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Biotech / Medical : CYTO -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (7949)	10/3/2000 12:38:21 PM
From: Jim Oravetz	Respond to of 8116

Axcell News posted Message 14492750 Jim

To: Jim Oravetz who wrote (7949)	10/3/2000 12:39:20 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 8116

ROCKVILLE, Md,-(BW)-Oct. 3-InforMax, Inc. (Nasdaq: INMX) announced today the initial public offering of 5,000,000 shares of common stock at a price of $16 per share. Gross proceeds will total $80 million, before deducting expenses for the offering and underwriting discounts and commissions. Bear, Stearns & Co. Inc. acted as lead managing underwriter, and U.S. Bancorp Piper Jaffray and Adams, Harkness & Hill, Inc. acted as co-managers. InforMax is a leading global provider of bioinformatics software solutions for the analysis and interpretation of genomic, proteomic and other biomolecular data. InforMax's software solutions are designed to enable researchers to more efficiently organize, share, analyze and interpret data that form the genetic blueprint of all organisms. The Company's principal products are the Vector NTI(R) desktop suite and the GenoMax(R) enterprise platform for networks of linked computers. Copies of the final prospectus relating to the initial public offering may be obtained from: -- Bear, Stearns & Co. Inc., 245 Park Ave., New York, NY 10167 -- U.S. Bancorp Piper Jaffray Inc., 222 South Ninth Street, Minneapolis, MN 55402 -- Adams, Harkness & Hill, Inc., 60 State Street, 12th Floor, Boston, MA 02109 ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ InforMax (INMX) 16: While it's too early for indication on where this IPO will open, it priced after the close yesterday at $16. now that we have the world's first working draft of the entire human genetic code, companies have been popping up to help organize, analyze and interpret the rapidly growing data sets to assist in the treatment of disease and agricultural production etc. Bioinformatic software provides tools for researchers to address this problem. A recent report estimates the world-wide bioinformatics market at $468 mln in 2000, growing to $2.0 bln in 2005 and $5.4 bln in 2010 as organizations are increasingly turning to external vendors of bioinformatic software solutions so that they can focus on their core research competencies....Companies in this space are seizing the moment and taking their companies public. Three competitors, all of which have gone public in the last two months, have claimed some impressive market caps: LION Biosciences (LEON 96 +2 3/8), Genomica (GNOM 19 -1/16), Rosetta Inpharmatics (RSTA 27 5/8 -1 3/8) with mkt caps of $1.7 bln, $426 mln and $878 mln, respectively, on low revenues. At $16 per share, INMX priced with a mkt cap of $300 mln, lower than its peers. However, speaking of revenue, INMX's total revenue for the first 6 months was $6.5 mln, up 44% yoy - not that great of an increase over a small base last year....If you dislike these companies on a fundamental basis, keep an eye on them as secondary plays on the genomic sector. When the genomic stocks rally, you should see money trickle down to these software plays soon after. -- Robert J. Reid, Briefing.com +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 11:31 ET Informax (INMX) 22 7/8 +6 7/8: -- Update -- IPO opens for trading at $22 1/8 Jim