Eppendorf Licenses BioDiscovery’s ImaGene for its Developing System
Eppendorf of Germany last week announced a licensing agreement with BioDiscovery of Marina Del Rey, Calif., and will integrate the company’s ImaGene software into a new line of microarray products that it plans to introduce within “the next few months,” the company said.
Financial details were not disclosed.
BioDiscovery will modify its ImaGene software to integrate Eppendorf statistical tools and other proprietary developments, the companies said in a joint announcement.
CytRx Accounts Merger Costs
How do you go from a loss of $931,000 to one of $6.2 million?
If you are CytRx of Los Angeles, that’s the tab for a merger, and other one-time non-cash charges for fiscal year 2002.
CytRx in July merged with Global Genomics Capital, and holds a 40 percent investment in Blizzard Genomics, the Minnesota startup creating novel imaging products for microarrays.
The company wrote off $330,000 as its share of losses from Blizzard Genomics, it said in a statment. Other writeoffs included $1,822,000 in severance and other contractual payments made to the former officers following the merger. Additionally, it wrote down its manufacturing equipment associated with it Flocor process by $921,000, and accrue the ongoing carrying costs of its former headquarters in Atlanta totaling $478,000. Also, since the date of its merger with Global Genomics, the company has recorded $335,000 in amortization expense associated with intangible assets arising from the merger.
The company had total revenues for 2002 of $1,342,000 versus $4,399,000 in 2001. Revenues for 2002 include a $1 million milestone payment from Merck, related to Merck’s initiation of a Phase I clinical study incorporating CytRx’s TranzFect technology in an experimental DNA-based vaccine for HIV.
Year-end cash and short-term investments totaled $1,789,000 and the company had working capital of $1,638,000, it said in a statement.
Fodor Invited for BioArrays Europe Confab
Affymetrix CEO Steve Fodor has been invited to provide the plenary lecture at BioArrays Europe, a three-day conference at Cambridge, UK, on Sept 29-Oct. 1, 2003, show organizers told BioArray News last week.
BioForce Nanosciences Gets $500K Grant for Protein Array
BioForce Nanosciences last week announced a $500,000 Phase I NIH/SBIR grant from the National Institute of Diabetes, Digestive, and Kidney Diseases to fund research into an antibody array for profiling data for cytokine biomarkers that target kidney and digestive systems using extremely small sample volumes.
The assay will be based on the company’s nanoarray platform and will seek to miniaturize techniques and apply them to mouse models.
Sloning Gets $4.6M Financing
Sloning Biotechnology of Puchheim, Germany, last week announced the closing of its $4.6 million Series B round of funding, led by HBM Partners of Zurich.
Also participating in the round were investors DEWB of Germany and 3i of the UK.
The company, in collaborating with Swiss robot-systems developer Hamilton Bonaduz, is developing an automated process for manufacturing long oligonucleotides. Sloning was founded in 2000 and has 15 employees.