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NIH, Gene Logic, ParAllele BioScience, VizX, Third Wave, Luminex, Sequenom


NIH Gives Diversa $3.2 Million to Optimize Biodefense Antibodies

The National Institute of Allergy and Infectious Diseases awarded Diversa around $3.2 million to improve three antibodies that the US Army is already using to detect certain bioterrorism agents.

The antibodies in question were developed to detect ricin toxin, plague, and alpha-virus. San Diego-based Diversa will use the money to employ its Gene Site Saturation Mutagenesis technologies to optimize the binding characteristics of the antibodies.

The goal is to increase the diagnostic sensitivity and selectivity of the three antibodies, as well as to develop ways to improve other biodefense diagnostics.

The NIAID has authorized $890,000 for the first six months of the project.

Gene Logic Reports Increased Q2 Revenue Atop Fall in Losses

Gene Logic reported that second-quarter revenues increased to $19.4 million from $14.1 million in the same quarter one year ago. The increase in revenues reflects contribution fees from Gene Logic’s April 1 acquisition of Therlmmune Research.

R&D expenses for the period ended June 30 fell to $463,000 from $637,000 in year over year. Net losses narrowed to $4 million from $4.4 million in the second quarter 2002.

Gene Logic said it had around $71 million in cash and cash equivalents as of June 30.

ParAllele to Collaborate with Baylor in Heart Disease Study

ParAllele BioScience and Baylor College of Medicine will study SNPs for certain congenital heart abnormalities.

ParAllele will use its SNP-genotyping technology to scan candidate genes for mutations for left ventricular-outflow tract obstruction, a heart abnormality that can either lead to death in newborns or cause heart valve infections or degenerations later on in life.

ParAllele will design custom reagents for the experiments, and will use more than 1,000 samples from patients and families collected by Baylor.

VizX Tries to Be Cash-Flow Positive by End of Year

Informatics company VizX labs intends to be cash-flow positive at the end of the year, according to an e-mail message from CEO and co-founder Thomas Ranken.

“We will develop the capacity to expand our company from new funding sources: earnings, investment, and debt,” said Ranken.

VizX makes the gene expression-analysis software, a new version of which was launched earlier this month. Besides becoming cash-flow positive, Ranken said the company’s “top priority” is to “build sales” for the software, which he said is responsible for the lion’s share of the company’s revenue.

Third Wave Posts Fallen Q2 Revenues, Reduced Losses

Third Wave Technologies reported that second-quarter revenues fell to $8.8 million from $9.6 million for the same period last year.

R&D expenses in the period ended June 30 decreased to $2.7 million from $3.6 million year over year.

Net losses n the second quarter receded to $2.2 million from $6.1 million in the same period one year ago.

Third Wave had approximately $56.8 million in cash, cash equivalents, and short-term investments as of June 30.

Luminex Q2 Revenues Rise, Losses Narrow

Luminex reported that second-quarter revenue increased to $5.6 million from $3.2 million in the same period one year ago.

For the period ended June 30, R&D expenses plummeted to $900,000 from $2.1 million year over year.

Net losses for the quarter came to $1.9 million, compared to $6.2 million for the same period last year.

As of June 30, Luminex had $38.7 million in cash and cash equivalents.

Sequenom Posts Flat Q2 Revenues, Narrowed Loss

Sequenom reported that second-quarter revenues remained flat at $7.7 million compared to the same time one year ago. Of that, receipts from services plummeted to $239,000 in the current second quarter from $3.4 million one year ago, as product sales jumped by $3.1 million year over year.

R&D expenses for the period ended June 30 fell to $6.5 million from $8.1 million year over year. Net loss narrowed to $9.3 million, or $.24 per share, from $15 million, or $.40 per share, in the second quarter of 2002.

Sequenom had $82.9 million in cash, equivalents, short-term investments, and restricted cash as of June 30.

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The Scan

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