PALO ALTO, Calif.--Incyte Pharmaceuticals has announced an agreement under which the company will develop a proprietary enterprise bioinformatics software and data management system to support the global research efforts of Novartis. The system will be based on Incyte's LifeTools bioinformatics software suite but will include additional custom features specifically designed for the Swiss healthcare, agribusiness, and nutrition giant.
According to Incyte, the system will provide Novartis the capability to seamlessly integrate internal corporate data with public domain information. Novartis will also receive ongoing updates of processed public domain data containing sequence and mapping information from human and microbial sources. In addition, Incyte personnel will work with Novartis to further customize the software to facilitate internal project management, including such functions as client-based annotation of ongoing projects.
In other news, on July 15 Incyte announced that it has registered with the US Securities and Exchange Commission for a proposed public offering of 1 million shares. Proceeds will be used for computer hardware, scientific instrumentation, expansion of company facilities, strategic equity investments, and working capital.