Genomatix met cash-flow break-even in 2003

23-Mar-2004

Privately held Genomatix in Munich, Germany announced that it has met operational break-even in the year 2003. Genomatix is an in silico biology company with a unique edge in gene regulation. The company has developed a unique and strong technology platform of databases and software tools aimed at understanding gene and protein regulation at the molecular level. The idea was to drill down so deeply into genomics analysis that researchers and pharmaceutical industry could move well beyond observing transcriptional events to gain the insight to truly understand how the molecular mechanisms work. The technology has been systematically extended during the last five resulting in worldwide close to 15.000 researchers using it via the internet.

" We are very proud in having achieved this significant milestone in our corporate development, especially looking at last year's adverse business environment for platform technology providers", says Klaus J.W. May, Director Sales & Marketing.

"Based on our existing developments we will extend our lead by developing an ENCYCLOPEDIA OF GENE REGULATION, providing salient information for signaling and transcriptional pathways and networks not covered by conventional pathway databases", he continues.

"The cash-flow break-even very favorably positions Genomatix for a potential second round of financing. Additional capital allows for speeding up developments and broaden our reach. F.i. our unique capabilities in efficient experimental design for large-scale experimental verification of regulatory network components, or our proprietary technology for transcript-specific probe design. All this may well help to break the current grid-lock on microarray data interpretations. It will be based on an innovative chip design which, by no means, will be restricted to today's Genomatix proprietary applications", he closes.

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