AFFX Supports Research in S. Africa - Analyst Blog
November 26 2012 - 4:50AM
Zacks
Genetic products company,
Affymetrix Inc. (AFFX), recently entered into a
research and service partnership with South Africa-based Centre for
Proteomic and Genomic Research (CPGR) organization. The CPGR
organization will provide Affymetrix’s GeneTitan Multi-Channel (MC)
Instrument along with customizable Axiom Genotyping Arrays to the
African research community in order to advance high-throughput
genomics research and personalized medicine studies in Africa.
The GeneTitan family of instruments and the proven GeneChip Array
Plates are the company’s first hands-free, automated solution for
recording gene expression and genome-wide SNP genotyping. The
device’s unique features require minimal human intervention, which
in turn enhances laboratory accuracy and efficiency.
Affymetrix holds a leading position in population optimized
genotyping analysis and management believes that the partnership
with CPGR is in line with this strategy. The company is the pioneer
in developing a genotyping assays with its content extracted
particularly from the African population.
CPGR is a non-profit research organization funded by the Technology
Innovation Agency (TIA) to cater to the life science and biotech
researchers in South Africa. It was started under the guidance of
the Department of Science and Technology to develop the bio-economy
of the country.
Earlier, in August 2012, Affymetrix signed a ‘Powered by
Affymetrix’ (“PbA”) Program agreement with a Singapore-based
molecular diagnostics company, PathGEN Dx Pte. Ltd. Per the deal,
PathGEN Dx adopted a contract manufactured GeneChip microarray from
Affymetrix and uses its own proprietary PathGEN PathChip kit along
with an automated software package to develop an in-vitro
diagnostic (“IVD”) test for pathogen detection.
Our Take
Affymetrix is a leading provider of microarray-based products and
services to the global research community. Along with
Illumina Inc. (ILMN), it is one of the two major
providers of microarray technologies, primarily serving the field
of genetic research. Affymetrix holds a leading position in the
gene expression products and services market.
Affymetrix is expanding its customer base through new product
launches and strategic alliances and has reorganized its business
to drive future profitability. Moreover, the company is pursuing a
number of strategies (including acquisitions and expansion into new
markets) aimed at expanding its top line.
However, Research and Development spending by Affymetrix’s
customers have fallen considerably due to a weak macroeconomic
environment coupled with stringent government actions including
budget cuts.
We are currently ‘Neutral’ on the stock, which carries a short-term
Zacks #3 Rank (Hold rating).
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