Discovery Partners Announces IPO
Discovery Partners International of San Diego announced on May 6 the initial public offering of 7,222,000 shares of its common stock at a price of $5 per share. The shares are being sold by Axys Pharmaceuticals, a stockholder of Discovery Partners, the company said.
SG Cowen & Co. is acting as lead manager of the offering, and Merriman Curhan Ford & Co and Roth Capital Partners are co-managers.
Discovery Partners offers drug-discovery services and products, including target characterization, screening library design and synthesis; high-throughput and high-content screening, lead generation, and gene expression analysis.
Cytokinetics Announces Closing of IPO
Cytokinetics of South San Francisco, Calif., announced on May 4 that it had closed its inital public offering of 7,935,000 shares of its common stock, which it initiated on April 29 (see Inside Bioassays, 5/4/2004). The total gross proceeds of the IPO were approximately $103.2 million, the company said.
In addition, on May 3 the company announced the publication of preclinical research demonstrating the feasibility of small-molecule inhibition of kinesin spindle protein for the potential treatment of cancer. The research is featured in the May 2004 issue of Cancer Research.
TGEN Acquires Human cDNA Clones from OriGene
OriGene Technologies has sold its TrueClone Kinase collection of more than 560 non-redundant full-length human cDNA clones to the Translational Genomics Research Institute, the company said on May 5.
TGEN’s cancer drug discovery laboratory will use the clones for high-throughput biology studies, particularly mammalian cell-based screening for drug discovery and development. The TrueClone collection includes over 75 percent of the NM sequences in the NCBI RefSeq database and covers 65 to 80 percent of the predicted human cDNA repertoire, OriGene said.
Euroscreen Takes License to SciTegic’s Pipeline Pilot
SciTegic said on May 4 that Euroscreen has signed a three-year license for SciTegic’s Pipeline Pilot workflow management software.
Euroscreen will use Pipeline Pilot to automate data management for its cheminformatics and high-throughput screening efforts. The company said it also plans to use the tool to create a corporate data warehouse. Financial terms for the licensing agreement were not provided.
Phylogeny Wins $1.1M Grant for Tissue Array Development
Phylogeny, a privately held functional genomics firm based in Columbus, Ohio, last week said it has won a $1.1 million grant from the state of Ohio to further develop its tissue array technology.
Phylogeny said its tissue arrays contain up to one thousand samples of body tissue, permitting researchers to process up to hundreds of samples at once.
Lali Reddy, Phylogeny’s senior director of corporate development, said in a statement that Phylogeny “will seek partnerships with scientific suppliers to provide retail distribution of the product line.”
Pharmacopeia Completes Spin-Off of PDD; to be Renamed Accelrys Soon
Pharmacopeia has completed the spin-off of Pharmacopeia Drug Discovery, the company said last Monday.
As of May 3, Pharmacopeia and PDD are trading as separate companies on Nasdaq under the ticker symbols “ACCL” and “PCOP”, respectively. Pharmacopeia plans to change its name to Accelrys upon approval by its stockholders later this month.
Pharmacopeia will be headquartered in San Diego, while PDD will stay in Princeton.