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OncoMethylome, Ciphergen, Clinical Data, Proteome Sciences, Agilent, Cogenics

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OncoMethylome Raises €3.3M, Bringing IPO Proceeds up to €25.3M

Following its initial public offering and Euronext listing on June 27, OncoMethylome Sciences said last week that it has raised an additional €3.3 million ($4.2 million) through the exercise of over-allotment option by Fortis and ING, the joint lead managers in the offering.

OncoMethylome granted the option on up to 440,000 new shares, at the IPO price of €7.5 ($9.5) per share.

As a result, the company's proceeds from the IPO total €25.3 million ($32.2 million).

See previous coverage here.


Ciphergen Receives Non-Compliance Notice from Nasdaq

The Nasdaq exchange has notified Ciphergen Biosystems that it is subject to delisting because its market capitalization has fallen below $50 million for 10 consecutive business days.

Ciphergen said last week that it received the notice from Nasdaq's Listings Qualification Department on June 26.

Nasdaq had previously told the company that it had a period of 30 calendar days, or until June 23, to regain compliance.

Ciphergen said that it will request a hearing before a Nasdaq Listing Qualifications Panel to appeal the determination.


Clinical Data's Fiscal '06 Revenue Grows 22 Percent As Acquisition Costs Turns Profit Into Loss

Clinical Data last week reported a $50.9 million loss for fiscal year 2006 compared to a profit of $3.4 million in fiscal 2005 due to an increase in operational expenses from the acquisitions of Genaissance Pharmaceuticals and Icoria.

For the 12 months ended March 31, Clinical Data reported revenues of $68.8 million, a 22-percent increase from $56.4 million in fiscal 2005. The increase included Genaissance and Icoria's operating results.

The company's traditional product business reported a 2 percent increase in revenue, to $50.6 million from $49.8 million a year ago.

Clinical Data's loss for the year was primarily a result of expensing $39.7 million for in-process research and development projects at Genaissance and Icoria at the time of the acquisition, the company said. The company also reported an increase in operation costs after the acquisitions.

The company had $20.8 million in cash as of March 31


Proteome Sciences Licenses Stroke Biomarkers to Undisclosed Dx Firm

Proteome Sciences licensed its stroke biomarkers to "one of the top 10 global leaders in clinical diagnostics," the company said last week.

Under the research license, a number of Proteome Sciences biomarkers will be tested for inclusion in a new panel for a high-throughput diagnostic platform. After incorporating the stroke markers, the licensee will develop an HTS stroke test, Proteome Sciences said in a statement.

The licensee declined to be identified by Proteome Sciences, citing competitive reasons. Proteome Sciences did say this is a new area for the licensee.

No financial details were disclosed.


Agilent Recertifies Cogenics for Microarray Services

Agilent Technologies recertified Cogenics, a division of Clinical Data, as a microarray service provider for its gene-expression microarrays, the companies said last week.

Agilent also extended the certification to include its array-based comparative genomic hybridization experiments.

Cogenics passed a set of assessments that included proficiency in analyzing Agilent 60-mer oligo microarrays using the complete Agilent system; sample quality control using the Agilent 2100 Bioanalyzer; sample labeling using Agilent reagents and protocols; hybridization using SureHyb chambers; microarray analysis using the Agilent scanner and feature extraction software; and final data-analysis using the GeneSpring bioinformatics platform.

Cogenics has earned certification for the past three years.

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