Precision Therapeutics Raises $20M to Develop Chemotherapy Response Test
Precision Therapeutics said this week that it closed a $20 million series B funding round.
The funding will be used to commercialize the Precision's ChemoFx assay, a cell-based test that "quantifies an individual patient's likely tumor response to single or multiple chemotherapeutic agents," the company said in a statement.
Lead investor in the round was Quaker BioVentures of Philadelphia. Existing investors included Adams Capital Management, Birchmere Ventures, Techno Venture Management and Draper Triangle Ventures.
Monogram, Dana-Farber to Use eTag Assays in Oncology Biomarker Study
Monogram Biosciences and Dana-Farber Cancer Institute will jointly conduct experiments using Monogram's eTag assays to study signaling pathway activation and clinical responsiveness to targeted drugs in a range of cancers, Monogram said last week.
Under the deal, Monogram will have rights to diagnostic and predictive medicine applications of all resulting products.
No additional details were provided.
TB Alliance and BG Medicine to Collaborate on Tuberculosis Biomarker Discovery
The Global Alliance for TB Drug Development and BG Medicine announced this week a collaborative deal to identify biomarkers for tuberculosis drug development.
The collaboration will last six months, the partners said.
Under the deal, BG Medicine will use its proteomic and metabolomic analytical platforms to analyze samples provided by Colorado State University. TB Alliance will fund the project, with help from a grant from the Netherlands Ministry of Foreign Affairs.
Financial details were not provided.
TB Alliance is a non-profit, public-private partnership supported by the Bill and Melinda Gates Foundation and the Rockefeller Foundation.
Solexa Shares to Trade on Nasdaq National Market
Nasdaq moved Solexa's exchange listing from the Capital Market to the National Market, Solexa said this week.
Solexa's shares began trading on the Nasdaq National Market on Wed., Feb. 22. Solexa's stock symbol will remain SLXA.
The Nasdaq Capital Market was formerly known as the Nasdaq SmallCap Market.
Ciphergen Q4 Revenues Slide 35 Percent as Profit Turns to Loss
Ciphergen last week reported that its fourth-quarter sales fell 35 percent to $6.6 million from $10.1 million during the year-ago period, as net income fell into the red.
Research and development costs fell to $3 million from $3.7 million a year ago.
Ciphergen reported a net loss of $9.2 million, or $0.26 per share, versus a net income of $10.3 million, or $0.35, in the fourth quarter of 2004. The company said the results included a $2.5-million non-cash charge for the impairment of goodwill.
As of Dec. 31, the company had $25.7 million in cash and cash equivalents.