Telechem Commences Business under Arrayit Name; Names Management
Telechem International, which was purchased by publicly traded Integrated Media Holdings for approximately $23 million earlier this month, announced that the merged firm has commenced operations under the name Arrayit Company (see BAN 2/12/2008).
The former shareholders of privately held Telechem now own 73.5 percent of the combined company, which now has its headquarters at Telechem's base in Sunnyvale, Calif.
In addition, the firm announced the management team following the deal. Rene Schena, who was CEO of Telechem, is now chairperson of the board of directors and CEO; microarray pioneer Mark Schena, who was a consultant to Telechem, is now president, chief technology officer, and a director; and Todd Martinsky, co-founder and vice president of Telechem, has been named chief operating officer and secretary treasurer.
Citadel Ups Stake in Affymetrix
One of the world's largest hedge funds, Citadel Investment Group, has raised its stake in Affymetrix to 5.5 percent of the microarray firm's outstanding stock.
Citadel reported in a US Securities and Exchange Commission last week that it now owns 3,861,403 shares of Affy. That stake is up significantly from the roughly 827,000 shares Citadel held in the firm as of the end of 2007.
Invitrogen to Use Genisphere's Signal Amplification Technology in miRNA Kits
Invitrogen announced last week that it has licensed exclusive rights to use Genisphere's 3DNA dendrimer signal amplification technology along with its own Alexa Fluor fluorescent dyes in its NCode Rapid miRNA Labeling System.
Genisphere's technology is based on highly branched DNA structures that serve as scaffolds for multitudes of fluorescent dyes. According to a joint statement from the firms, researchers using the technology can start with a total RNA sample as little as 250 nanograms, which eliminates the need to purify the microRNA sample before labeling. They added that the NCode Rapid miRNA Labeling System can reliably detect two to 10 copies of microRNA per cell.
"Because microRNAs play a significant role in cancer and in the differentiation of stem cells, discoveries resulting from experiments in those areas could potentially expedite the diagnostics applications of microRNA biomarkers in disease," said Peter Welch, director of research and development for gene expression profiling at Invitrogen.
Terms of the alliance were not disclosed.
Applera Files to Separate ABI, Celera
Applera last week announced that it has filed with the US Securities and Exchange Commission for the separation of Celera from the Applera Group.
The move, which was expected following recent comments from the management of both Applera and Celera that the board of directors of Applera favored separating the firms, is subject to a number of conditions. Applera must gain final board approval, SEC clearance of the registration statement, and receipt of an opinion of tax counsel as to the tax-free nature of the separation, before it closes the transaction. Applera shareholders are not required to approve the deal.
Under the terms of the separation, shareholders of the Applera Group-Celera Group tracking stock would receive one share of new Celera Corporation shares for each share of the tracking stock they currently own. Upon completion of the deal, Celera would become an independent, publicly traded company.
The firms expect Celera to trade on the Nasdaq under its current ticker symbol, CRA, while its current tracking stock would be delisted from the New York Stock Exchange. Celera President Kathy Ordoñez is expected to serve as CEO of the firm, which will be based in Alameda, Calif.
Applera Group-Applied Biosystems Group common stock will continue to trade on the New York Stock Exchange.
Last August, Applera announced that it had hired investment bank Morgan Stanley to conduct a review and advise the company on its options for restructuring the groups, including a possible split (see BAN 8/14/2007).