Genome Therapeutics Corporation

Genome Therapeutics Corp.

Contents

Collaborative Research Inc.

In 1961 Orrie M. Friedman [1] founded one of the first biotech companies under the name Collaborative Research Inc. (NASDAQ: CRIC) It produced one of the first linkage maps of the whole human genome in the mid 1980s.[2]

GTC

It changed its name to Genome Therapeutics (also call GTC, Genomecorp.com, NASDAQ: GENE) and produced in 1994 the first commercial genome sequence,[2] that of Helicobacter pylori, the pathogen responsible for peptic ulcers. The rights to the genome were sold to Astra AB of Sweden for $22 million and a similar deal struck with Schering-Plough.[2] In addition to infectious agents, it also worked on heritable diseases including asthma [3]

Oscient

In 2004 Genome Therapeutics changed its name to Oscient Pharmaceuticals (NASDAQ: OSCIQ) [4] and its sequencing division joined with Agencourt. The latter spun out Agencourt Personal Genomics which was acquired by ABI for $120 million in 2007.[5]

References

  1. ^ "Dr. Orrie M. Friedman, 94, biotech pioneer". Boston Globe. July 1, 2009. http://www.boston.com/yourtown/waltham/articles/2009/07/01/dr_orrie_m_friedman_94_biotech_pioneer/. 
  2. ^ a b c Capitalizing on the genome. 13. May 1996. pp. 1. http://www.nature.com/ng/wilma/v13n1.867861436.html. 
  3. ^ "Waltham firm lands $67m deal Genome Therapeutics expands asthma venture". HighBeam Research. Dec 24,1996. http://www.highbeam.com/doc/1P2-8393647.html. 
  4. ^ "Genome Therapeutics Changes Name to Oscient Pharmaceuticals Corporation to Reflect Focus on Drug Development and Commercialization". Apr 13, 2004. http://investors.oscient.com/phoenix.zhtml?c=97238&p=irol-newsArticle&ID=514137. 
  5. ^ "For ABI, Developing Agencourt's Sequencing Technology Is a High Priority". GenomeWed Daily News. http://www.genomeweb.com/sequencing/abi-developing-agencourts-sequencing-technology-high-priority.