Tripos Receives Nasdaq Delisting Notification, New Offer for Discovery Research Business
Tripos said this week that it faces delisting for non-compliance with the Nasdaq Global Market’s minimum $10 million stockholders' equity requirement.
Separately, the company announced that it entered into a material agreement to sell its Discovery Research business to Commonwealth Biotechnologies, a molecular diagnostics company based in Richmond, Va.
Under the terms of the agreement, CBI would pay as much as $2.3 million for the business unit, broken down into $500,000 in cash and a total of $1.8 million in base receivables.
The agreement follows Tripos’ announcement last week that it planned to sell the Discovery Research business for around $1.1 million to a trio of company executives [BioInform 04-20-07].
Tripos said that it has until May 3 to provide Nasdaq with a plan to achieve and sustain compliance with all listing requirements.
Tripos sold its Discovery Informatics business in March [BioInform 03-23-07] and said this week that it plans to complete the sale of its Discovery Research business “in the very near future.”
The company said that upon the sale of the Discovery Research business, it will request that Nasdaq immediately delist its stock and close its stock transfer books.
The term sheet with CBI expires in the first week of May.
CambridgeUniversity to Use eXludus Grid Optimizer
eXludus Technologies said this week that the University of Cambridge has ordered its Grid Optimizer following a demonstration in which the software increased cluster throughput by more than 300 percent on NCBI-Blast.
The software will be installed on an 18-teraflop Dell cluster at the Cambridge High Performance Computing Facility.
The installation includes the company’s SchedOpt process-scheduling module, which is available as a standalone package or as part of the Grid Optimizer suite.
Financial terms of the agreement were not provided.
Columbus Children's Research Institute to Use Rescentris Electronic Lab Notebook
Rescentris said this week that Columbus Children's Research Institute will deploy its Collaborative Electronic Research Framework electronic lab notebook.
Around 700 employees at the CCRI will use the software under the agreement.
Financial terms of the agreement were not disclosed.
New Zealand’s KAREN Network to Use Biomatters’ Geneious Software
Biomatters said this week that New Zealand’s high-speed research network, called KAREN (Kiwi Advanced Research and Education Network), will use its Geneious bioinformatics software.
Biomatters said that it will work with the Bioinformatics Institute at the University of Auckland to optimize the software for the KAREN network, which provides high-speed connectivity for thousands of researchers and educators across New Zealand.