Amid Losses, LSBC Reports Slightly Increased Revenues
Large Scale Biology reported revenues this week of $900,000 for the second quarter, compared to $490,000 in the same period last year. The Vacaville, Calif. company had a net loss of $6.2 million for the quarter, compared to $9.6 million for the second quarter of 2002. The company’s R&D expenses narrowed to $2.8 million, from $5.9 million in the second quarter a year ago. These expense reductions follow a restructuring program announced in June (see PM 6-20-03), which involves cutting costs $5 million within the year. At the end of the second quarter, LSBC had $15 million in cash and marketable securities.
Luminex Revenues Rise, Losses Narrow in Q2
Luminex reported increased net revenues and narrowed net losses this week. The Austin, Texas-based company, which makes the xMap bead assay system for measuring gene and protein expression, reported revenues of $5.6 million for the quarter, compared to $3.2 million for the second quarter of 2002. The company’s R&D expenses were down sharply to $900,000, from $2.1 million for the year-ago period. Net losses for the quarter came to $1.9 million, compared to $6.2 million for the same period last year. As of June 30, Luminex had $38.7 million in cash and cash equivalents.
Syn X Pharma and Roche Diagnostics Cross-License Heart Failure Marker
Syn X Pharma and Roche Diagnostics have non-exclusively cross-licensed their rights to a congestive heart failure marker, the companies said this week.
Syn X, based in Toronto, said it plans to launch a point-of-care test for CHF soon that incorporates the marker, NT-proBNP, along with another one.
SomaLogic to Conduct Aptamer Feasibility Study with Beckman Coulter
SomaLogic said it has signed an agreement with Beckman Coulter to conduct a feasibility study on the integration of its aptamer technology with Beckman Coulter’s liquid handling workstation and microarray plate and array reader platforms.
Under the agreement, SomaLogic, of Boulder, Colo., will work with Beckman Coulter’s Advanced Technology Center, which evaluates technologies as to their usefulness in future products.
Proteome Systems and CSIRO to Develop Data Mining Software
Proteome Systems and CSIRO Bioinformatics plan to develop software for the multivariate statistical analysis of protein expression data, the companies said this week.
Proteome Systems, headquartered in Sydney, Australia, plans to test the applications extensively and to integrate them into their BioinformatIQ system.
CSIRO Bioinformatics, also based in Sydney, is a wholly owned subsidiary of the Australian science research agency CSIRO.
Millennium Reports Increased Revenues, Steady Losses for Q2
Millennium Pharmaceuticals reported increased revenues for the second quarter, amid flat net losses and significant restructuring charges. The company’s revenues for the quarter totaled $121.7 million, compared to $91.9 million for the second quarter of 2002. R&D expenses increased slightly to $130.6 million, from $122.4 million for the year-ago period. The company’s net losses for the quarter were $107.1 million, compared to $107.7 million for the same period of 2002. In June, Millennium announced a major reorganization (see PM 6-13-03), and its expenses included a $65.3 million restructuring charge related to facilities that the company is no longer going to use. At the end of June, Millennium had $965.8 million in cash, cash equivalents, and marketable securities.
Biacore Reports Falling Revenues, Increased Income in Q2
Biacore’s total sales fell by 8 percent in the second quarter, the Uppsala, Sweden-based company said last week in its report for the first half of 2003. The company had sales of SEK142.5 million ($17.3 million) for the second quarter, compared to SEK154.6 million during the same period last year. R&D spending amounted to SEK31.5 million in the second quarter, compared to SEK32.3 million year-over-year. The company’s net income for the second quarter was SEK26.9 million, compared to SEK7.4 million in Q2 last year. Biacore said it continued to invest in the development of its new SPR array technology, which it plans to introduce in the second half of 2004.
Advanced Bio/Chem and Baylor to Study Biomarkers of Neurodegenerative Diseases
Advanced Bio/Chem has signed a research agreement with Baylor College of Medicine to search for biomarkers of neurodegenerative disease, the Woodlands, Texas-based company said last week.
Researchers at Advanced Bio/Chem will work with Stan Appel, chairman of the department of neurology at Baylor.
Riken Subscribes to Inpharmatica’s Biopendium
Japanese structural genomics center Riken has subscribed to Inpharmatica’s Biopendium proteome annotation resource, the London-based company said last week.
PharmaDesign, Inpharmatica’s Japanese partner, will provide Riken with training and support for the product over the subscription period.
Intradigm and Europroteome to Validate Cancer Target
Europroteome and Intradigm will collaborate on validating cancer targets using siRNA in animal models, the companies said last week.
Intradigm, based in Rockville, Md., will use its siRNA-based method to validate one of Europroteome’s cancer targets. Europroteome, based in Henningsdorf, Germany, has identified cancer targets based on proteomic and cell-based studies.