Helicos shares buoyed by partnering talks

With just enough money in the bank to make it into the first quarter of next year, Helicos BioSciences hired investment bank Thomas Weisel partners to help it hunt up some fresh cash. And new financings, joint ventures and partnerships are all on the table.

GenomeWeb News notes that the company, which markets genetic analysis technology, revealed in mid-August that it had $5 million in reserves. In a release, Helicos said that it is "actively engaged in discussions with potential strategic partners regarding various financing alternatives and is actively pursuing financing strategies, including equity or debt financings or other sources of funding, such as collaborations, licensing arrangements, joint ventures or partnerships." Helicos' shares jumped on the news yesterday afternoon,  sending the company's stock up 11 percent.

Helicos has installed six of its genetic analysis systems in research centers like the Broad Institute of MIT and Harvard and the Stanford University Stem Cell Institute.

- check out the Helicos release
- read the story from GenomeWeb

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