Word: celera
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RESIGNING. J. CRAIG VENTER, 55, brash maverick scientist who raced to decipher the human genome and goaded competitors to do the same; as president of Celera Genomics, the firm he helped found in 1998. Conflict over the future of Celera, as it moves from selling gene information to developing drugs, sparked the departure...
...have to have a strong stomach to invest in biotechnology. Last year a few words from Tony Blair and Bill Clinton about making genes "freely available to scientists" took half the value out of the typical biotech stock within a month. Early this year, when Celera Genomics and the Human Genome Project said they would publish a working draft of the human genome (the full complement of human genes), biotech shares rallied briefly...
...Therapeutics of South San Francisco, Calif., for a stock swap worth $2 billion--the largest in biotech history and Millennium's fourth acquisition in as many years. That was just the latest in a series of mergers that have changed the face of the industry. Last month Celera Genomics, once the quintessential genetic information-services company, paid $174 million for Axys Pharmaceuticals of South San Francisco, a master designer of drugs. Another major information-services firm, Incyte Genomics, based in Palo Alto, Calif., laid off 400 employees from one of its gene-analysis services to focus resources on drug development...
Compaq, which got in early by assisting the human-genome mapping projects, has the largest market share at 37%. It is working with Celera Genomics and the U.S. government to build a supercomputer that will perform 100 trillion operations a second--enough to read the entire Library of Congress, some 18 million books, 30 times a second. Says Ty Rabe, a director at Compaq's bioinformatics program: "The life-science industry will be as important to the world economy in the next decades as the computer industry is today...
...Prime Number 45%of Celera Genomics' fruit-fly genome map has errors, reveals a Stanford report, casting doubt on the company's larger venture, the mapping of the human genome...