NEW YORK (GenomeWeb) – Cellular Dynamics reported after the close of the market on Monday that revenues in its first quarter were up 21 percent year over year, driven by collaborations and partnerships.

The company said that for the three months ended March 31, it had $2.9 million in revenues, compared to $2.4 million in the first quarter of 2013. Product sales were down 17 percent to $1.5 million from $1.8 million, but collaborations, partnerships, and other revenues more than doubled to $1.5 million from $636,000.

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