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Med BioGene Loss Shrinks as It Prepares Lung Test Launch

NEW YORK (GenomeWeb News) – Med BioGene said yesterday that its fiscal-year 2008 net loss declined slightly to C$2.3 million (US$1.9 million), or C$.07 per share, from C$2.4 million, or C$.09 per share.

The Vancouver, BC-based firm had no revenues, as it is gearing up to launch its molecular assay for lung cancer this year. Med BioGene's LungExpress Dx gene expression prognostic assay is being developed for patients with early stage non-small cell lung cancer.

Last month, the firm extended its biomarker collaboration with the University Health Network in Toronto. The deal expands the firm's previous exclusive license and collaboration with UHN, which will provide additional novel gene expression-based markers for LungExpress Dx.

For FY2008, Med BioGene spent C$786,674 on R&D, down 33 percent from C$1.2 million the year before. Its general and administrative spending for the year was C$1.4 million, up 12 percent from C$1.2 million in 2007.

As of Dec. 31, 2008, Med BioGene held cash, cash equivalents, and government receivables of around C$1.1 million.

The Scan

Guidelines for Ancient DNA Work

More than two dozen researchers have developed new ethical guidelines for conducting ancient DNA research, which they present in Nature.

And Cleared

A UK regulator has cleared former UK Prime Minister David Cameron in concerns he should have registered as a consultant-lobbyist for his work with Illumina, according to the Financial Times.

Suit Over Allegations

The Boston Globe reports that David Sabatini, who was placed on leave from MIT after allegations of sexual harassment, is suing his accuser, the Whitehead Institute, and the institute's director.

Nature Papers on Esophageal Cancer, Origin of Modern Horses, Exome Sequencing of UK Biobank Participants

In Nature this week: genetic and environmental influences of esophageal cancer, domestic horse origin traced to Western Eurasian steppes, and more.