Clinical Data to Pocket $12M in Private Stock Placement
Clinical Data has signed agreements with investors for a $12-million private placement of its common stock, the company said last week.
The investors will purchase 614,629 shares of newly issued common stock and receive warrants to purchase 307,315 shares of additional common stock, for a total price of $12.025 million.
The "certain institutional and other accredited investors" remain unnamed at this time.
Clinical Data said it will use the gross proceeds from the placement to pay down outstanding indebtedness and to support its growth plans as it integrates Genaissance's operations and Icoria.
The company expects to close the Icoria acquisition in mid-December.
IntegraGen Raises $9.6M in Second-Round Financing to Support Launch of Two Genetic Tests
Genetic-test developer IntegraGen said last week that it has completed a second round of financing worth $9.6 million to support the commercialization of its predictive tests.
IntegraGen said it has so far raised a total of $24 million to support test development and commercialization.
The firm said it plans to market a genetic test for autism in 2006, and a type-II diabetes test in 2008, with other tests slated for launch further in the future.
Schering-Plough Licenses Oncomethylome Sciences' Assay to Study Temodar Therapy
Schering-Plough will license pharmacogenomic assay technology from Oncomethylome Sciences to study DNA methylation status in brain cancer patients, the companies said last week.
Schering-Plough will pay OMS an upfront license payment, milestone payments, and sample processing fees. Actual amounts were not disclosed.
Under the agreement, Schering-Plough will receive a worldwide non-exclusive license to use the assays and technology to measure the methylation status of the MGMT gene in brain cancer patients being treated with its drug Temodar. The collaboration will focus on glioblastoma multiforme brain cancer, but can potentially expand to other cancers and products.
OMS is a privately held company based in Belgium.
HHMI Awards $10M to Promote Interdisciplinary Biomedical Education; Genomics to Play Role
The Howard Hughes Medical Institute has set aside $10 million as part of an effort to increase interdisciplinary graduate education, the institute said this week.
HHMI has partnered with the National Institutes of Health's National Institute of Biomedical Imaging and Bioengineering and awarded 10 $1 million grants to programs that support both physical and biomedical sciences, including nanotechnology, computational biology, and genomics.
According to HHMI, the recipients of the awards are Brandeis University, Carnegie Mellon University, Johns Hopkins University, New Jersey Institute of Technology, the University of California, Irvine, the University of California, San Diego, the University of California, San Francisco, the University of Chicago, the University of New Mexico, and the University of Pennsylvania.
Myriad and Abbott Extend Pharmacogenetics Pact
Myriad Genetics and Abbott have extended a pharmacogenetics collaboration begun early last year, Myriad said this week.
The collaboration will focus on identifying human genetic variation around drug targets in various stages of development, Myriad said.
Abbott will fund the research, and Myriad will use its sequencing technology and mutation screening software to analyze samples from various populations to identify genetic polymorphisms.
Financial details were not disclosed.
Ciphergen, UTMB Pen Liver Disease Biomarker Alliance
Ciphergen and the University of Texas Medical Branch at Galveston plan to discover, validate, and characterize new liver disease biomarkers, the company said this week.
Under the deal, Ciphergen will provide UTMB with its suite of proteomic solutions, including Deep Proteome, Pattern Track Process, and ProteinChip systems. UTMB will apply the technologies to its own clinical samples, Ciphergen said.
Ciphergen will have the first option to negotiate an exclusive license to discoveries made during the agreement and will be part of UTMB's ongoing research in liver disease, the company said.
Additional terms of the arrangement were not disclosed.
Correlagen and Cerner Bring Genetic Tests to Clinics
Clients of health-IT company Cerner will be able to order genetic tests from Correlagen and receive results through Cerner's Millennium product, Correlagen Diagnostics said last week.
The agreement will allow "a physician to select and accurately transmit a genetic test order to the reference lab," said JP Fingado, Cerner vice president and general manager, in a statement.Financial details were not disclosed.