Arrayer Alliance: Genomic Solutions Shareholders Clear Cartesian Acquisition
Genomic Solutions shareholders have approved the firm’s acquisition of fellow arraying instrument maker Cartesian Technologies, the company said this week.
Genomic Solutions has previously indicated that this merger would not affect immediate availability of the GeneTac microarraying systems or Cartesian’s arrayers, as the two lines of arrayers are complementary in throughput. Cartesian’s Irvine, Calif., headquarters will also remain open, and Cartesian president Tom Tisone will head up operations at that facility under the merger.
But Genomic Solutions is hoping this acquisition, which still remains to be finalized by the Securities and Exchange commission, will change one thing: its revenue outlook. The company has been plagued by sagging revenues in the past two quarters, but predicted that its financial situation would turn around in 2002.
“We believe the acquisition of Cartesian will create greater stockholder value, with enhanced potential for earnings and revenue growth,” Jeffrey Williams, Genomic Solutions’ CEO, said in a statement. “The goal of the corporation and all its employees is to achieve positive earnings in early 2002, and remain a profitable enterprise thereafter.”
The company said it would post between $30 million and $36 million in revenue next year and rack up earnings before interest, taxes, depreciation, and amortization between $800,000 and $2.8 million. The company also said it expects earnings to break even during the first three months of the new year and break into the black three months after that.
Genicon Sciences Adapts Detection Tech for Clontech Arrays
Genicon Sciences of San Diego, has racked up yet another deal allowing it to commercialize its resonance light scattering (RLS) technology, signing an agreement this week to adapt this light-based detection technology for BD Biosciences Clontech’s BD Atlas Microarrays.
Under the agreement, Genicon will be responsible for manufacturing, distributing, and marketing its RLS-based reagents, instrumentation, and analysis software for BD Biosciences Clontech. BD Biosciences Clontech will also have the right to promote this system with its arrays.
Genicon, which completed $32 million in financing last June, has since signed partnerships with the Novartis Genomics Institute, Imaging Research, and Qiagen for applications and marketing of RLS technology. The company also has a collaborative agreement to develop microarray analysis kits for Ventana Medical systems, which had signed an earlier collaborative agreement with BD Biosciences Clontech on co-marketing of array products.
PHRI’s Tolias: TIGR Isn’t Alone in the Pathogen Array Jungle
When the Institute for Genomic Research’s new $25 million pathogen functional genomics resource center made headlines in BioArray News two weeks ago , the article failed to mention that TIGR is not the only non-profit to offer pathogen microarrays to researchers.
The Public Health Research Institute’s Center for Applied Genomics, in Newark, NJ, has for over a year offering oligonucleotide-based microarrays for Mycobacterium tuberculosis to researchers at a modest price. These arrays include oligos representing the genes from both the strain sequenced by TIGR and the one sequenced by the Sanger Center. The organization also makes available human cytomegalovirus arrays with 210 ORFs. “Our total research network extends to over 60 labs around the country,” said Center for Applied Genomics director Peter Tolias.
RoboDeal: RoboDesign Sells Arrayer to Cal State University San Marcos
RoboDesign of Carlsbad, Calif., has sold one of its RoboArrayers to the biology department at California State University San Marcos. The university bought the arrayer, which the company said is valued at $100,000, for $40,000. This discount comes with the university’s agreement to be a beta test site for RoboDesign’s RoboArrayer, which combines the vision system with the print head. This feature allows users to quantify spot size and spot volume as arrays are being printed.
The RoboArrayer also includes an enclosed filtration system for reducing dust particles in the air and controlling humidity, automated microwell plate handling and self-monitoring wash steps, the company said.