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Sequenom Sells $7M in MassARRAYs to Samsung in Diagnostics-Discovery Deal

NEW YORK, June 18 - Sequenom today said it sold "multiple" units of its MassARRAY gene-analysis tools to Korean conglomerate Samsung to help it discover diagnostics.
 
Terms of the agreement call for Sequenom to receive 50 percent of the rights to any drugs developed from genes discovered by the Samsung Advanced Institute of Technology. The genomic tool shop will also receiv a 5-percent royalty on any diagnostic tests Samsung develops using the technology.

Though no other financial details were released, Reuters reported this morning that Samsung bought $7 million worth of the MassARRAY tools. This figure could not be independently verified.

 

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