Novartis Taps Genomics Collaborative For Two-Year Target Validation Project
The Novartis Institutes for BioMedical Research will use Genomics Collaborative’s Global Repository of human DNA, sera, and tissue samples in a research program to prioritize drug targets before they enter clinical trials.
The non-exclusive research collaboration will initially run for two years, with the option to extend for two more years. It will cover up to four therapeutic areas, beginning with type 2 diabetes.
GCI said that up to 100 genetic targets would be evaluated in 1,000 to 2,000 clinical samples for each therapeutic area. The NIBRI is the Cambridge, Mass.-based arm of Novartis.
First Genetic Trust Closing on $5.5 Million Series C Financing
First Genetic Trust has closed a $5.5 million Series C financing round.
The venture capital firms Venrock Associates of New York and ARCH Venture Partners of Chicago led the funding for the Deerfield, Ill.-based information-technology firm that offers security products and services for genetic data. Additional investors include Cooper Hill Partners of New York, a healthcare investor, and the development and services firm, Quintiles Transnational of Durham, NC.
The funds raised will support further commercialization of the Company's enTRUST genetic study and banking technology into the pharmaceutical, academic, and government markets, First Genetic Trust said this week in a statement.
GlaxoSmithKline Licenses Ingenuity’s Pathway Database
GlaxoSmithKline has licensed part of the Pathways Knowledge Base database from Ingenuity Systems.
GSK would use the database — which maps relationships between proteins, genes, complexes, cells, tissues, drugs, and diseases — as part of its internal computational genomics effort.
Thermo Electron, Qiagen Pen Sample Prep Alliance
Thermo Electron and Qiagen will co-market Thermo Electron’s KingFisher sample-preparation instrumentation with Qiagen’s magnetic bead-based separation and purification reagents.
Qiagen has been granted a license to the KingFisher magnetic particle instrumentation technology, which uses magnetic rods to move particles through the processing steps in sample preparation, and will have the rights to market Kingfisher products.
Thermo will co-promote Qiagen’s nucleic acid purification consumables with the KingFisher instruments. The licensing agreement is exclusive.
Harvard Bioscience Acquires BioRobotics for $3.2 Million
Harvard Bioscience’s Genomic Solutions subsidiary has acquired microarray instrumentation firm BioRobotics, a subsidiary of Apogent Technologies, for approximately $3.2 million in cash and certain limited liabilities.
BioRobotics’ UK-based support and sales staff will join Genomic Solutions’ UK sales and marketing team, while product development and manufacturing will be consolidated into the company’s Huntingdon research facility.
BioRobotics sells robotics for DNA microarray manufacturing and colony picking. The company expects to draw around $3 million in 2004 revenues.
Perlegen, Lilly Expand PGx Research Deal
Eli Lilly will increase its funding in its pharmacogenomics R&D collaboration with Perlegen Sciences.
Terms of the deal, struck in December 2002, call for Perlegen to use its technology to genotype SNPs in clinical samples, and discover genetic markers for Lilly.
ParAllele Secures $22.5M In Private-Equity Financing
ParAllele BioScience has raised $22.5 million in a Series B round of venture-capital financing.
ParAllele will use the cash to support the ongoing development and commercialization of its SNP products. A new investor, Mohr, Davidow Ventures, led the round, which included existing investors Abingworth Management, Index Ventures, and Versant Ventures.
Gene Logic Lowers ‘03 Revenue Outlook
Gene Logic has lowered its revenue guidance for 2003 to between $65 million and $69 million due to soft buying by drug makers. Nothing further was disclosed.