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Posted: November 19, 2008
Febit and In-Q-Tel Announce Strategic Investment and Technology Development Agreement
(Nanowerk News) febit group, specialists in the field of advanced and flexible genomic analysis, today announced a strategic investment and technology development agreement with In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the mission of the broader U.S. Intelligence Community.
This strategic collaboration will further the development of febit’s Geniom® Technology to detect pathogens more quickly and with increased reliability. The technology development agreement with In-Q-Tel is anticipated to improve the sensitive, flexible, and fully automated Geniom platform for the multiplexed detection and classification of known and unknown pathogens for the special needs of bio security. The strategic investment is the result of an extensive evaluation process and thorough testing of febit’s technology.
“febit’s technology has the potential to become an important tool within the bio security sector,” said Ben Levitan, Partner at In-Q-Tel. “We are excited about the capabilities of the existing platform and believe that our strategic collaboration with febit will lead to a well-engineered and practical high-end analysis device for multiple applications.”
“This strategic investment in febit is In-Q-Tel’s first engagement with a German company and validates febit’s cutting-edge technology capabilities,” said Professor Christof Hettich, member of febit’s supervisory board and representative of its German lead investor Dievini GmbH & Co KG, the counsellors of the investment companies of Dietmar Hopp and family – the co-founder and longstanding CEO of SAP.
“febit develops simple solutions for complex genomic tasks with an unsurpassed degree of automation. We are thrilled about the anticipated opportunities resulting from our agreement with In-Q-Tel,” said Cord F. Staehler, CEO at febit. “febit’s partnership with In-Q-Tel enables us to focus on the field of pathogen detection, and further enhance an application-oriented device with well-defined requirements, similar to what we have developed in the field of microRNA analysis with the Geniom RT Analyzer.”
“We are very excited about our collaboration with In-Q-Tel. The scope of this agreement will address the current needs of the bio security industry, as well as provide value to the other aspects of our business,” said Anthony P. Caruso, Vice President of Informatics at febit and Head of febit’s bio security activities. “Our overall objective is to further increase the sensitivity of the Geniom instruments, and to enhance our ability to quickly identify the presence of thousands of unique organisms in a single assay, all with the Geniom’s inherent ability to adapt to newly discovered samples in a matter of hours.”
febit enables scientists to read, write and understand the code of life: DNA. The seamless integration of DNA synthesis and analysis of the Geniom Technology and the superior support in experiment design and bioinformatics helps to understand data and turn it into results. febit’s team of experienced scientists is dedicated to supporting customers to solve the challenge of understanding biological processes. Geniom is a technological and service platform successfully implemented in basic and applied research by renowned institutions and companies. Geniom exploits cutting-edge microarray technology for analysis and synthesis of genes and genomes, providing superior time- and cost-efficiency combined with an unsurpassed spectrum of applications. www.febit.com.
In-Q-Tel is the strategic, not-for-profit investment firm that works to identify, adapt, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent organization, In-Q-Tel’s mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community’s critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community. In-Q-Tel concentrates on several broad commercial technology areas, including application software and analytics; bio, chemical, and nanotechnology communications and infrastructure; digital identity and security; and embedded systems and power. To date, In-Q-Tel has engaged with more than 125 companies and delivered more than 140 technology solutions to the Intelligence Community. www.iqt.org.