Lynx Crosses Into Black for Q3
Lynx Therapeutics last week reported net income of $1.8 million for the third quarter of 2003.
“Our operating performance in the third quarter of 2003 reflects higher genomics revenues and continued aggressive management of our expenses,” Kevin Corcoran, Lynx’s president, said in a statement.
The Hayward, Calif., company’s revenues came to $8.3 million for the third quarter, up from $4.8 million for the third quarter of last year. R&D expenses decreased to $3.0 million, compared to $4.3 million for the same period last year.
As of Sept. 30, Lynx had $6.4 million in cash and cash equivalents, including restricted cash, compared to $11.7 million for the same period last year.
The company also announced a collaborative research agreement with the University of Delaware to characterize gene expression patterns in rice. Lynx will receive payments for discovery services conducted on its MPSS (massively parallel signature sequencing) platform. The research is funded through a four-year grant from the US National Science Foundation.
Additionally, Lynx announced a multi-year, multi-million dollar services agreement with DuPont that extends a five-year agreement the companies initiated in 1998. Under the extended arrangement, DuPont and its subsidiary, Pioneer Hi-Bred International, will continue using Lynx’s MPSS technology for the discovery and development of new agricultural traits and products.
Financial details were not disclosed.
Gene Logic Lays off 50 in Rebalancing Act
In a move to “rebalance” its workforce to better match its evolving strategic plan, Gene Logic last week said it has taken steps to eliminate certain positions and add new positions.
The company said it eliminated approximately 50 positions, “principally in the areas of database development and production.” New hires are planned in the area of contract study services, marketing, and sales, the company said. When Gene Logic acquired TherImmune for its contract services business earlier this year, its staff increased from 272 to around 500 employees.
Additionally, Gene Logic said that it had been contracted to build a custom equine gene expression database for Genetraks, an Australian biotech company developing diagnostic technologies for horses and other performance animals.
Financial details of the multiyear service agreement were not disclosed.
Gene Logic will build a database of genomic content from equine samples and related clinical information using custom microarrays provided by Genetraks.
Genetraks plans to use the database in developing diagnostics and performance monitoring technologies for thoroughbred racehorses. The company said that basing its technology on gene expression data, rather than bloodline and heritage trait data, will allow earlier disease diagnosis and monitoring of horses.
Paradigm Genetics Reports Uptick in Q3 Revenues
Paradigm Genetics last week reported $6 million in revenues for the third quarter, up slightly from the $5.2 million in revenues for the same period last year.
The company’s net losses decreased to $2.2 million, from $3.9 million in the year-ago quarter.
R&D expenses came to $6.2 million, compared to $6.0 million for the same period last year.
As of Sept. 30, the company had $9.9 million in cash, cash equivalents, and short-term investments.
Affymetrix Licenses Biotique BLIS Data Integration System
Biotique Systems last week announced that Affymetrix has licensed the Biotique Local Integration System (BLIS) for use in its internal research activities.
The deal builds upon a collaboration the companies began last September to build a freely available viewer for transcriptome data (available at http://transcriptome.affymetrix.com/local_index.html). Financial terms of the BLIS licensing agreement were not disclosed.
Leica Microsystems and Axaron Extend Co-Marketing Agreement
Leica Microsystems and Axaron Bioscience last week announced the signing of an agreement to co-market their laser microdissection products and services for gene expression analysis. This agreement covers Leica’s AS LMD Laser Microdissection System and Axaminer, Axaron’s service for cell type-specific transcription profiling. The co-marketing is an extension of the already existing cooperation between the two companies. Financial details were not provided.
Axaron’s’s role in this cooperation is to enable the labeling of specific cells and the subsequent gene expression analysis of isolated cells.