Affymetrix Inks Deal with UK Biobank - Analyst Blog
March 28 2013 - 8:50AM
Zacks
Genetic products company,
Affymetrix Inc. (AFFX) entered into a major
contract with UK Biobank, a long-term epidemiological study
investigating complex human diseases affecting public health. The
Axiom Genotyping Solution from Affymetrix will be used to generate
superior-quality genotypes, which in turn will provide researchers
with valuable data to study genetic factors in human diseases.
The UK BioBank has collected 500,000 DNA samples from UK residents
between the age of 40 and 69 from 2006 till 2010. The aim of this
large scale project is to improve the diagnosis and treatment of
diseases such as cancer, heart diseases, stroke, diabetes,
arthritis, osteoporosis, eye disorders, depression and forms of
dementia.
The alliance with UK Biobank is in accordance with Affymetrix’s
long-term strategy to expand its reach into the translational
medicine market. The Axiom Genotyping Solution from Affymetrix is
perfectly suitable for such large scale genotyping studies. Its
flexibility and ability to produce a large amount of data in a cost
effective manner has provided the solution with a competitive
edge.
However, management does not expect any material gain from the
contract in 2013 as it will start providing data at the end of the
year. The major portion of revenues is expected to be generated in
2014.
Earlier in Nov 2012, the company had entered into a research and
service partnership with South Africa-based Centre for Proteomic
and Genomic Research (CPGR) organization. The CPGR organization
provided 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.
Affymetrix is a leading provider of microarray-based products and
services to the global research community. Along with
Illumina (ILMN), it is one of the two major
providers of microarray technologies, primarily used in the field
of genetic research. Affymetrix holds a leading position in the
gene expression products and services market.
However, research and development spending by Affymetrix’s
customers have fallen considerably due to a weak macroeconomic
environment coupled with stringent government actions such as
budget cuts.
The company currently carries a Zacks Rank #3 (Hold). Companies
like Cleveland BioLabs (CBLI) and
Cytokinetics (CYTK), both carrying a Zacks Rank #1
(Strong Buy), are expected to do well in the Medical-Biomed/Gene
industry.
AFFYMETRIX INC (AFFX): Free Stock Analysis Report
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