Caliper Q2 Revenues Jump 20 Percent on Strong Contract Revenue
Caliper Life Sciences this week said that second-quarter revenues increased 20 percent and net loss declined 51 percent on strong contract revenues.
Receipts for the second quarter increased to $24.3 million from $20.3 million in the same quarter last year. In segment results, revenue from product sales slipped slightly to $12.3 million from $12.4 million in the prior year. Service revenue increased 50 percent to $5.4 million, and revenue from license fees and contracts rose 54 percent to $6.6 million, Caliper said.
Caliper said strong demand for its microfluidics product line kept product revenue essentially flat despite a $1.3 million decline in OEM product sales to Affymetrix. The CaliperDriven program drove license and contract revenue growth, while the increase in service revenues was due to its October NovaScreen acquisition, the company said.
The company spent about $4.9 million on R&D in the second quarter, up 7 percent from $4.6 million in the comparable period last year.Net loss for the second quarter was $2.1 million, compared to a loss of $4.2 million in Q2 2005.
Caliper expects revenues between $110 million and $118 million for the full year of 2006.
The company also said that it closed its previously announced acquisition of Xenogen this week. The combined company will continue to be called Caliper Life Sciences.
Xenogen recorded revenues of $11.2 million for the second quarter, said Kevin Hrusovsky, Caliper’s president and CEO, and saw a 35-percent growth in IVIS molecular imaging system sales.
As of June 30, Caliper had approximately $9.5 million in cash and cash equivalents, and around $14.3 million in marketable securities.
GE Expands Rights to Use, Sublicense Fisher BioImage's Green Fluorescent Protein
GE Healthcare has obtained a license to use Fisher BioImage’s green fluorescent protein technology beyond life science research, GE said today.
The expanded licensing agreement expands GE's rights to develop and sell products using this technology and gives it the right to sublicense the IP.
Financial terms of the deal were not announced.
GFP is a fluorescent protein from the jellyfish Aequorea victoria and is applied in many areas of drug discovery and veterinary and plant science research. In 2004, GE Healthcare acquired the rights to offer sub-licenses to the A. victoria GFP intellectual property held by BioImage and others to enable its customers to use the technology in high-content screening and analysis applications.
Geron and U of Edinburgh Collaborate on hESCs for Drug Testing
Geron said this week that it has entered into a collaboration with the University of Edinburgh to conduct pre-clinical safety and efficacy studies with three cell types derived from human embryonic stem cells.
Specifically, the cell types are hepatocytes for the treatment of liver failure, and osteoblasts and chondrocytes for the treatment of musculoskeletal disorders, including osteoarthritis, bone fractures, and osteoporosis.
Evotec to Provide Huntington’s Drug-Discovery Services to CHDI
Evotec said this week that Huntington’s disease patient advocacy non-profit CHDI has chosen Evotec as a strategic partner for helping its drug-discovery programs.
Evotec and CHDI have signed four agreements since March 2006 covering medicinal chemistry, assay development and medium-throughput screening, ultra-high-throughput screening, and library synthesis and management services.
In the course of the collaboration, Evotec will apply its assay development expertise, including high-content screening, to test high-priority Huntington’s disease targets provided by CHDI, Evotec said.
Financial terms of the agreements were not disclosed.
Celsis International Acquires In Vitro Technologies for $30M
Celsis International, a Chicago-based life sciences product and services company, this week said that it has acquired Baltimore, Md.-based In Vitro Technologies for $30 million in cash and an earn-out consideration capped at $5 million.
IVT supplies products and services such as fresh and cryopreserved cells and enzymes for ADME-Tox studies.
Celsis provides rapid detection systems, analytical services, and in vitro technologies to the pharmaceutical, biopharmaceutical, personal care, and beverage industries.