Decided to follow the HTS Biosystems trail. They are majority owned by a BB company called Quantech Ltd, which uses SPR technology licensed from Ares-Serono (specifically Serono Diagnostics) for Emergency Department test products. QQQQ.OB's stake is 73%. The minority holder? ABI. HTS' sales contribute way more than do the diagnostics at the moment, which means that QQQQ.OB is a trickle company. They will need money and are trying to get a bank line for $2.5 million, and to raise more through equity. The stock is so cheap that if they are successful in either endeavor, it should support the stock price in spite of the dilution. There is, of course, very little support right now from reputable instituitions.
sec.gov
>>The Company has two reportable segments: Quantech Ltd. (Quantech) and HTS
Biosystems, Inc. (HTS). Quantech is completing development of a system for the
hospital emergency department that is expected to run tests for a number of
different medical conditions utilizing its proprietary technology, surface
plasmon resonance (SPR). HTS is focused on developing detection systems using
SPR and other technologies for the functional genomics, proteomics and drug
discovery markets. The accounting policies of the segments are the same as those
described in the summary of significant accounting policies.
<TABLE>
<CAPTION>
Three months ended March 31, 2001
Quantech HTS Total
- ------------------------------------------- --------------------- ------------------- ---------------------
<S> <C> <C> <C>
Net Sales $ 11,303 $ 16,954 $ 28,257
Interest Income 17,687 4,009 21,696
Interest Expense 3,875 0 3,875
Depreciation and amortization 196,121 4,208 200,329
Segment loss (2,930,539) (589,798) (3,520,337)
Cash 563,042 1,505,440 2,068,482
Total assets $ 4,330,894 $ 1,649,017 $ 5,979,911
- ------------------------------------------- --------------------- ------------------- ---------------------
<CAPTION>
Nine months ended March 31, 2001
Quantech HTS Total
- ------------------------------------------- --------------------- ------------------- ---------------------
<S> <C> <C> <C>
Net Sales $ 11,303 $ 56,954 $ 68,257
Interest Income 65,187 37,378 102,565
Interest Expense 27,855 0 27,855
Depreciation and amortization 425,295 10,370 435,665
Segment loss (7,022,972) (1,714,731) (8,737,703)
Cash 563,042 1,505,440 2,068,482
Total assets $ 4,330,894 $ 1,649,017 $ 5,979,911
- ------------------------------------------- --------------------- ------------------- ---------------------
</TABLE>
No segment information is presented for the three months and nine months ended
March 31, 2000 as HTS did not begin operations until April 2000.
QUANTECH LICENSED OR SUBLICENSED PATENTS
<TABLE>
<CAPTION>
PATENT NO. TITLE JAPANESE PATENT NO.
- ----------------------------------------------------------------------------------------
<S> <C> <C>
US 4,931,384 Optical Assay Technique (Merlin I) JP 1903195
US 5,118,608 Optical Assay Technique (Merlin I) JP 2502222
US 4,882,288 Assay Technique and Equipment JP 1928364
(Merlin II)
US 4,992,385 Polymer-Coated Optical Structures JP 2528134
and Methods of Making and Using JP 2592588
the Same (Cellulose Nitrate Films)
US 4,828,387 Film Measuring Device and Method JP 2511057
with Internal Calibration to
Minimize the Effect of Sample
Movement (Calibration Notches)
US 5,310,686 Polymer-Coated Optical Structures JP 2710243
(Sensor Using Photoresist)
CA 1,302,875 (Waveguide Sensor) JP 2572829
US 6,093,536 (Enhanced SPR Assay) JP 2073383
</TABLE>
QUANTECH OWNED PATENTS
<TABLE>
<CAPTION>
U.S.
SERIAL NO. TITLE
- ----------------------------------------------------------------------------------------------
<S> <C>
09/564,140 Method and Devices for Signal Position Analysis
09/680,702 Methods and Devices for Assays Using Analyte-Binding Partners
</TABLE>
snip
Perhaps this can be compared to BCOR's patent portfolio. No litigation mentioned here, at least.
The supposed advantages versus competing SPR techniques seem to be chiefly in cost. But this allows HT screening applications that are prohibitive with BCOR products? Checking. As a start:
htsbiosystems.com
Cheers, Tuck
