Affymetrix Links Up with DNA Link - Analyst Blog
February 11 2013 - 6:20AM
Zacks
Genetic products company,
Affymetrix Inc. (AFFX), inked a ‘Powered by
Affymetrix’ (“PbA”) Program agreement with Korea-based
biotechnology company, DNA Link Inc. Following the terms of the
deal, DNA Link acquired a global license to use Affymetrix’s
GeneChip System 3000Dx v.2 along with other microarray technologies
to develop a forensic test for human identification.
The GCS 3000Dx v.2 from Affymetrix is a second-generation solution
for DNA and RNA analysis. It has received the U.S. Food and Drug
Administration (“FDA”) approval as well as the European CE Mark for
in vitro diagnostic (“IVD”) uses. The system has also been cleared
by the Korean FDA.
DNA Link intends to combine Affymetrix’s leading GeneChip
technology with its cutting-edge forensic test, AccuID Chip, to
develop innovative molecular diagnostic tests for personalized
healthcare in the field of genomics.
Earlier, in Aug 2012, Affymetrix had signed a PbA Program agreement
with a Singapore-based molecular diagnostics company, PathGEN Dx
Pte. Ltd. Apart from PathGEN Dx, the company shares its technology
with Roche Diagnostics, a unit of Roche Holdings
Ltd. (RHHBY), and Pathwork Diagnostics.
Our Take
Affymetrix is a leading provider of microarray-based products and
services to the global research community. Apart from
Illumina Inc. (ILMN), it is one of the two major
providers of microarray technologies, primarily serving the field
of genetic research.
The latest agreement is in accordance with Affymetrix’s strategy to
expand its customer base through strategic alliances. Moreover, the
company is pursuing a number of strategies (including acquisitions
and expansion into new markets) aimed at expanding its top
line.
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 collaboration with DNA Link marks Affymetrix’s first
partnership venture in Korea. The agreement further allows
Affymetrix’s other PbA partners to enter Korea’s personalized
genomics market.
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.
The company currently carries a Zacks Rank #3 (Hold). Biotechnology
company, Alkermes plc. (ALKS), carrying a Zacks
Rank #1 (Strong Buy), is expected to do well in the
Medical-Biomed/Gene industry.
AFFYMETRIX INC (AFFX): Free Stock Analysis Report
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