Life Technologies Corporation (LIFE) recently revealed a couple of new bioinformatics solutions. These offerings will work on the Oncomine platform, which was added to the company’s portfolio with the acquisition of Compendia Bioscience last year.
The launch of these new products namely Oncomine Gene Browser and Ion Reporter Oncomine Workflow will allow researchers to work with one of the largest genomics databases. Both the products are currently being demonstrated at the 2013 annual meeting of the American Association for Cancer Research (AACR 2013) in Washington, D.C.
The Oncomine Gene Browser is a web portal providing detailed gene summary, which is ideal for researchers working with a small number of genes. This solution helps researchers characterize the concerned genes across multiple parameters, from thousands of cancer patients' genetic data (exomes and transcriptomes). Life Technology believes this solution to perfectly compliment the company’s vast portfolio of instrument systems for cancer research, including Ion Torrent semiconductor based sequencing system and AmpliSeq Cancer Panels.
The Ion Reporter Oncomine Workflow effectively combines its Oncomine platform with Ion Reporter Software. Together the Ion Reporter Oncomine workflow and Ion AmpliSeq cancer panels will allow researchers to progress from sample to sequence to driver mutations in much less time.
Over the last two years, Life Technologies has been focusing on creating an optimal portfolio of products through innovation and acquisition. Last fiscal, the company strengthened its diagnostics franchise with four tuck-in acquisitions – BAC BV (Jan 22, 2013), Compendia Bioscience (Oct 8, 2012), Navigenics (Jul 16, 2012) and Pinpoint Genomics (Jul 25, 2012).
Over the past fiscal year, revenue from the Ion Torrent franchise grew more than twice backed by new product launches. In Feb 2013, based on the advancing clinical research across the globe, several new products were launched to work on the Ion Torrent platform. These new products enabled the Ion Torrent semiconductor sequencing technology to expand 1,000-fold in just 2 years and gain a 60% market share among benchtop sequencers.
The company now carries a Zacks Rank #3 (Hold). However, other stocks in the medical device sector, carrying a Zacks Rank #1 (Strong Buy), such as Medical Action Industries Inc. (MDCI) Given Imaging (GIVN) and Cyberonics Inc. (CYBX) appear impressive.
More From Zacks.com