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Biotech / Medical : AFFYMETRIX (AFFX)

AFFX 14.01

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Apr 1 5:00 PM EST

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To: Steve Lokness who wrote (814)	12/20/1998 1:01:00 PM
From: Richard Haugland	Read Replies (1) of 1728

Gene Logic (GLGC) I was really not too familiar with what this company was doing. Thanks for pointing it out. There is a good description of their Flow-thru Chip at their Web site genelogic.com as well as about their overall READS technology. The chip seems to be used for cellular assays of gene expression and apparently involves flowing probes through channels that give the target a higher surface area and presumably faster hybridization rate. It uses fluorescent oligos as detection reagents. They have a few patents that apparently mostly cover the chemistry of attachment of the oligos to the microchannels. I suspect that there may be some overlap with broad AFFX patents such as the general two color detection patent that AFFX recently got. Of course, like AFFX's technology, there is not always a very good correlation between gene expression and protein expression in cells. I will see if I can find our more about Gene Logic. They also acquired Oncormed last year, of course, but wrote off a lot of research in progress on their books. I note that Yahoo lists a P/E of 1.13 (!!!) but don't know where they got that number.

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