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Microarray-Manufacturer Febit in Insolvency Proceedings in Germany

NEW YORK, Oct. 8 (GenomeWeb News) - Germany's Febit has gone out of business, just months after launching its first product, the Geniom One DNA analysis instrument, GenomeWeb has learned.

The Mannheim-based company filed for insolvency earlier in the year and proceedings were opened July 1. Creditors met with Febit's insolvency lawyer, Christopher Seagon, on Aug. 16. Seagon, who maintains offices in Heidelberg, was unavailable for comment on the proceedings.

Febit, which was founded in 1998, raised €30 million ($37 million) in a third round of private financing in late 2002. Among its investors are the EMBL Technology Fund and Infineon Ventures, neither of which responded to e-mails seeking comment.

Geniom One was launched late last year, and according to the firm, could synthesize custom oligo arrays, perform experiments, and scan arrays all within the confines of the instrument. It had promised to launch the product by the end of 2002, but efforts to work out the bugs delayed the product's introduction by a year.

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