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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who started this subject1/16/2004 9:50:09 AM
From: Rande Is  Read Replies (2) of 57584
 

Nanogen And Transgenomic Enter Into Distribution Pact
Thursday January 15, 5:25 pm ET

SAN DIEGO and OMAHA, Neb. (Dow Jones)--Nanogen Inc. (NasdaqNM:NGEN - News) and Transgenomic Inc. (NasdaqNM:TBIO - News) will team up to bring Nanogen's genetic testing equipment to Western Europe.

Transgenomic's employees will sell the NanoChip Molecular Biology Workstation in selected Western European countries. The system complements Trangenomic's own WAVE System, the companies said in a press release Thursday.

Both systems scan for genetic variations, but while Transgenomic's system scans for any possible variation, known or unknown, Nanogen's system seeks out known, low-abundance mutations such as those involved in cancer development.

Trangenomic shares traded in the after-hours session at $2.90, according to INET, up from their regular session of $2.30.

Neither company was immediately available to comment on financial terms of the deal.

Tiffany Kary; Dow Jones Newswires; 201-938-5285.


Looks like we have another stock to add to our Nanotech basket. TBIO may pop over the next few days on unusual volume. Lottery ticket.

Rande Is
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