CST, Bio-Rad to Develop Phosphoprotein Assays for Signal Transduction Research
Cell Signaling Technology has partnered with Bio-Rad Laboratories to develop phosphoprotein assays to be commercialized with Bio-Rad's bead-based assays, CST said this week.
Under the partnership, CST will develop antibodies for kinase activation and protein-phosphorylation assays to be used in Bio-Rad's multiplex bead-based assays for the Bio-Plex suspension array system.
CST will develop a broader array of antibodies for the Bio-Plex platform. Bio-Rad's phosphoprotein assays are optimized to simultaneously assess kinase and signaling-protein activation states and provide critical tools for disease research and drug development.
Financial details were not disclosed.
Ciphergen Stock Soars 15 Percent on Positive Biomarker Study Data; Company Faces Nasdaq Delisting
Shares in Ciphergen Biosystems were up 15 percent, or $.17, at $1.29 in mid-day trading on June 6, the day after the company presented favorable results from a study evaluating the use of its biomarkers to detect ovarian cancer.
Under the study, 607 patient samples provided by five international medical centers were evaluated for seven biomarkers. Approximately 61 percent, or 373 women, were found to have invasive epithelial ovarian cancer. Of those with cancer, 27 percent were in the early stages. The remaining women had benign gynecologic disease.
All seven biomarkers individually demonstrated statistically significant power to differentiate ovarian cancer patients from women with benign disease, Ciphergen said.
Ciphergen conducted the study as part of a comprehensive ovarian cancer program in conjunction with The Johns Hopkins School of Medicine, the University of Texas M.D. Anderson Cancer Center, University College London, and the University of Kentucky.
In other news, the Nasdaq exchange told Ciphergen Biosystems last week that it risks being delisted because its market cap has remained below $50 million for 10 consecutive business days.
Ciphergen said it has until June 23 to regain compliance. Its market cap currently stands at $41.4 million, according to Nasdaq.
Fitch Downgrades Beckman Coulter on Cash, Credit Concerns
Fitch Ratings revised Beckman Coulter's rating outlook to "negative" from "stable" this week, citing concerns about the company's cash-flow generation and credit profile.
The company's change in leasing policy, with customer contractual terms shifting to operating-type leases, will require a significant cash outlay for capitalizing customer equipment, the agency said. Stress on the company's credit profile would be "exacerbated" if the company continues its "shareholder-friendly" actions, Fitch said.
PerkinElmer Acquires C&A Service Solutions to Boost Lab Services Business
PerkinElmer said this week that it has acquired Clinical & Analytical Service Solutions, a UK-based scientific equipment maintenance firm.
PerkinElmer did not disclose financial terms of the acquisition.
PerkinElmer said the acquisition will bolster its OneSource lab equipment services business. The company estimates the market for laboratory equipment services to be worth around $2.5 billion.
C&A generated revenues of around $7.5 million in 2005, PerkinElmer said.
GeneGo's MetaCore Now Fully Functional With Agilent's GeneSpring Software
GeneGo's MetaCore data mining platform has been made fully compatible with Agilent Technologies' GeneSpring platform, GeneGo said this week.
The combined system will enable researchers to synthesize information about pathways and molecular interactions.
GeneSpring is a bioinformatics tool that analyzes microarray data and manages data. MetaCore is designed for the analysis of different types of experimental data in the context of pathways, networks, cellular processes, diseases, and toxic categories.
Millipore to Sell $550M in New Notes to Help Fund Serologicals Acquisition
Millipore will offer $550 million of convertible senior notes with 3.75 percent annual interest, the company said this week.
The Billerica, Mass.-based company will use the funds to finance its acquisition of Serologicals.
The notes, due 2026, will be offered to institutional buyers. The sale of the notes is expected to closed on June 13.
The notes will be convertible into cash and shares of Millipore's common stock. The initial conversion rate is 11.0485 shares per $1,000 principal amount of notes, representing an initial conversion price of approximately $90.51 per share.
As ProteoMonitor reported on April 27, Millipore said it would acquire Serologicals for $1.4 billion in cash. Millipore said it will use a portion of these funds to pay for a portion of the acquisition.
nitial purchasers will receive a 13-day option to buy up to an additional $82.5 million of the convertible notes. Holders would receive a cash payment up to the principal amount of the note and Millipore common stock equivalent to the note's conversion value in excess of the principal amount for each note.
Any remaining funds will be added to the company's working capital and will be used for "general corporate purposes," the company said.