Celera Takes Stake in Japanese Firm
URL: http://www.washtech.com/news/biotech/8484-1.html
Date accessed: 22 March 2001
Wednesday, March 21, 2001 By Terence Chea , Washington Post Staff Writer |
Celera Genomics Corp.’s decision to take a minority stake in a
Japanese biotechnology company will allow the Rockville firm to
strengthen its ties to Japan’s life science industry and collaborate
on cutting-edge genetic research, Celera executives said Wednesday.
Celera, which sells access to large databases of genetic information, announced yesterday that it will acquire a little less than one-third of Tokyo-based HuBit Genomix Inc., a new venture focused on analyzing genetic variations responsible for various diseases to develop new drugs and diagnostic tests. HuBit was founded in April last year and funded by Japanese venture capital firm CSK Venture Capital. Celera, a subsidiary of Applera Corp. of Norwalk, Conn., will become its second-largest shareholder. The companies did not disclose financial details of the agreement. "We see it as a very complementary fit for the two companies," said Paul Gilman, Celera’s director of policy planning. "We’ll be able to work on diseases of mutual interest and take advantage of some of the advances they make." Celera executives also said the investment will allow the Rockville firm to strengthen relationships with major universities, pharmaceutical companies and biotechnology firms in Japan. "Japan is a premier spot both for their research capability and for their evolving and growing pharmaceutical business," Gilman said, adding that selling database subscriptions in Japan is part of a larger strategy of targeting genetic research organizations around the world. "We see six of the seven continents as important places for customers." Several Celera officials, including J. Craig Venter, Celera’s president and chief scientific officer, are traveling in Japan this week to visit existing and potential customers.
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© 2001 The Washington Post Company
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Category: 19. General Patent and Biotechnology Information