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Article: AFFYMETRIX PLANS $100 MILLION-PLUS ACQUISITION.
- Article from:
- BIOWORLD Today
- Article date:
- September 14, 1999
- Author:
CopyrightCOPYRIGHT 1999 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Affymetrix Inc.'s stock closed up 20 percent following news that theU.S. Patent and Trademark Office (PTO) ruled in favor of the SantaClara, Calif.-based company's intellectual property in its suit againstIncyte Pharmaceuticals Inc., which saw its shares fall 34 percent.
Separately, Affymetrix said it is acquiring Genetic MicroSystemsInc., a Woburn, Mass.-based instrumentation company specializingin DNA array technology in a stock deal that could be worth morethan $100 million. GMS manufactures and markets exportableinstruments for both fabricating and analyzing DNA arrays for use inlife science research.
Affymetrix is suing Incyte for patent ...