Of late, Affymetrix Inc. AFFX has been scaling newer heights across all its business segments. Over the past few months, the company has won important contracts, inked strategic partnerships as well as launched diverse products, reflecting its solid fundamentals.
This provider of life science and molecular diagnostic products recently penned a strategic partnership with Luminex Corp (LMNX). Meanwhile, eBioscience, a business division of Affymetrix, will commercialize Luminex’s MAGPIX, Luminex 200 and FLEXMAP 3D multiplexed assay platforms in selected countries in the Americas, Asia and Europe.
Affymetrix will also sell Luminex’s products in tandem with its own ProcartaPlex multiplexed immunoassays and QuantiGene Plex multiplexed quantitative gene expression assays. While the recent agreement will expand the installed base of Luminex’s instruments, it will also drive better adoption of Affymetrix’s bead-based assay portfolio.
Adding to the slew of positives, Affymetrix recently launched two products – Axiom HLA Analysis software and Axiom Transplant Genotyping Array.
The Axiom HLA Analysis software can be used for automated, high-resolution human leukocyte antigen (HLA) typing from any genotyping dataset containing coverage of the extended major histocompatibility complex (MHC) region. Meanwhile, Axiom Transplant Genotyping Array has been designed to improve transplantation success and individualize donor/patient selection and treatment.
Last month, Affymetrix announced the selection of its Axiom Genotyping platform by the Green Super Rice (GSR) Project for the development of at least fifteen varieties of rice over the next three years. The assortment will then be distributed to small-hold farmers across sixteen countries in Africa and Asia, including China.
In July this year, Affymetrix inked a deal with Cytox, a developer of assays for risk assessment and prediction of dementia. Under the terms of the deal, the companies collaborated to develop and sell a blood-based genetic assay for research in diagnosis and forecasting of Alzheimer’s disease (AD) and Mild Cognitive Impairment (MCI).
We believe that the series of positive developments will help Affymetrix gain better market share, which in turn, will provide considerable growth opportunities.
Zacks Rank and Key Picks
Currently, Affymetrix carries a Zacks Rank #2 (Buy). Other well-placed stocks in the medical sector are Masimo MASI, Mazor Robotics MZOR and NuVasive NUVA. All the stocks sport a Zacks Rank #1 (Strong Buy).
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