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Roche Ponies Up $70 Million for Affy Access

NEW YORK, Jan. 30-Roche will pay Affymetrix $70 million to use its GeneChip technology to develop new diagnostics, Affymetrix said today.

 

Roche will have nonexclusive rights to Affy's microarrays and systems for up to 18 years. The pharmaceutical company will use the platform in genotyping, gene expression, and resequencing studies to create new tests for disease.

 

Working together, the two companies will develop and validate tests and conduct clinical trials. The partners will also jointly create instrument systems that can be used by diagnostic laboratories to scan microarrays.

 

Under the terms of the deal, Affymetrix may also receive royalties on diagnostic kit sales and milestone payments for scientific and commercial successes.

 

For further information, see the company statement.

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