Celera, Specialty Laboratories to develop genetic cirrhosis testing; Celera sets sales, profit targets

By Elaine Rigoli

Tampa, Fla., June 22 - Celera Genomics and Specialty Laboratories have signed an agreement granting Specialty a non-exclusive license to Celera's risk markers for cirrhosis.

The license agreement allows Specialty to select from among Celera's genetic findings to develop and commercialize a genetic test that predicts risk of progression to liver cirrhosis in individuals infected with hepatitis C virus (HCV).

Specialty intends to develop a constellation of single nucleotide polymorphisms (SNPs) based on Celera's findings that predict risk of cirrhosis in patients with chronic HCV that are believed to be more useful than present clinical risk factors in managing the disease, according to a news release.

The use of a combination of SNPs as a prognostic tool suggests information may be applicable to a larger number of HCV-infected individuals, may prove more robust across risk groups tested and may have more compelling use for patient management than current methodologies, the release said.

In other news Thursday, Celera said it anticipates a 35% to 40% end-user sales growth and a net loss of $28 million to $35 million for fiscal-year 2007, and targets profitability by the end of fiscal-year 2008.

Celera expects to consume about $45 million to $55 million in cash and short-term investments from operating activities, growth in instrument placements and cash costs related to the fiscal 2006 restructuring.

Celera said it has established the following financial goals for fiscal 2011: end-user sales of about $400 million to $500 million; reported revenues of approximately $160 million to $200 million; and operating profitability of approximately 15% to 20% of reported revenues.

Celera, an Applera Corp., is based in Rockville, Md.

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