Shares in Celera Genomics and other genomics firms have been rising steadily in anticipation of the announcement of the first complete draft of the entire human genome sequence. Shares in Celera, which closed at $125 last Friday, had plummeted to $70 in March. The drop came after a joint statement issued by US President Bill Clinton and UK Prime Minister Tony Blair, calling for genetic information to be made freely available.
Meanwhile, Applied Genomic Technology Capital Fund LP has become the first venture firm to focus exclusively on forming companies that sell genome-related products and services to the pharmaceutical and biotech industries. 'Our goal is to take the discoveries from genomics and the tools from information technology and find commercial applications' said founder Noubar B Afeyan. The fund aims to raise $200 million to create as many as 30 companies over the next three years.
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Shares rebound at scent of draft sequence
Venture firm launches fund to focus on genomics