Transgenomic Adds Asia Distributor For ICEme

Transgenomic Adds Asia Distributor For ICEme

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, August 27, 2015

This week saw a sharp pullback in the biotechnology sector, leading many to question whether the biotech bubble has burst. The biotechnology sector has seen a multi-year rally so questions over a potential bubble are not surprising. Indeed, many compare the present state of the biotech sector to the peak of the tech bubble at the start of the millennium. However, there is a huge difference between the state of the biotech sector now and the tech sector at the peak of the bubble.


The big difference is that unlike many tech companies during the bubble years, most biotechnology companies have actual products under development that have the potential to generate substantial revenue in the future. The high valuation is justified to an extent given the innovation that has been going on in the sector. Several incurable diseases now have a cure. One example is in the hepatitis C space where innovation has meant that the disease can be cured in under three months.

Of course, the question then is what about this week’s pullback. The pullback in biotechs was not related to any problem with the sector but rather due to turmoil in global equity markets due to developments in China.

Indeed, the sector has rebounded sharply in the last two days, with several stocks posting strong gains. One stock that has risen sharply today is Transgenomic Inc. (NASDAQ:TBIO), an Omaha, Nebraska-based biotechnology company advancing personalized medicine for the detection and treatment of cancer and inherited diseases.

This morning, TBIO announced that it added distributors in China and Japan for its ICEme(TM) Mutation Enrichment Kits for genomics research. The kits use TBIO’s Multiplexed ICE COLD-PCR(TM) (MX-ICP) technology and are designed to facilitate genomics-based cancer research. The distributors include Spectron Scientific Co. Ltd. in China and Sowa Trading Co. Inc. in Japan. Both are established suppliers of life science products to researchers at universities, pharmaceutical and biotech companies, and research institutes in their respective markets, TBIO said in the press release.

Paul Kinnon, President & CEO of Transgenomic, said that Asia represents important and growing markets for cancer research, and TBIO’s ICEme Kits will allow researchers in China and Japan to use the sequencing platforms already in their labs to conduct sophisticated genetic analyses to accelerate their cancer research and drug discovery programs. Kinnon added that the company expects to announce additional distributors in other key territories soon.

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