Illumina Closes $400M Note Sale After Adding $50M Over-Allotment
Illumina last week said it has closed the sale of $400 million in convertible senior notes.
The company initially said Feb. 12 it would sell $325 million in notes to pay for corporate expenses, but on Feb. 13 it raised the offering to $350 million (see BAN 2/13/2007
The sale at closing included the exercise of an over-allotment for an additional $50 million of notes, bringing the total to $400 million.
The sale will pay interest at .625 percent and will be due in 2014, at which time holders will receive cash value for the principal and common stock for any excess value.
Illumina said it plans to use $202 million from the sale to buy shares of its common stock in a private deal.
GenTel BioSciences Raises $2M in Latest Financing Round
GenTel BioSciences said this week that it recently completed a round of financing worth $2 million.
The investment was led by NEW Capital Fund and Wisconsin Investment Partners, both Wisconsin-based investors with an interest in the life sciences industry.
GenTel CEO Alex Vodenlich said in a statement that the funding was “critical” and that the company had raised $500,000 more than initially anticipated.
The company said it would spend the VC cash infusion on further development of its protein array technology.
Illumina Certifies Asuragen and DeCode as BeadChip Service Providers
Illumina last week said it has certified Asuragen as a gene expression profiling services provider for its Human-6 Expression BeadChip.
Illumina has also certified DeCode Genetics to use its Infinium BeadChip genotyping platform.
Asuragen, which specializes in RNA, microRNA, and gene-expression and array products and services, will use the Human-6 BeadChip for profiling services to support clinical research studies, pharmacogenomics, and biomarker discovery.
The company is a spin-off of Ambion's diagnostics and services division that was created in 2006 when ABI purchased Ambion’s research products division for $273 million in cash.
For DeCode, to become a certified service provider for Illumina’s Infinium tool, the company passed a two-phase process that included data generation and data certification, and underwent on-site audits of processes and facilities.
DeCode will use the BeadChip platform in conjunction with its Disease Miner software and other disease-related IP to develop DNA-based diagnostics and to offer expanded contract genotyping services to its customers.
DeCode’s genotyping facility is located in its headquarters in Reykjavik, Iceland.
DeCode and Illumina last May signed an agreement to develop and market molecular diagnostics for type II diabetes, breast cancer, and heart attack (see BAN 5/17/2006
UCLA School of Medicine Installs HistoRx’s TMA Analysis Tech
HistoRx last week said that it has installed its PM-2000 tissue microarray image analysis platform at the University of California, Los Angeles, David Geffen School of Medicine.
David Seligson, assistant professor of pathology and laboratory medicine at UCLA and associate director of UCLA’s Biomarker Innovation Laboratory, will direct a research program that will use the PM-2000 system to develop clinically relevant in situ diagnostic assays, HistoRx said.
According to the company, the PM-2000 image analysis platform enables measurement of protein biomarkers in tissue and tissue microarrays using HistoRx’s Automated Quantitative Analysis biomarker profiling technology.
Seligson said in a statement that the BIL will use the PM-2000 in “multiple studies, including histone modification in prostate and other cancers, evaluation of endometrial progression, and the study of 700 lung cancer specimens collected as part of our Early Detection Response Network and Specialized Program of Research Excellence grant initiatives.”
Financial details were not discussed.
Ben Gurion University Team to Use Rosetta Biosoftware Tech for Expression Studies
The Ben Gurion University of the Negev is using Rosetta Biosoftware’s LC/MS protein expression-analysis system, the groups said last week.
Under the agreement, the Microbiology and Immunology department at Ben Gurion will use the company’s Resolver and Elucidator platforms as part of a pilot study for a “national test bed” that will allow researchers throughout Israel to evaluate software and databases for biotechnology research.
Financial terms of the agreement were not released.
SAS Integrates JMP Genomics Microarray Software with Ingenuity Pathway Analysis
SAS and Ingenuity Systems said this week that they have partnered to integrate SAS’ JMP Genomics software with Ingenuity’s Pathways Analysis tool.
The integration will enable users to upload the results of JMP Genomics analysis directly into IPA for interpretation within the context of biological pathways, the companies said.
JMP is a business unit of SAS and JMP Genomics includes statistical analysis capabilities from the SAS and JMP platforms with additional analytical features for large genetics, microarray, and spectral data sets.