Three firms License Variagenics’ Clot Gene ...
Variagenics said Jan. 16 it has licensed its patents on a gene related to thromboembolic events to GeneOhm Sciences, Sciona, and Tm Bioscience.
The worldwide, non-exclusive licenses to the gene, methylenetetrahydrofolate reductase, give the three firms the right to commercialize tests that identify polymorphisms in it. However, Variagenics retains the right to develop tests relating to other diseases that involve it.
GeneOhm, a California startup, is developing a chip-based technology to identify polymorphisms by interruptions in the flow of electrical current; Sciona is a British diagnostics and pharmacogenomics firm; Tm Bioscience, based in Toronto, is developing a battery of SNP-diagnostic tests.
... as firm Says no thanks to CombiMatrix
Variagenics said thanks but no thanks Jan. 20 to CombiMatrix’s unsolicited offer to merge. In an unusual step, Variagenics not only made public CombiMatrix’s advance but also illustrated in detail why it rebuffed its suitor and reaffirmed its love, so to speak, for Hyseq.
Among the Acacia unit’s turn-offs: Insufficient trading history, a low trading volume, a “complex” capital structure, and the risk that investors would just not get it. There were some sparks, however, during the four days the firms were courting: a possible love-connection between Variagenics’ SNP database and CombiMatrix’s array-processor system, and the latter’s rich friends and corporate connections.
Lynx grumbles over Second Nasdaq Letter
Lynx Therapeutics has received another notice from the Nasdaq exchange warning it is in additional danger of being delisted, the company said Jan. 15.
Nasdaq determined that Lynx was not in compliance with its requirements for continued listing. This notice comes on the heels of a Dec. 19 letter sent by the Nasdaq saying Lynx was in danger of being kicked off the exchange for failing to keep its share price above $1 for 30 consecutive trading days.
Lynx said it would appoint an independent director to its audit committee and would initiate a reverse stock split as a way to help kick-start the price. A one-for seven reverse split was approved by Lynx’s board and stockholders, and occurred Jan. 16.