Hybrigenics Raises Additional $14.8M
Hybrigenics said last week that it has raised 16.8 million, or roughly $14.8 million, in a Series C round of venture capital financing.
The financing, which brings Hybrigenics’ total take to 47 million since its founding in December 1997, will be used to bolster its therapeutic-target validation, emphasizing infectious-diseases drug discovery. The funds will also help support Hybrigenics’ internal and external growth, and to reinforce its international business presence, the company said.
Life Sciences Partners, based in the Netherlands and Germany, led the round.
J&J Expands Protein Structure Determination Contract With SBI
Structural Bioinformatics said last week that it has expanded the scale of its protein crystallization work for Johnson & Johnson Pharmaceutical Research and Development. San Diego-based SBI first began determining the structures of crystallized proteins and drug-protein complexes for J&J in January 2001. David Muth, SBI’s president, declined to disclose the number of new proteins SBI would study for J&J, but said the new collaboration would expand the number of targets and extend the timeframe of the contract research. SBI has access to MAR Research x-ray crystallography equipment at the University of California, San Diego, x-ray crystallography facility.
ABI Expects to Sell 50 TOF/TOFs in 2002; Sales Could be Worth $38M
Applied Biosystems expects to sell around 50 of its 4700 Proteomics Analyzer MALDI TOF/TOF machines during 2002, according to Banc of America analyst James Reddoch. The potential sales would represent around 4 percent of ABI’s total, or $38 million. In a report, Reddoch said ABI may post strong sales of MALDI-TOF/TOFs even “in a tough environment,” but that “we would be cautious buying ABI [stock] before the company reports its [revenues for the third quarter of fiscal 2002].”