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Biotech / Medical : GLGC Gene Logic -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (254)	1/12/2007 12:18:04 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 360

In 2002 MetriGenix launched its 4D Assay System, includes arrays for 'cancer, inflammation and neural degeneration' www.proskelia.com/img/download/Octobre2002/Spendthrifty.pdf from 9-Aug-2006 10q Write-down of Equity Investment. In connection with our investment in MetriGenix, we had entered into a subscription agreement granting MetriGenix a license to use our BioExpress System and had been issued a warrant to enable us to maintain our 15% equity ownership in MetriGenix, which would terminate upon termination of the subscription agreement. In March 2006, we terminated the subscription agreement by mutual agreement and the warrant was therefore terminated. As a result, we recorded a $0.3 million write-down of the fair value of this warrant during the six months ended June 30, 2006. At June 30, 2006, the remaining book value of our investment in MetriGenix was $3.0 million, which we believe approximates fair value. Some more background Message 18761034 "FTC technology and Infineon's 4D Array System, jointly developed with MetriGenix" For all those involved, seems not to have gone anywhere, unless the names has changed again since 2004.