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Article: NANOGEN, HITACHI ENTER 10-YEAR, $200M DEAL FOR INSTRUMENTATION.(Brief Article)
- Article from:
- BIOWORLD Today
- Article date:
- August 3, 2000
- Author:
CopyrightCOPYRIGHT 2000 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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Nanogen Inc., of San Diego, has signed a long-term agreement with Hitachi Instruments Service Co. Ltd., of Tokyo, for the development, manufacturing and distribution of instrumentation technology. The deal is estimated to be worth more than $200 million over a 10- year period.
The arrangement between the companies dedicates $57 million to application development over 10 years, and could include more than $140 million for instrument development, manufacturing, marketing and commercial development.
Nanogen Senior Vice President and Chief Financial Officer Kiernan Gallahue said the deal should benefit Nanogen in at least two ways.
"It's an ...