NEW YORK (GenomeWeb News) – French biotech firm IntegraGen today announced that its first-half revenues increased 67 percent year over year driven by demand for its genomic services.
For the half-year, revenues rose to €2.5 million ($3.4 million) from €1.5 million a year ago, resulting in a 32 percent improvement in its net loss to €890,000, compared to €1.3 million a year ago.
Accounting for "other sources, depreciation variation and provisions," total revenues came in at €2.7 million, up 69 percent from €1.6 million a year ago, IntegraGen said.
Continued demand for its high-throughput sequencing services drove growth during the first six months of the year, and a number of research teams focused on cancer have worked with the company "to realize exome sequencing programs … thus positioning IntegraGen as a major contributor to the development of cancer research in France," it said in a statement.
It added that it expects continued "steady growth" in its genomic service business for the year, though it noted that growth in the second half of 2011 will be slower than in the first half due to contracts that were signed in late 2010.
IntegraGen also said that it will continue validating diagnostic tests for the launch of a new version of the Arisk familial autism panel in the first half of 2012. "This version will pave the way for the launch of a non-familial autism suspicion test," the company said.