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In Brief This Week: Illumina, Devyser, Dovetail Genomics, T2 Biosystems, Velsera

NEW YORK – Illumina said this week that it will recognize a $1.47 billion goodwill impairment charge in the second quarter of 2024 — "the full remaining carrying value of goodwill related to Grail as of March 31, 2024." Illumina divested Grail earlier this month. Illumina's filing with the US Securities and Exchange Commission said it will also recognize a $420 million impairment charge for a Grail in-process R&D intangible asset in the quarter.

In a separate filing, Illumina provided pro forma first quarter 2024 financial results for Illumina without Grail. Adjusted product revenues went up $7 million to $883 million while service and other revenues went down $27 million to $173 million. Net income for the quarter was $56 million, or $.35 per share, instead of a reported loss of $126 million, or $.79 loss per share. Cash and cash equivalents as of March 31 were $877 million, compared to $1.11 billion reported in May.

Swedish diagnostics firm Devyser said this week that it has secured a tender from an unidentified university hospital in Stockholm for Devyser Thalassemia, a next-generation sequencing-based screening and confirmation test for thalassemia, a hereditary blood disorder. The tender is initially for two years and may be extended for another two years. The annual order value of the tender is about SEK 2.1 million ($2.1 million), Devyser said.

Dovetail Genomics said this week that it has partnered with the Australian Genome Research Facility to provide products and services in that country and New Zealand. AGRF will offer Dovetail's portfolio of proximity ligation-based 3D genomics assays, including Omni-C and Micro-C, as well as its LinkPrep kits. Financial and other terms of the deal were not disclosed.

T2 Biosystems announced this week that it has executed a territory-exclusive distribution agreement in Hong Kong and Macau. Under the terms of the agreement, T2 Biosystems will sell the T2Dx instrument, along with the T2Bacteria, T2Candida, and T2Resistance panels through the newly appointed distributor. Financial terms of the agreement were not disclosed.

Turkish genomics healthcare company Genoks and precision medicine-focused informatics firm Velsera said they are collaborating to advance cancer diagnostics and treatment in Turkey and nearby regions. The partnership combines Genoks' genomic expertise with Velsera's Clinical Genomics Workspace (CGW), a platform designed for comprehensive analysis of data obtained from solid tissue and liquid tumor as well as hematological cancer samples. Genoks will integrate CGW into its cancer diagnostic services, enhancing its ability to detect and characterize various types of cancer accurately, the companies said.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on GenomeWeb.