Made some nice money on XENO earlier this year and am now back in the stock. From what I hear, the CEO (Pauline Gee) ia a reputable individual and certainly the deal announced today with PBSC lends credibility. With XENO's market-cap below $2 million the stock's risk/reward ratio looks pretty good to me. Here's the PBSC press release.
Tuesday November 14, 8:04 am Eastern Time
Press Release
Xenometrix Grants Gene Expression Profiling Patent
License to Packard BioScience Company
BOULDER, Colo.--(BW HealthWire)--Nov. 14, 2000--Xenometrix, Inc. (OTCBB:XENO - news) announced that it has
granted a worldwide license for gene expression profiling to Packard BioScience Company (Nasdaq:PBSC - news), giving
Packard access to claims covered in issued U.S. and European patents.
The license is non-exclusive and covers the collection of gene expression profiles utilizing all platforms, including biochips and high-density microarrays.
``Packard BioScience Company is a global leader in the manufacturing and marketing of instruments in the life sciences and we are pleased to have such an established company using Xenometrix's gene expression profiling technology. Packard BioScience brings its experience in the industrialization of new technologies in the life sciences to the evolving microarray platforms in the genomics field,'' stated Dr. Pauline Gee, President and Chief Executive Officer. Xenometrix and Packard BioScience have agreed to keep both revenue and licensing terms confidential.
``The proprietary gene expression profiling technology from Xenometrix will enable Packard to expand the applications of its biochip platform into the emerging molecular toxicology and toxigenomics markets,'' said Emery Olcott, Chairman and CEO of Packard BioScience. ``Our patented inkjet-style biochip production technology offers the economics of scale and versatility to manufacture biochips for a wide variety of applications in various industries. This agreement with Xenometrix further strengthens our portfolio of microarray technologies and applications and should enable Packard to take advantage of these high-growth opportunities.''
Packard BioScience Company is a leading global developer, manufacturer and marketer of instruments and related
consumables and services for use in the life sciences research industry. Packard is primarily focused on the rapidly growing areas of drug discovery, genomics and biochip analysis and is continuing to develop integrated platforms based on a wide range of technologies and instrumentation. These platforms are designed to support the industrialization of drug discovery by bringing the benefits of miniaturization, automation and ultra-high throughput analysis to these areas. Packard's experience in working in more than 60 countries with market-leading customers has allowed Packard to establish a worldwide leadership position in many of its primary product categories, with well-recognized brand names and a reputation for high-quality, reliable instruments. Recently, Packard has focused on the development of enabling biochip technologies, and has started to exploit the commercialization of its pioneering biochip production patents through both direct sales of biochip products, as well as through partnership agreements with Motorola, Inc. for gene chip applications, ACLARA BioSciences Company for lab-on-a-chip markets and Oxford GlycoSciences plc for protein chips.
Xenometrix is a biotechnology company with proprietary gene expression profiling and genotoxicology technologies used to
help pharmaceutical, chemical and biotechnology companies accelerate the selection of the most promising drug and chemical leads. For more information, please visit the Xenometrix web site at www.xeno.com.
Except for the historical information contained herein, this release contains forward-looking statements relating to future financial results or business expectations. Business plans may change as circumstances warrant. Actual results could differ materially as a result of risk-related factors over which Xenometrix has no control. Such factors include, but are not limited to, those discussed in ``Business,'' ``Risk Factors,'' and ``Management's Discussion and Analysis of Financial Condition and Results of Operations'' in Xenometrix's Form 10-KSB filed with the Securities and Exchange Commission for the year ended June 30, 2000.
Contact:
Xenometrix, Inc.
Pauline Gee, 303/447-1773, ext. 105
Facsimile: 303/447-1758 |
