Navigation Links
On Third Anniversary, Compendia Bioscience Announces Continued Revenue Growth, Major Long-Term Customer Contracts and Forecasts Profitability
Date:2/10/2009

ANN ARBOR, Mich., Feb. 10 /PRNewswire/ -- Compendia Bioscience, Inc. today announced the results of a third productive year, including a 100 percent renewal rate from its customers. New customers and increased commitments from existing customers, including multi-year agreements from three of the Top 10 pharmaceutical companies, led to a greater than 300% revenue increase for the second consecutive year. Compendia's core product, Oncomine(TM), has become a standard in oncology research and drug development serving 15 of the Top 20 cancer companies in the world, and a growing number of smaller emerging companies. While revenue growth is expected to be more modest in 2009, the company is forecasting the first year of profitability for its Oncomine business unit.

"We are thrilled to achieve these positive results in such a challenging business environment," said Compendia co-founder and CEO Dan Rhodes. "Our customers are looking at their budgets very carefully and the results are a positive reflection on the value that our products and services bring to cancer drug development."

In addition to the recurring revenue from customers, Compendia received an additional financial boost from the Michigan's 21st Century Jobs Fund. The $1.75 million award from the State of Michigan is matched by private investment and will allow the company to expand its business into new strategic areas.

"We are pleased that this additional financial support will allow us to more fully leverage the Oncomine platform to change the practice of medicine," said Chief Business Officer John Freshley. "We have active projects in drug profiling, molecular diagnostics, and personalized medicine, which have the potential to make a rapid and significant clinical impact."

About Compendia Bioscience, Inc.

Compendia Bioscience is dedicated to harnessing the global collection of high throughput molecular data to provide researchers with the data and analysis tools necessary to validate biomarker and gene target discoveries, better understand mechanisms of disease, and optimize clinical outcomes. www.compendiabio.com

About Oncomine(TM)

Oncomine combines a rapidly growing compendium of 30,000+ expertly curated cancer genomic profiles with a sophisticated analysis engine and a powerful web application for data mining and visualization. Oncomine facilitates target discovery and validation and supports the prioritization of tumor populations for drug development. http://www.compendiabio.com/products/products.htm


'/>"/>
SOURCE Compendia Bioscience, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. CNS Response Announces Fiscal Third Quarter 2007 Results
2. Avitar Reports Third Quarter Financial Results for Fiscal 2007
3. Martek to Announce Third Quarter 2007 Results on September 5, 2007
4. Third Security, LLC Hires Two New Managing Directors
5. Wyeth Sets Webcast and Conference Call for 2007 Third Quarter Earnings
6. ThirdBiotech Networking Group Launches
7. BioMed Realty Trust Declares Third Quarter 2007 Common Stock and Preferred Stock Dividends
8. PPD Announces Third Quarter 2007 Earnings Release, Webcast and Conference Call
9. Boston Scientific to Webcast Conference Call Discussing Third Quarter Financial Results
10. Vasogen Announces Third Quarter Conference Call and Webcast of Bio InvestorForum 2007 Presentation
11. Americas Heartland Launches Third Season Highlighting Contributions of American Farmers and Ranchers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... Chapel Hill, N.C. (PRWEB) , ... June 27, ... ... of U.S. commercial operations for Amgen, will join the faculty of the ... will serve as adjunct professor of strategy and entrepreneurship at UNC Kenan-Flagler, with ...
(Date:6/27/2016)... Ginkgo Bioworks , a leading organism design company ... as one of the World Economic Forum,s Technology ... companies. Ginkgo Bioworks is engineering biology to manufacture ... the nutrition, health and consumer goods sectors. The ... Fortune 500 companies to design microbes for their ...
(Date:6/24/2016)... , June 24, 2016 Epic Sciences ... detects cancers susceptible to PARP inhibitors by targeting ... cells (CTCs). The new test has already been ... in multiple cancer types. Over 230 ... damage response pathways, including PARP, ATM, ATR, DNA-PK ...
(Date:6/24/2016)... ... June 24, 2016 , ... Researchers at the Universita Politecnica ... in people with peritoneal or pleural mesothelioma. Their findings are the subject of a ... , Diagnostic biomarkers are signposts in the blood, lung fluid or tissue of ...
Breaking Biology Technology:
(Date:4/15/2016)... , April 15, 2016 ... "Global Gait Biometrics Market 2016-2020,"  report to their ... ) , ,The global gait biometrics market ... 13.98% during the period 2016-2020. Gait ... which can be used to compute factors that ...
(Date:3/31/2016)... RATON, Florida , March 31, 2016 ... LEGX ) ("LegacyXChange" or the "Company") ... for potential users of its soon to be launched ... video ( https://www.youtube.com/channel/UCyTLBzmZogV1y2D6bDkBX5g ) will also provide ... the use of DNA technology to an industry that ...
(Date:3/23/2016)... Massachusetts , March 23, 2016 /PRNewswire/ ... im Interesse erhöhter Sicherheit Gesichts- und Stimmerkennung ... Xura, Inc. (NASDAQ: MESG ), ... bekannt, dass das Unternehmen mit SpeechPro zusammenarbeitet, ... aus der Finanzdienstleistungsbranche, wird die Möglichkeit angeboten, ...
Breaking Biology News(10 mins):