BioTrove Files for IPO
Last year, BioTrove signed marketing agreements with Applied Biosystems for the OpenArray (see IBO 11/30/07) and with Agilent for the RapidFire (see IBO 10/31/07). The company cites 38 customers for its OpenArray products, which were introduced in 2005, and 20 biopharmaceutical customers for its RapidFire system, which was introduced as a service in 2004 and as a product in 2006.
Bede Finds a Buyer
Woburn, MA 4/1/08—BioTrove, a supplier of microfluidic-based laboratory instruments for genomic analysis, has filed with the SEC for an IPO of its common stock on the NASDAQ exchange. Pricing and timing details are yet to be determined. The company sells the Open Array system for multiplex PCR analysis in research and diagnostic applications, and the RapidFire, an automated sample preparation system for mass spectrometry. According to the filing, in 2007, the company’s revenues grew 79.4% to $4.8 million, and operating loss increased from $9.3 billion to $12.2 billion. As of December 31, 2007, the company’s accumulated deficit is $55.9 million.
