Bristol-Myers Squibb Invests In SEQ Ltd

Bristol-Myers Squibb has entered into an agreement to provide funding to SEQ Ltd for the continued development of the latter's proprietary gene sequencing technology.

The technology, referred to as single molecule sequencing by fluorescence, is anticipated to provide significant advances in genetic research, particularly the human genome project. The technique relies on the ultrasensitive fluorescence detection of single nucleotides cleaved from an extended DNA molecule by the action of an enzyme called exonuclease. In connection with its investment, Bristol-Myers Squibb will obtain access to SEQs' gene sequencing services on preferential terms, the company says.

- Meantime, B-MS has committed $10.3 million to a five-year research program at the Samuel Lunenfeld Research Institute at Mount Sinai Hospital in Toronto, Canada. The program will focus on the genetic factors responsible for normal human development, as well as their role in diseases such as breast, colon and prostate cancer, heart disease, diabetes and asthma. In addition, the center will serve as a training facility for industry in DNA sequencing technology.