Ciphergen, Bio-Rad, GenTel, NIH
Ciphergen to Sell Proteomics Tools Arm to Bio-Rad as Q2 Revenues Fall 24 Percent
Bio-Rad this week said it plans to acquire Ciphergen’s proteomic business for $20 million and buy a $ 3-million stake in the company [See related story].
Ciphergen announced the sale as it reported that second-quarter revenues dropped 24 percent to $5.3 million from $6.9 million during the year-ago period.
Net losses for the quarter ended June 30 declined 18 percent to $7.7 million from $9.4 million during the year-ago period.
As of June 30, the company had $20.6 million in cash and cash equivalents. The company spent $2.9 million in research in development during the quarter.
GenTel Allowed to Commercialize Protein Glycosylation Technology
The Van Andel Research Institute has allowed GenTel BioSciences to commercialize a microarray technology for measuring variations in the glycosylation of proteins, the companies announced this week.
The technology uses antibody microarrays to profile changes in the glycosylation of proteins and could lead to the discovery of disease-specific alterations in protein glycosylation and new biomarker diagnostics, said Brian Haab of VARI and the inventor of the technology.
Financial terms of the deal were not disclosed.
$21.5M in NIH Grants for Proteomics and Genomics
The National Institutes of Health has set aside $21.5 million for 14 grants to help a number of academic labs buy high-end instruments, including mass spectrometers, sequencers, and supercomputers, the agency said this week.
The one-time awards fund a maximum of $2 million to research institutions purchasing sophisticated instruments as part of biomedical research. The awards will be made through The National Center for Research Resources.