Provider of life science and molecular diagnostic products Affymetrix Inc. AFFX recently inked a partnership with advanced tissue technologies company – Reveal Biosciences. The collaboration will allow Reveal Biosciences to use Affymetrix’s ViewRNA ISH products for tissue samples along with its proprietary image analysis software ImageDx.
The recent partnership highlights growing popularity of Affymetrix’s product portfolio among life science companies and researchers.
This October, Affymetrix entered into a distribution agreement with Luminex Corp LMNX. The eBioscience business division 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 drive better adoption of Affymetrix’s bead-based assay portfolio.
In July, 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).
These partnerships are driving significant top-line growth as evident from Affymetrix’s third-quarter 2015 results. Revenues from Genetic Analysis, which includes both the cytogenetics and genotyping product lines, grew nearly 2% from the year-ago quarter to $35.6 million. Clinical (Cytogenetic increased more than 20%) revenues increased 30% on a year-over-year basis in the quarter.
Revenues from the eBioscience business improved about 11% driven by new products, expanding footprint in new markets as well as a growing pharma business.
On a year-to-date basis, sales of the Procarta plex and QuantiGene products improved approximately 30% and 20%, respectively. The company noted growing adoption of the QuantiGene view cell-based RNA Assay by pharma companies for applications such as HBV antiviral screening.
During the quarter, Affymetrix’s Axiom Genotyping platform was selected by the Green Super Rice (GSR) Project for the development of at least 15 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.
Zacks Rank & Key Picks
Currently, Affymetrix carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the same space include Achillion Pharmaceuticals ACHN and Baxalta Inc. BXLT. Both the stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment