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Technology Stocks : Luminex Corp. LMNX -- Ignore unavailable to you. Want to Upgrade?

To: Sylvia Dupuis who wrote (10)	3/24/2000 2:34:00 PM
From: Hamilton Rogers	Read Replies (1) \| Respond to of 47

Sylvia, Regarding NGEN, the last time I looked they were over promising and under delivering at the time of their IPO. So I haven't followed the progress for some time. I know what it sells for now, so they must have done something right. Regarding AFFX, this is very expensive high end gene sequencing equipment and LMNX just won't be there. Also the last time I looked there was still a debate going on regarding the reuse of the chips which at that time cost well over 100 thou and you need some fancy HP equipment to boot. The Luminex device is about 25 thou and is stand alone. AFFX won't be down here, IMO, cause they can't meet the very inexpensive price per test. What I like about the LMNX model is that they have identified many areas in clinical testing and genomic examination which represent a sweet spot for them and treat this broad landscape of testing applications as though it were real estate. They are developing a large network of collaborative partners who will license specific areas. Say you are a R&D group who are skilled in disease X, you license an exclusive or sometimes non-exclusive right to develop the bio-assays for that topic for which you will pay a licensing fee. Both you and the company get a payday in the form of royalties every time the test is made (think Qualcomm). This structure has the effect of getting lots of bio-assays developed quickly without draining corporate funds. After the bio-assay for disease X is developed, the company processes the microspheres into color coded sets to enable the specific bio-assay required in a quality controlled environment. The company sells the bio-assays kits to the clinical lab, research lab or whatever in quantity (think Gillette). Please bear in mind that I am not a technical person and if you have any real interest in the stock, you should get a prospectus from one of the underwriters and study it.