Genetic products company,
), recently inked a 'Powered by Affymetrix' ("PbA") Program
agreement with Singapore-based molecular diagnostics company,
PathGEN Dx Pte. Ltd.
Per the terms of the deal, PathGEN Dx will adopt a contract
manufactured GeneChip microarray from Affymetrix and use its own
proprietary PathGEN PathChip kit along with an automated software
package to develop an in-vitro diagnostic ("IVD") test for pathogen
Management at Affymetrix are optimistic about the collaboration
with the award-winning PathGEN Dx, a start-up company founded by
researchers from the Genome Institute of Singapore, under the
Agency for Science, Technology and Research ("A*STAR") to develop
cutting-edge molecular diagnostic tests.
The resulting IVD test should help researchers detect the entire
range of bacteria and viruses in their samples and enable quick
disease detection followed by proper treatment.
The PathGEN PathChip Kit is PathGEN Dx's front-line pathogen
detection device, which can be flexibly used in various research
and diagnostic organizations including pharmaceutical companies. By
utilizing Affymetrix's GeneChip microarray, the device will be able
to identify as many as 70,000 infectious genomes from a wide range
of human samples as well as accurately interpret genomic
information and detect co-infecting pathogens.
The 'Powered by Affymetrix' Program is an initiative by Affymetrix
which allows other companies to gain access to its GeneChip
technology in order to develop new microarray products and
solutions. The PbA Program agreement with PathGEN Dx allows
additional access to Affymetrix's distribution network. Apart
from PathGEN Dx, the company shares its technology with Roche
Diagnostics and Pathwork Diagnostics.
Neutral on Affymetrix
We currently have a Neutral recommendation on Affymetrix, which
carries a short-term Zacks #2 Rank (Buy). Affymetrix holds a
leading position in the gene expression products and services
market. Along with
), it is one of the two major providers of microarray technologies,
primarily used in the field of genetic research.
Affymetrix is shifting its research and development (R&D) focus
from the discovery and exploration markets to the faster-growing
validation and routine testing markets. The company reckons
cytogenetics and cancer research as promising areas for expansion,
representing market opportunities of roughly $200 million and $500
However, the company is operating in an intensely competitive
industry and faces risks associated with lower microarray demand
and R&D spending by its customers due to a weak economy and
government actions including budget cuts.
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