NEW YORK – German colorectal cancer screening firm Mainz Biomed said this week that its revenues for the first half of the year increased 4 percent to $520,773 from $499,049 in the first half of 2023. Net loss was $11.1 million, or $.49 per share, compared to a net loss off $15.0 million, or $1.00 per share, in the prior-year period. The company ended H1 with $977,764 in cash. Mainz Biomed said it restructured its operations this month and decreased its operating costs, primarily through a reduction of personnel and external consulting. Going forward, it will focus on three key initiatives: continuing to grow its ColoAlert business in Europe, developing its next-generation colorectal cancer screening test, and running a 2,000-patient study to prepare for a new submission to the US Food and Drug Administration for breakthrough device designation.
Evotec said this week that it is receiving a $50 million payment from Bristol Myers Squibb under an existing proteomics partnership, expanding it beyond the field of oncology. Evotec started collaborating with Celgene, now part of BMS, on so-called molecular glue protein degraders in 2018 and expanded the partnership in 2022. Under the program, Evotec is using proteomics and transcriptomics to profile and select promising drug candidates.
Hologic will lay off 86 employees and close a Connecticut manufacturing facility as the firm consolidates production facilities for its breast health products at a facility in Delaware, according to a report to the Connecticut Department of Labor. The Marlborough, Massachusetts-based firm said in a recent filing with the state that it is laying off 71 employees effective Dec. 20 as well as 15 other employees who will perform post-closure work until they are let go in January and February of 2025. Hologic said by email that many other employees of the Danbury plant have elected to continue working for Hologic by transferring to a facility in Newark, Delaware. The Connecticut plant has been used to manufacture mammography systems and other products for Hologic's breast health business.
Proteomics testing firm Proteomics International Laboratories (PIL) this week reported financial results for Q3 2024. For the three months ending Sept. 30, the company reported revenue of $A253,000 (US$167,890), up 26 percent from $A201,000 in Q3 2023. It reported a net loss for the quarter of $A1.5 million compared to a net loss of $A1.7 million in the year-ago period. R&D spending in Q3 2024 was $A1.0 million, up 46 percent from $A685,000 in Q2 2023. PIL ended the quarter with $A5.1 million in cash and cash equivalents. The company noted that it is aiming for a commercial launch of its PromarkerD test for diabetic kidney disease in the US and Australia in the first half of 2025.
Pacific Biosciences said this week that its Onso short-read sequencing platform has joined the 10x Genomics compatible partner program. The platform is compatible with 10x’s single-cell 3’ gene expression profiling assay v3.1.
German proteomics firm Evosep said this week that it is relocating to Odense, Denmark. It also launched Evosep Biolabs, a center of excellence for high-throughput proteomics with a focus on the analysis of plasma proteomics samples. Further, Evosep and Sciex have extended their existing comarketing agreement, targeting pharmaceutical and biotech companies.
Dante Omics said this week that its laboratory in Italy has obtained ISO 9001:2015 certification for providing genomic next-generation sequencing, analysis, and interpretation services. The firm said it plans to further expand its research capabilities and enhance its AI-driven genomics products.
Fujita Health University of Japan and BostonGene said this week that the Fujita Health University Haneda Clinic will start offering genomic profiling tests for cancer patients using the BostonGene Tumor Portrait test. The test integrates DNA and RNA sequencing and detects actionable mutations, properties of the tumor microenvironment, and treatment response biomarkers.
Pillar Biosciences this week said that the American Medical Association has granted proprietary laboratory analyses code 0523U to the firm's OncoReveal CDx pan-cancer in vitro diagnostic NGS kit. The kit, which was approved by the US Food and Drug Administration in April, leverages Pillar's Stem-Loop Inhibition-Mediated amplification (SLIMamp) technology to detect single nucleotide variants, insertions, and deletions in 22 genes using DNA isolated from formalin-fixed, paraffin-embedded tumor tissue specimens. OncoReveal CDx was cleared for use on the Illumina MiSeq Dx instrument and approved as a companion diagnostic test to identify patients who may benefit from EGFR TKI therapy in NSCLC, and from Eli Lilly's Erbitux (cetuximab) or Amgen's Vectibix (panitumumab) for KRAS in colorectal cancer, Pillar noted.
Revvity said this week that its board of directors has authorized a quarterly dividend of $.07 per common share, payable on Feb. 7, 2025, to shareholders of record as of Jan. 17, 2025.
The Qatar Precision Health Institute (QPHI) of the Qatar Foundation said this week that it has released data for 25,000 human genomes to the research community, half of which have electronic medical data associated with them. The dataset is aimed at helping with research into cancer genetics, cardiovascular diseases, reproductive health, and mental health. Members of the second round of the Qatar Precision Health Research Consortium (QPHRC) plan to focus on these and other areas.
Helio Genomics this week announced a partnership with Halub Medical to commercialize the HelioLiver Dx test for the early detection of hepatocellular carcinoma in Saudi Arabia. HelioLiver Dx is a multianalyte blood test that assesses cfDNA, methylation patterns, serum protein biomarkers, and demographic information. The test is expected to be available in Saudi Arabia and the Gulf Cooperation Council in Q1 2025, with revenue in the following 12 months expected to be more than $12 million, Helio Genomics said. The Irvine, California-based firm leverages artificial intelligence to develop diagnostics for the early detection of cancer. Taif, Saudi Arabia-based Halub Medical specializes in distributing laboratory diagnostic test kits in the GCC and the Middle East. Financial and other terms of the deal were not disclosed.
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.