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Home Industry News Genetix increases revenue by 48%

Genetix increases revenue by 48%

17th March 2008

Genetix recorded a "solid year of progress" during 2007, it has emerged.

The cancer diagnostic and biopharmaceutical technologies group has revealed that its revenue increased by 48 per cent to £22.9 million in the 12 months leading up to December 2007 – despite an impact of £0.9 million due to the weak dollar.

In particular, its cell biology products market showed significant revenue growth – increasing by 44 per cent to £6.5 million.

Throughout 2007 the company’s integration of Applied Imaging was successfully completed – boosting its product portfolio.

Mark Reid, chief executive, said: "During 2007 we have grown our portfolio of imaging and analysis products through the integration of Applied Imaging, developed our geographic infrastructure and continued to invest in our product pipeline.

"As we enter 2008 … we remain committed to optimising our competitive strengths in cell identification and selection."

In other news, Genetix was recently granted a patent covering the integration of imaging capabilities into Genetix robotic platforms, most notably the ClonePix FL.

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