Genometrix Signs Equity, Licensing and Research Agreement with Motorola.THE WOODLANDS, Texas--(BW HealthWire)--Sept. 15, 1999-- Genometrix Inc. announced today the execution of a combined equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , licensing and research agreement with Motorola Inc., expanding upon Noun 1. expanding upon - adding information or detail expansion step-up, increase - the act of increasing something; "he gave me an increase in salary" an earlier relationship established in December 1998. Motorola has bought an undisclosed amount of Genometrix preferred securities and obtained a license from Genometrix to procure certain fundamental DNA chip DNA chip See DNA microarray. Noun 1. DNA chip - a microchip that holds DNA probes that form half of the DNA double helix and can recognize DNA from samples being tested gene chip intellectual property for the commercialization of portable DNA-based analysis systems. In addition, the research agreement involves the application of proprietary Genometrix technologies to the Motorola biochip biochip Small-scale device, analogous to an integrated circuit, constructed of or used to analyze organic molecules associated with living organisms. One type of theoretical biochip is a small device constructed of large organic molecules, such as proteins, and capable of platform. The agreement promotes Genometrix's business strategy of broadly commercializing its fundamental DNA chip technology through both gene expression products and genotyping services offered by the company. External licensing programs enable strategic partners to further exploit the Genometrix technology platform in complementary markets, such as high-density array chips and portable DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. diagnostic systems. "We are extremely pleased to expand our partnership with Motorola," says Mitch Eggers Eggers may refer to:
1. crossbreeding; the act or process of producing hybrids. 2. molecular hybridization 3. devices, including electronic hybridization and stringency control, as well as proprietary tunable surface chemistries that warrant rapid DNA hybridization DNA hybridization Molecular medicine A technique for determining the presence of a target DNA in a sample of tissue or cells. See HLA analysis, Paternity testing, RFLP analysis. . By carefully defining complementary market opportunities, Genometrix and Motorola can mutually benefit from the innovations made by Genometrix since its invention of the electronic DNA chip. "As we looked for strategic partners to commercialize our technology in alternate markets, Motorola was a natural candidate. For 70 years Motorola has demonstrated profound vision and tenacity to not only enter uncharted markets, but to emerge as the undisputed leader through combined innovation and the relentless commitment to quality. And it is such exemplary commitment to perfection, implemented through their award-winning Six Sigma Quality principles (recipient of the first Malcolm Baldrige National Quality Award The Malcolm Baldrige National Quality Award is given by the United States National Institute of Standards and Technology. Through the actions of the National Productivity Advisory Committee chaired by Jack Grayson, it was established by the Malcolm Baldrige National Quality ) that will be necessary for producing reliable FDA-approved DNA chips for point-of-care diagnostics." "Genometrix is a pioneer in the area of biochips and has developed a number of interesting technologies," said Nicholas Naclerio, vice president and general manager of Motorola's BioChip Systems unit. "The technologies and rights we acquired under this agreement will further advance our goal to secure a primary position in the development of biochip systems. Our expanded relationship will be a win for both companies." Genometrix Inc., located in The Woodlands, Texas, is a pioneer in the development of high-throughput microarray technology for applied genomic, diagnostic and pharmaceutical development. Additional information can be obtained at: http://www.genometrix.com . Please note: Effective September 15, Genometrix's phone number will be 281/465-5000. The fax number will be 281/465-5002. |
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