Helicos is no longer considering sale
CAMBRIDGE - Helicos BioSciences Corp. has taken itself off the auction block, the genetic analysis instrument company said Monday.
In September, the company said it hired Thomas Weisel Partners to evaluate strategic alternatives. Those options ranged from an outright sale to options such as joint ventures or partnerships with other gene sequencing companies.
"Based on the company's improving standalone prospects and its current market valuation, the board of directors has decided to disengage from discussions involving a potential sale of the company at the current time," Helicos said in a statement.
The company said it continues working with Thomas Weisel as a financial advisor.
"We are seeing a growing number of novel discoveries resulting from the Helicos Genetic Analysis System's unique capabilities and have seen an increased interest in clinical applications for which the Helicos system is uniquely suited," chief executive Ron Lowy said in a statement.
Also in September, the company signed a collaboration deal with Correlagen Diagnostics Inc., which provides genetic tests for disease diagnosis. Financial details of the deal were not disclosed, though Correlagen bought a Helicos system.
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