NEW YORK (GenomeWeb News) – Abbott's board of directors this week approved the separation of the firm's research-based pharmaceuticals business into a new company called AbbVie and declared a special dividend distribution for all of the outstanding shares of AbbVie common stock.
For every one share of Abbott common shares held, Abbott shareholders will receive one share of AbbVie common stock. It said that no fractional shares of AbbVie will be issued, and shareholders will receive cash in lieu of fractional shares. The special dividend distribution is expected to be paid on Jan. 1, 2013, to Abbott shareholders of record as of the close of business on Dec. 12, 2012.
Abbott announced its plans to split the company into two separate, publicly-traded companies — one focused on diversified medical products and the other on research-based pharmaceuticals — in October 2011.
Pressure BioSciences said this week that Ironridge BioPharma has converted its remaining 200 shares of the firm's Series E Convertible Preferred Stock into shares of the firm's common stock. Following the conversion, all 500 shares of Series E Preferred Stock purchased by Ironridge in the April 2012 $500,000 registered direct transaction with the company have been converted.
Pressure Bio said that the total number of shares of common stock issued to Ironridge for their Series E Preferred Stock investment was 1,113,033.
Randox said this week that it has received the CE Mark for its STI Multiplex Array. The test can detect 10 of the most prevalent STIs from a single urine or swab sample within 5 hours. The STIs it can detect include Chlamydia trachomatis, Neisseria gonorrhoea, Trichomonas vaginalis, Treponema pallidum (syphilis), Herpes simplex 1 & 2, Mycoplasma hominis, Mycoplasma genitalium, Ureaplasma urealyticum and Haemophilus ducreyi.
LGC Genomics has opened a new lab facility in Hoddesdon, North London. The firm, which provides genomic products and services, is 25,000 square feet and houses offices, lab, and warehouse space. The new facility opening follows the firm's expansion in the US, where it opened a lab facility near Boston.
For more on LGC's expansion see this article GenomeWeb Daily News sister publication In Sequence.
AB Sciex has opened a new Centre for Analytical Science in Delhi. The new, $3 million facility builds on AB Sciex's expanding operations in the country. Last year it acquired Labindia's mass spectrometry business.
Granada, Spain-based Era7 Bioinformatics said this week that it has opened its first US office in Cambridge, Mass. It expects to employ three staffers at the Cambridge facility by the end of 2013. Era7 has developed the BG7 bacterial genome annotation system.
The firm told GenomeWeb Daily News sister publication BioInform earlier this year that it planned to open a US office in the Boston area to offer its cloud-based annotation system to US-based researchers.
A new firm has been formed in Gosselies, Belgium with a focus on personalized DNA sequencing of cancer patients. Founder and CEO Jean-Pol Detiffe, a former CEO and founder of DNAVision, announced the launch of OncoDNA this week. The firm has received funding of more than €2 million ($2.6 million) from public and private investors, including the Institute of Pathology and Genetics and Sambrinvest.
OncoDNA said that it is operational and performing analyses using Life Technologies' Ion Torrent platform.
In Brief This Week is a Friday column containing news items that our readers may have missed during the week.