Correlogic, USU and Jackson Foundation
to Develop Prostate Cancer Dx
Correlogic Systems, the Uniformed Services University of the Health Sciences, and the Henry M. Jackson Foundation for the Advancement of Military Medicine intend to co-develop a blood test for the detection of prostate cancer based on the company's protein pattern-recognition approach, the firm said last week.
Two concurrent studies will involve up to 2,000 men with prostate cancer. The first study will use Correlogic's ProteomeDx pattern recognition technology to try to develop a blood test for prostate cancer detection that is more effective than the current prostate specific antigen test.
With the current PSA test, approximately 75 percent of men who test positive end up undergoing unnecessary prostate biopsies, according to Correlogic.
In the second study, researchers will try to use the technology to try to develop a test to distinguish between indolent and aggressive prostate cancer.
Bio-Rad Posts 14-Percent Rise in Revenues, Increased Earnings in Q1
Bio-Rad Laboratories last week reported a 14-percent increase in revenues and a jump in earnings for the first quarter of 2005.
The company recorded $299.2 million in revenues for the quarter, up from $262.7 million during the same period a year ago. Bio-Rad's life science segment accounted for $144.1 million of total revenues, an increase of 18.5 percent year-over-year.
Several product lines, including amplification reagents, process chromatography media, and the Bio-Plex protein assay system, contributed to the growth of this segment, while real time PCR instruments faced competition, and prices for BSE tests "eroded," according to the company.
Research and development costs went up slightly, to $26.8 million, from $24.3 million during last year's first quarter.
Net income totaled $33.5 million, or $1.26 per share, up from $22 million, or $.83 per share, during the first quarter of 2004. This includes a $4 million gain related to the sale of the company's confocal microscopy business.
As of March 31, Bio-Rad had $318 million in cash and cash equivalents and $65.9 million in short-term investments.
GeneGo Licenses Pathway Database and Analysis
Products to Procter & Gamble Pharmaceuticals
GeneGo has licensed its MetaCore and MetaBase pathway database and analysis products to Procter & Gamble Pharmaceuticals, a subsidiary of Procter & Gamble, the St. Joseph, Mich.-based company said this week.
MetaBase is a manually curated database with information on mammalian signaling, metabolism, transcription factors, receptors, drug targets, and bioactive chemistry. MetaCore allows users to examine multiple types of data in parallel and to edit pathways and add annotations.
Jubilant Licenses Pathway Database to Johns Hopkins
Jubilant Biosys has licensed its PathArt manually curated pathways and interactions database to the microarray core facility at Johns Hopkins Medical Institutions, the firm said this week.
Fisher's Organic Revenues Grow 3 Percent in Q1,
Though Total Receipts Surge 35 Percent
Fisher Scientific this week reported 3-percent year-over-year organic revenue growth in the first quarter, amid overall revenue growth of 35 percent.
Fisher's total revenues for the first quarter increased to $1.35 billion from $1 billion in the same period in 2004. Excluding foreign currency exchange benefits, the company's Q1 sales were $1.34 billion.
Revenues from scientific products and services excluding foreign currency benefits increased 31 percent to $970.7 million. However, the company said that approximately 2 percent of this revenue growth was organic.
For healthcare products and services, Fisher reported sales of $335.8 million after foreign currency benefits, up 48 percent from the prior year's quarter. However, approximately 5 percent of this increase was organic, according to Fisher.
Fisher's revenues for its laboratory-workstations segment increased 21 percent to $46.3 million. Fisher did not break out organic growth for this segment.
The company's Q1 net income increased to $77 million, or $.64 per basic share, from $34.6 million, or $.54 per basic share in the first quarter last year.