Entelos Lowers Full-Year Revenue Guidance, Cites Pharma Spending Delays
Biosimulation firm Entelos said this week that it expects its fourth-quarter and full-year revenues to be below previous estimates.
"The current economic crisis has impacted almost every industry including our customer segment," Entelos said in a statement. "Many of our pharmaceutical customers have recently announced delays in some of their internal drug development programs."
As a result, the company said that revenues for its fourth quarter and full year which ends Dec. 31, 2008, will be "below expectations," but did not provide further details.
The company previously estimated that its full-year revenues would be around $24 million — a 10 percent increase over full-year 2007 revenues of $21.8 million [BioInform 09-26-08].
Entelos said this week that it has "made progress" toward cash flow
breakeven because cash receipts will be higher in the second half of 2008
than in the first half of the year, which has reduced its burn rate.
Entelos plans to report its full-year financial results in March 2009.
Children’s Hospital Boston Chooses Geospiza’s FinchLab for SOLiD
Geospiza announced that the Molecular Genetics Core Facility of the Children’s Hospital Boston and Harvard Medical School has chosen Geospiza’s FinchLab to manage its genetic sequencing operations. The facility performs DNA sequencing, microsatellite genotyping, and a variety of SNP genotyping and gene expression analysis technologies for investigators.
Financial details were not disclosed.
“We were looking for a way to provide access to our sequencing data through one location,” Hal Schneider, Laboratory Supervisor of the Molecular Genetics Core Facility said in a statement. “With the hosted solution, it makes life a lot easier. We don’t have to manage the servers — it saves time and hassle at a decent price point compared to the other options that are out there.”
Collaborative Drug Discovery Lands Gates Grant for TB Database
Collaborative Drug Discovery announced it has received a grant for $1,896,923 from the Bill & Melinda Gates Foundation to develop a database that will enable scientists to archive, mine, and collaborate around their drug discovery research data on tuberculosis.
The CDD TB database will integrate the efforts of academic, non-profit, and corporate laboratories. The two-year project will involve eight academic research groups in the beginning and later expand to include other participants, according to a statement, which did not indicate the names of the institutions involved.
NIMH Commits $2M in '09 Funding for Systems Biology Studies
The National Institute of Mental Health has issued a request for applications seeking to fund researchers conducting systems biology studies that expand on findings from genome-wide association studies and other genomic approaches.
NIMH said that it would provide $2 million in 2009 to fund between four and eight projects. The total project period may not exceed two years.
The studies would be conducted as part of the National Institutes of Health’s Genes, Environment and Health Initiative and would seek “to identify and characterize the molecular elements of the larger dynamic networks and their perturbations underlying complex human disease,” NIMH said.
Study subjects could include a range of subjects, including the “identification of likely molecular candidates and functional variants using systems biology approaches; bioinformatics studies to identify molecular elements and pathways relevant to complex diseases using results from GWAS studies; [and] studies that elucidate the role of epigenetic mechanisms in the molecular pathophysiology of complex human diseases.”
Applications are due Jan. 14, 2009, with studies expected to begin in July.
More information about the RFA can be found here.