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In Brief This Week: Thermo Fisher Scientific; Danaher; PerkinElmer; and More

NEW YORK (GenomeWeb) – In a filing with the US Securities and Exchange Commission this week, Thermo Fisher Scientific reported it recorded $90 million in restructuring and other costs related to its acquisition of Affymetrix. That expense included $11 million for the sale of inventories revalued at the date of acquisition and to conform the accounting policies of Affymetrix with Thermo Fisher's own accounting policies, and $29 million for third-party transaction costs. Thermo Fisher also recorded $67 million for restructuring costs, including severance and abandoned facilities costs associated with the closure and consolidation of facilities in the US. Payments for restructuring actions, principally severance costs and lease and other expenses of real estate consolidation, used $22 million in cash in the first quarter, the firm added.

Danaher announced this week that its board has approved a regular quarterly dividend of $.16 per share, payable on July 29 to shareholders of record on June 3.

PerkinElmer this week sold its Labworks LIMS product line to newly formed Labworks, a firm made up of software executives and many previous PerkinElmer employees who worked on the Labworks line. The new firm is being run by CEO Lane Franks and CTO Paul Fjeldsted.

Epigenomics announced this week that LabCorp will be the first laboratory network in the US to offer its Epi proColon blood-based colorectal cancer screening test. Epi proColon was recently approved by the FDA and is being distributed to US labs by Epigenomics' commercialization partner, Polymedco.

Great Basin Scientific announced this week that it has received notice from Nasdaq that the date of its hearing before the Nasdaq Listing Qualifications Panel has been rescheduled from mid-May to mid-June. At the hearing, the company will present Nasdaq with its plan for regaining compliance under the exchange's listing rules. Great Basin said it now expects a decision from the Nasdaq panel in mid-July.

Dako, a subsidiary of Agilent Technologies, said this week that its PD-L1 IHC 28-8 pharmDx companion diagnostic test is now available for use with Bristol-Myers Squibb's melanoma drug Yervoy in Europe, as well as BMS' non-squamous non-small cell lung cancer (ns-NSCLC) drug Opdivo. The test was previously approved for both ns-NSCLC and melanoma applications in the US and for ns-NSCLC only in Europe.

Intellia Therapeutics this week announced the closing of its initial public offering of 6.9 million shares of common stock at $18 per share, netting proceeds of $112.9 million after deducting underwriting discounts and commissions, and estimated offering expenses. The company added the underwriters fully exercised their option to purchase up to 900,000 additional shares of common stock. Its shares began trading on the Nasdaq on May 6 and were trading at $23.25 on Friday afternoon.

Stemina Biomarker Discovery said this week it has rebranded its diagnostics business to more accurately represent its focus on neurological disorders. The company said its metabolomics technology is being used in a large clinical study of the metabolism of children with autism spectrum disorder. The company also said former Foundation Medicine COO Kevin Krenitsky has joined its board of directors.

The College of American Pathologists this week accredited NIPD Genetics' laboratory in Nicosia, Cyprus. The firm offers the Veracity non-invasive prenatal test, which detects trisomies 21, 18, 13; aneuploidies X,Y; and fetal sex determination.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on the GenomeWeb site.