Bioinformatics software company expands from software for life science research into predicitng the stock market.
Interesting article in Forbes magazine recently. Gene Network Sciences out of Cambridge, Ma has recently created a subsidiary company, Fina Technologies to leverage its Reverse Engineering, Forward Simulation Software platform into new markets–financial trading, insurance, and fraud detection.
The theory is that hidden complex networks govern everything from human disease to the financial markets. It sounds as [...]
New high resolution imaging system being developed to capture “early” photos of cancers.
An interesting article at The Technology Review published by MIT.
A new high resolution imaging system is being developed that hopefully will be able to take good quality photos of cancer in its early stages. The problem in the past has been that the more tissue a light has to penetrate, the blurrier the resulting images [...]
Some small biotech companies are now selling out early to bigger companies.
An article in the Washington Business Journal recently described how several small start-ups in the Baltimore area decided to sell out to larger companies rather than keep looking for venture capital in a difficult venture market. This will probably happen quite a bit more, at least into early 2009. Perhaps after the economy starts to [...]
Pharma companies creating incubators for start-ups.
Is this going to be a major new trend? Traditionally Universities have created start-up incubators that usually only provided cheap lab space and access to shared equipment. I know both Biogen Idec and Pfizer have created their own incubators.
As I understand it, Biogen Idec plans to invest from $3 to $10 Million in new firms [...]
Bush’s last-minute “Midnight Rule making” has begun
For better or worse, GWB has started the traditional (by all Presidents) making of rules that can end up having the force of law during the following administration. We’ll try to keep you informed of any that affect the industry as we hear about them.
Under one of these new rules, the FDA will be providing guidance to drug companies [...]
California Unemployment Rate jumps to 8.2% in October, highest level in 14 years.
The largest hit in the state was to the construction industry, followed by manufacturing. I would be curious to find out the rate in biotech/pharma. The unemployment rate in California for September was 7.7%.
Affymetrix to buy out Panomics
Affymetrix announced last week that they are buying privately held Panomics for $73 Million in cash. The deal is expected to close by the end of 2008.
We have not heard any comments from Affymetrix on whether they will keep all of the Panomics product line or if they will sell off or discontinue some items.
It [...]
Phenomix in San Diego to go public?
They do small molecule product candidates directed towards clinically validated targets. They have products in the pipeline for Diabetes, HCV and Cancer.
Back in January 2008 they filed a Registration Statement for a proposed IPO. I’ve heard rumors that they still plan on going through with the IPO, but I can’t imagine it happening in this [...]
CombinatoRX in Cambridge, Ma announces major layoffs
From a CombinatoRX News Release:
They have announced major new restructuring to enable them to ID novel product candidates. This restructuring will include a further reduction of their Cambridge workforce by about 30 employees, bringing the total workforce reduction to about 65%. They feel those measures should allow the company to operate without further equity financing [...]
Vast majority of ABI Stockholders elect to receive cash instead of Invitrogen stock
84% of Applied Biosystems stockholders requested cash for their ABI stock
2% of stockholders requested Invitrogen stock
7% of stockholders requested a combination of Invitrogen stock and cash
7% of stockholders did not make a valid election, so they are deemed to have chosen the mixture of cash and Invitrogen stock.
I’m not sure if the fact that most [...]
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