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Roche tender offer for Illumina, Inc: $44.50 per share in cash

27-01-2012. Roche announced today that it has commenced a cash tender offer to acquire all outstanding shares of Illumina, Inc. (NASDAQ: ILMN). The offer and withdrawal rights are scheduled to expire at 12:00 midnight, New York City time, at the end of the day on February 24, 2012, unless the offer is extended. Under the terms of the offer, Roche is offering to acquire Illumina for $44.50 per share in cash, or an aggregate of approximately $5.7 billion on a fully diluted basis. This offer represents a premium of 64% over Illumina’s closing stock price on December 21, 2011 – the day before market rumors about a potential transaction between Roche and Illumina drove Illumina’s stock price significantly higher – a 61% premium over the one-month historical average and a 43% premium over the three-month historical average of Illumina’s share price, both as of December 21.


Roche’s offer is conditional upon, among other things, (i) the tender by Illumina’s stockholders prior to the expiration of the tender offer of a number of shares, which, together with the shares owned by Roche, represents at least a majority of the total number of shares outstanding on a fully diluted basis, (ii) the redemption of the preferred stock purchase rights associated with the shares or Roche’s satisfaction in its reasonable discretion that such rights have been invalidated or are otherwise inapplicable to the tender offer and the proposed merger, (iii) Roche’s satisfaction that the anti-takeover provisions of the Delaware General Corporation Law are inapplicable to the proposed merger and (iv) Illumina must not have entered into or effectuated any agreement or transaction with any person or entity having the effect of impairing Roche’s ability to acquire Illumina or otherwise diminishing the expected value to Roche of the acquisition of Illumina. If following the consummation of the offer Roche owns at least a majority of the outstanding

Source: Roche

 

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Horizon Discovery: Mitigating risks and developing the U.S. business

Tasks ahead for Eric Rhodes, the new CTO

(C) Horizon Discovery 201225-01-2012. Eric T. Rhodes has been appointed CTO of Horizon Discovery. His task is to mitigate major risks for the company’s business, in particular in the US which is the most mature market for the company’s products. B2Bioworld took a closer look at the strategy the new CTO has to implement.

 

 

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Horizon Discovery Appoints Eric Rhodes as Chief Technical Officer

Company Press Release – free of charge

Horizon Discovery: Collaboration in Inducible Human Pluripotent Stem Cells

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Horizon Discovery Appoints Eric Rhodes as Chief Technical Officer

23-01-2012. Horizon Discovery (Horizon), a leading provider of research tools to support the development of personalized medicines, has announced the appointment of Eric Rhodes as Chief Technical Officer, Gene Targeting.Eric has over twenty years’ experience in technology development and senior executive roles, most notably as Vice President of Business Development at Sangamo Biosciences (NASDAQ:SGMO) between 1998 and 2008 and most recently as Business Development Director for Sigma-Aldrich Corp (NASDAQ:SIAL). At Horizon, Eric will be the Company’s primary expert in human and mammalian gene targeting methods, with significant input into R&D and marketing for rAAV-mediated genome editing technology. He will also play a key role in supporting sites participating in Horizon’s Centers of Excellence Program.

Dr Darrin Disley, CEO of Horizon, commented: “Eric has a proven track record of delivery in the biotech industry, backed by a broad knowledge of the gene-editing field, and so brings added perspective to our technology, IP and commercial strategies. I’m delighted to welcome him to Horizon, and look forward to seeing him make an impact within an innovative, dynamic and entrepreneurial environment.”

Plasmid-based homologous recombination techniques have been used primarily to create transgenic mice from embryonic stems cells (an approach that received the Nobel Prize in 2007 for Mario R. Capecchi, Sir Martin J. Evans and Oliver Smithies). However, in these cell-types, recombination frequencies are naturally very high to support DNA repair during cell-division; whereas in non-dividing or differentiated somatic cell types, this process is essentially shut off. This has been a serious restriction in creating genetically defined human disease models; where one cannot utilise the natural process of homologous recombination to precisely and permanently alter any target endogenous gene in the human genome, without eliciting unwanted off-target genetic changes or integration-site errors.

Source: Horizon Discovery / Zyme Communications
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Eppendorf Mastercycler nexus – PCR instrument which sends status emails

(C) Eppendorf 2012Designed to be affordable, flexible and reliable, the Eppendorf Mastercycler nexus incorporates Eppendorf’s flexlid™ concept with automatic height adjustment of the lid. In combination with the universal block this allows use of the widest variety of PCR consumables, from large 0.5 mL tubes down to low profile plates and strips, and therefore a correspondingly wide range of reaction volumes. Excellent block homogeneity and temperature accuracy deliver highly reproducible results. The Mastercycler nexus gradient model provides a true gradient with 12 different temperatures and features SteadySlope technology to ensure that the heating and cooling ramp rates are identical in both optimisation and routine experiments.

With low noise emission, unrivalled at only <40 dB(A), the Mastercycler nexus will not disturb an environment where complex work is carried out. Energy efficiency is a further benefit: only 0.154 kWh are needed for a PCR and standby power consumption is 6 W. The small footprint and front-to-back ventilation system save space and allow units to be placed side-by-side. To increase PCR throughput one or two Mastercycler nexus eco modules (with no control buttons or display) may be connected to the Mastercycler nexus.

 

 

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System Biology: In search of good questions

Walter Kolch on the approach taken by Systems Biology Ireland

Systems Biology Ireland core scientific areas 2011December 2011. Prof. Walter Kolch, Director, Systems Biology Ireland & Conway Institute at University College Dublin describes SBI’s approach to systems biology in an exclusive interview with B2Bioworld. What is unique compared to Institutes at Seattle, Tokyo, Singapore, Luxembourg, or other where. What is the role of theory to guide experiments? Is there a non-trivial meaning of “perturbation” experiments? Which diseases are targeted, and which strategies are followed to answer those questions which AstraZeneca, Hewlett Packard, Pfizer, Servier, and other pharma and IT partners are eager to know beforehand.

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Eurofins helps Pasteur de Lille out of the doldrums

Prospects of IPL's analytical services business

Pr. Pierre Amoyel (C) Institut Pasteur de Lille 2011November 2011. The foundation has to share command, but it retains control of its majority shareholder. An unmasked account by Caroline Rothschild and Wolf G Kroner of IPL's past failures, assessment of the transaction including comments by Gilles Martin, CEO of Eurofins, with regard to the financial value of the deal, and prospects to relaunch Pasteur de Lille's analytic services business.

 

 

 

 

Comment

At the crossroads: Carry on tradition or reconsider past values

With its stake in IPL Santé Environnement Durables (IPL SED) Eurofins takes a bold step: It needs operational involvement in the entire IPL group, but has direct control over only two albeit major firms. Today the IPL SED network is an artful conglomerate of firms, associations, public agencies in France. Central command is with a research foundation of benefit to the public, i.e. Institut Pasteur de Lille (IPLF), which has the same name as the reputed research institution (IPL), but operates different. The foundation performs not itself research, but manages three major revenue streams: public subsidies, donations and legacies, taxable commercial income (service contracts, licences etc.).

 

IPLF’s ways of doing business clash with Eurofin’s approach as the former is oriented to paradoxical operations. In december 2002 the foundation was spun-off Pasteur Lille which already operated several IPL SED firms. IPLF was not a response to market needs, but to new regulations offering tax breaks and other privileges for research foundations. The intention of government was not supporting selfish missions, but to support fundraising for research of benefit to the public.

 

Institut Pasteur de Lille in the Nineties

It is true that the foundation has been acting like its honourable peers. Pursuing multiple objectives through a centrally administered network of non-profit and for-profit organisations, permanent and ad hoc-groups, voluntary and professional units. As is known this offers considerable operational advantages: You may tap donations as well as royalties, subsidies as well as fees for service. Morever, it offers considerably more freedom to operate. One can (legitimately) hide some activities, while highlighting others in the public domain. You may adapt regulations to your activities and have the same regulations make the task more difficult for competitors. Paradox operability reduces accountability pressures, in particular in case of financial loss. Operating in paradox is a smart business approach, but it is not a solution for all purposes and forever. It works well in political environments, in rather static markets with a local customer base and predominantly personal transactions. Paradox operations become dysfunctional, if applied to large-scale services for industry in globalised markets. The commercial disaster of IPLF venturing into the latter environment is a vivid example.

 

At the moment IPLF is rescued. Nevertheles it needs further capital to ensure the sustainability of IPL SED. New revenues have to be generated from sales of analytic services, because it appears that public financial support is exhausted. A lingering issue is to re-assure current customers of IPL SED that they continue to receive the quality of products and services they need. Re-structuring analytical services is not sufficient. Eurofins offers IPLF a breather, but it has to take provisions against being driven to pump additional cash and inflate an investment which was modest at the outset. For the foundation’s commercial services business to become profitable and create shareholder value it has to break with its tradition of paradoxical operations: Profits for particular interests, losses in the public interest. Will it withdraw from steering an industrial business, and concentrate instead on its core mission which is to mobilise donations and subsidies to fund research of benefit to the public? At issue is neither replacement of individual managers, nor paying lip service to lofty goals, nor proclaiming ambitious plans. It is simply renouncing on paradox operations and a principled decision by Institut Pasteur de Lille’s shareholders to reconsider past values.

Wolf G Kroner

 

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GATC Biotech and the ETH Zurich to establish Method for Quality Assurance in Food Production

21-07-2011: GATC Biotech, in collaboration with the Institute of Food, Nutrition and Health at the Swiss Federal Institute of Technology Zurich (ETH Zurich), is developing a cost efficient method for taxonomic characterization of microbial communities present in food. This industry related application, which is realized at GATC Biotech in Konstanz, aims to explore the causes for spoilage of cheese during industrial production and analyzes the complexity in bacterial populations, providing general understanding about spoilage of biological goods.


GATC Biotech will establish new methods for quality assurance that will provide valuable information concerning food safety quality control, optimization of production yields as well as food production processes. This quality assurance method will be applicable to many other industrial feed or food production fields, e.g. in fisheries, butcheries, breweries, or wherever production is based on directed formation of complex microbial ecological systems in goods. “The project will be performed by multiplatform sequencing, using all leading sequencing technologies, including our latest acquisition, the PacBio RS from Pacific Biosciences”, explains Dr. Kerstin Stangier, Director Business Development at GATC Biotech. “With this new Third Generation Sequencing technology, DNA and RNA of a consortium of microbial population can be sequenced at a time - including epigenome sequencing and characterization. We are therefore able to provide a time- and cost-effective method in accordance to GATC Biotech’s declared aim to offer our customers the best possible value for their sequencing projects.”


The Metatxn Project is funded by the BMWi (Federal Ministry of Economics and Technology) with around 120,000 Euros.

 

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Phosphatase inhibition assays as alternative for the detection of okadaic acid toxins

June 2011. ZEU-INMUNOTEC has recently attended to the XI Iberian Meeting on Harmful Algae and Biotoxins which took place in Bilbao, Spain. Dr Smienk and collaborators presented an in-house validation and ruggedness study of the ready-to-use phosphatase inhibition assay for the detection of Okadaic toxins. (Okatest, before known as Toxiline-DSP kit) Phosphatase inhibition assays could be used as an alternative for the detection of the okadaic acid toxins, as phosphatases are known to be their natural target. ZEU-INMUNOTEC has validated the commercially available Okatest kit (based on the phosphatase inhibition assay) according to international recognized guidelines for method validation (AOAC, EUROCHEM).

The repeatability was evaluated with 2 naturally contaminated samples. The relative standard deviation (RSD) calculated was 1.4 % at a level of 276 g/kg and 3.9 % at a level of 124 g/kg (n = 8). Intermediate precision was estimated by testing 10 different samples (mussel and scallop) on three different days and ranged between 2.4 and 9.5%. The IC50 values of the phosphatase used in this assay for OA, DTX-1 and DTX-2, together with accuracy and method comparison were also studied.

An in-house validation is only a first step to the complete a method validation. Okatest has also been validated by the European Union Reference Laboratory for Marine Biotoxins and a collaborative study with a total of 16 labs has been recently carried out. All the above studies have shown that the colorimetric phosphatase inhibition assay, Okatest, could be used as an alternative or complementary test for monitoring OA-toxins.

 

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Neogen acquires VeroMara from GlycoMar Ltd.

20-06-2011. Neogen Corporation (NASDAQ: NEOG) announced today that it has acquired the assets of the VeroMara seafood testing laboratory from its parent company, GlycoMar Ltd. Based in Oban, Scotland, VeroMara offers testing services to the shellfish and salmon aquaculture industries. VeroMara’s services include testing for shellfish toxins, general foodborne pathogens, including E. coli, noroviruses, and salmon husbandry. VeroMara recorded revenues of approximately $800,000 (U.S.) in its most recently completed fiscal year. Terms of the acquisition were not disclosed.


“The acquisition of VeroMara deepens Neogen’s advancement into the aquatic sciences,” said James Herbert, Neogen’s CEO and chairman. “VeroMara’s services are complementary and a nice fit with our existing product lines for the seafood industry, including one of our biggest food safety diagnostic products — our histamine tests for the tuna industry. The VeroMara purchase also provides Neogen with key collaborative relationships with influential aquaculture partners, and increased access to important international markets. “Our new operation in Oban will work in close cooperation with our Neogen Europe headquarters in Ayr, Scotland, providing expanded products and services to a larger customer base,” Herbert continued. “Our sales and marketing operations in Ayr have the capability to expand VeroMara’s business to several other European countries.” “The sale of our VeroMara testing service allows GlycoMar to focus on our core business — marine natural product research and development,” said Dr. Charles Bavington, GlycoMar’s managing director. “We are pleased to have VeroMara join Neogen, a company we respect as being one of the world leaders in food safety. This transition will guarantee uninterrupted quality service to our customers.”


In addition to its comprehensive line of rapid foodborne pathogen, sanitation monitoring and histamine tests that it offers the seafood industry, Neogen recently released rapid tests to detect toxins in shellfish that cause amnesic shellfish poisoning (ASP) and diarrhetic shellfish poisoning (DSP). The detection of ASP and DSP toxins has been a key service VeroMara has offered its customers. Neogen Corporation develops and markets products dedicated to food and animal safety. The company’s Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, genetic modifications, food allergens, drug residues, plant diseases and sanitation concerns. Neogen’s Animal Safety Division markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals, nutritional supplements, disinfectants, and rodenticides.

 

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Roche´s xCELLigence RTCA HT System: Fully-automated Measurement of Therapeutic Targets` Cellular Activity

High throughput, real time impedance-based secondary screening of Ox1 GPCR hits

16-06-2011. Label-free technologies have entered the stage of cellular drug discovery and high-throughput screening (HTS). For the measurement of G protein-coupled receptor (GPCR) activation electrical impedance represents an excellent universal readout technology, since different signaling pathways can be measured in one assay format using recombinant as well as primary cells. The recently developed xCELLigence RTCA HT Instrument from Roche Applied Science (SIX: RO, ROG; OTCQX: RHHBY) now allows to perform fully-automated impedance screens for GPCRs and other targets in the 384-well high-throughput format.

In a recent case study (1), Urs Lüthi and John Gatfield from Actelion Pharmaceuticals Ltd., Allschwil, Switzerland, integrated 2 RTCA HT (real-time cell analyzer for high-throughput) Instruments on an automated high-throughput screening platform from Agilent Technologies (Santa Clara, US). 263 antagonist hits of the orexin type 1 (Ox1) GPCR that had been identified in a classical calcium flux (FLIPR) HTS were screened for Ox1 inhibition in fully-automated RTCA HT assays. The overall performance, the quality of E-Plates 384 and intra- and inter-assay reproducibility were evaluated. 65% of the 263 antagonist hits were confirmed to be Ox1 receptor antagonists after impedance measurements. According to the researchers, the RTCA HT Instrument could be readily integrated into automated workflows and delivered a highly reproducible data set, making the RTCA HT Instrument a powerful screening technology.

Compared to standard readout technologies one of the major advantages of label-free technologies is that cellular processes are measured in real-time kinetics in a non-invasive manner. The xCELLigence System uses gold electrodes at the bottom surface of microplate wells as sensors to which an alternating current is applied. Cells that are grown as adherent monolayers on top of such electrodes influence the alternating current at the electrodes by changing the electrical resistance (impedance). The degree of this change is primarily determined by the number of cells, strength of the cell-cell interactions, interactions of the cells with the microelectrodes and by the overall morphology of the cells. 

(1) Lüthi and Gatfield (2011), European Biotech News No. 5-6, Vol. 10, p. 38.

 

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