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Nanogen Stock Jumps 5.25 Percent Following US Patent Award

NEW YORK, Nov. 23 (GenomeWeb News) - Shares in Nanogen were up 5.24 percent at $4.02 in heavy mid-afternoon trading as investors cheered a new patent the company won in the United States for DNA microarrays.

 

The stock briefly climbed to $4.20 earlier in the day, and trading volume hovered around 1.4 million shares, almost two-and-a-half times their average volume.

 

On Tuesday, Nanogen said it won US Patent No. 6,821,729, called "Device for Molecular Biological Analysis and Diagnostics Including Waveguides."

 

The patent covers "methods and technologies for coupling optical waveguides with a DNA microarray used for performing biological operations and illuminating it at an angle that allows the size and complexity of the diagnostic instrument to be reduced," Nanogen said. It is the 78th patent the company won in the United States.

"Common fluorescent detection systems utilize excitation light that arrives at the face of a DNA chip at an angle, which requires a greater working distance," Nanogen said in a statement. "This patent allows for new positioning of a chip's components, including the substrate, top and edges, so that light is delivered via integrated waveguides, thus enabling a smaller and more compact device design."

 

The IP "also improves fluorescent detection by reducing the amount of excitation light that is reflected back into the sensor array," Nanogen said.