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IGEN |
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This to supercede the prior IGEN page. Since July 31, 1996, more info has been accumulated which more accurately reflects what seems to be happening with this company.
IGEN is the holder of Origen Technology which has been licensed to other companies that are significant players in the immunoassay field.
IGEN has licensed origen tech. to Boehringer Mannheim the rights to instruments for the central hospital labs and reference labs. IGEN only has a market cap of 100 million but BM has spent in excess of 400 million to bring Igen's tech to market. This is committment. 'Before I thought that 10 million was committment. IGEN will get 9% royalties on all sales of products and reagents (triple the usual rate).
The BM instrument, the electsys system 2010 has shown good acceptance with over 900 instruments placed in Europe (as of 1 month ago) and recent opening in the US. Orders are supposed to be backlogged. It appears that the company (IGEN) may become profitable this or the next quarter. BM has payed 50 million in royalties to IGEN.
Organon technica has paid 20 million in royalties for the rights to certain DNA and RNA tests based on origen tech.
Perkin Elmer sells the natural sciences version of the origen tech.
Elsai paid 8 million for the rights for certain applications in Japan.
The most promising short term development is the BM electsys instrument which is already placed and is paying royalties to IGEN now. The electsys appears to promise immunoassays faster, cheaper, and more sensitive than any commercial immunoassay available. Because of the cheaper part, the instrument appears to have a promising future beyond what is appreciated. Far more is spent on immunoassays than is realized. The saving to hospitals and reference labs make this instrument a definite consideration. Since the tech. appears to be as good or better, the cost advantage makes consideration of the instrument probable. The problem has been so far as I understand is that they place all of the instruments ahead of time (backordered) so they have not been advertising the products. The problem seems to be that the stock price has not gone up with the growing evidence of the potential of this company. (There does not seem to be a problem with selling the technology at all IMO).
The Origen tech can detect hormones, enzymes, DNA and RNA specific fragments without PCR applification, antibodies, and other trace substances on a scale much smaller and with a far greater log range (without dilution) than other tests,,,,and cheaper.
What is happening is based on current events. The instruments are here and are being placed. There is positive feedback. The Tisch group just increased their holdings to over 8%. :One way of seeing what is happening will be the next quarter report to come out end of JAN or first few days of FEB. Good luck to James, Bennett, and Don (the lurker).
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