Stock Placement Nets Perlegen $30 Million
Perlegen Sciences has closed a private placement of Series C preferred stock worth $30 million, the company said Jan. 27.
The round was led by Maverick Capital and included new and repeat investors, among them Eli Lilly, Vulcan Ventures, Unilever Technology Ventures, and SB Life Science Ventures.
Genaissance Licenses Testing System from BD
Genaissance Pharmaceuticals on Jan. 24 has obtained a license to BD’s infectious disease-testing platform, BDProbeTec ET.
The technology incorporates BD’s Strand Displacement Amplification technique, to which BD will provide equipment, reagents, and training. Genaissance’s non-exclusive license allows it to expand its battery of pharmacogenomics services and tests.
First Genetic Trust, Radiant Research Pool IT
First Genetic Trust and Kirkland, Wash., clinical trial firm Radiant Research will offer access to a broad patient population for pharmacogenomic studies, the companies said last week.
The partnership combines First Genetic Trust’s IT operating system with Radiant Research’s network of research study sites and its pool of approximately one million patients, according to the companies.
Illumina Posts Strong Q4 Revenue Growth
Illumina reported that fourth-quarter revenue increased to $3.9 million from $761,000 in the same quarter last year. Revenue from services was the main driver of that growth, raking in $2.0 million compared with $99,000 in the year-ago period.
Following closely behind were receipts from product sales, which drew $1.2 million in the fourth quarter 2002 compared with $365 million reported during the same quarter last year. Revenue from research, meantime, inched up to $568,000 from $297,000 over the same one-year period.
Illumina said it spent $6.3 million on R&D in the three-month period ended Dec. 29; the firm shelled out $6.2 million over the same time last year. Net loss in the quarter fell to $7.6 million, or $.24 per share, from $8.2 million, or $.27 per share, year over year.
Illumina said it had approximately $66.3 million in cash and investments as of Dec. 29.
NaPro Buys Pangene’s Genomics Business
NaPro BioTherapeutics has purchased Pangene’s genomics business, the companies said Jan. 28. The deal included the GeneGin cloning system, an automated method to isolate and clone cDNAs without using conventional gene library-screening techniques.
The remainder of Pangene’s genomics business, which was based in Fremont, Calif., includes equipment, software, licenses, patents, and IP tied to its homologous recombination technology and gene-isolation services, NaPro said. The division will be physically relocated to NaPro’s genomics center in Newark, Del.
No, It’s Not a New Bicycle
Hyseq and Variagenics have approved the merger of their companies, the newlyweds said in a joint statement Jan. 28.
The partners also disclosed what the company will be called. Beginning Feb. 3, the merged company will be called Nuvelo and will trade on the Nasdaq exchange under the symbol NUVO.
According to Hyseq spokeswoman Nicole Estrin, ‘Nuvelo’ is meant to imply a “sense of new speed, a novel direction … and to associate the company with the positive."
Company officials will update investors on the status of Variagenics’ SNP and haplotype technology, as well as broader corporate issues, in a conference call scheduled for Feb. 24.