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Hybrigenics' H1 Revenues from Proteomics Services Rise; Overall Revenues Decline

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French biotech company Hybrigenics announced this week that revenues from its proteomics services division rose 4 percent year-over-year in the first half of 2010.

For the six months ended June 30, the division's revenues climbed to €1.71 million ($2.24 million) from €1.64 million a year ago. During the same period, Hybrigenics' overall revenues declined 15 percent to €2.08 million from €2.44 in H1 2009.

In a statement, the company attributed the overall decline in revenue to "the slowdown of pharma research activities" for the drug maker Servier, and its research efforts being "totally focused on its own drug-discovery program to generate proprietary results."

This July the company created a fully-owned subsidiary, Hybrigenics Services SAS, to house its proteomics services business. At that time, CEO Remi Delansorne told ProteoMonitor that formation of the subsidiary would potentially provide the proteomics business with greater access to funding, with which it planned to expand its marketing and sales operations with a particular focus on the US market (PM 07/09/2010).

Hybrigenics Services SAS offers protein interaction analysis on a fee-for-service basis, using yeast two-hybrid systems to discover novel protein interactions in cells, validate protein interactions, and study the inhibition of interactions between proteins.

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