Decode genetics ceo7/8/2023 However, Stefansson also acknowledged that his business is "currently in a tough spot" - one of the biggest understatements in human genetics since Watson and Crick described the structure of DNA as being " of considerable biological interest".Will Stefansson be able to resurrect his company through sheer Viking determination? I hope so, but fear not - and it sounds like we'll know for sure one way or the other within the next six months. Using its unique expertise and population resources, deCODE has discovered genetic risk factors for dozens of common diseases. He has shaped deCODEs scientific approach and been actively engaged in leading its gene. deCODE geneticss CEO is DeCode Ps What does deCODE genetics do Based in Reykjavik, Iceland, deCODE is a global leader in human genetics. Throughout the call deCODE CEO Kari Stefansson remained defiantly optimistic about deCODE's future, describing it as "a company with dramatic potential" and arguing that the signs point to 2009 as being the year for personalised medicine (based on Obama's presidency, and the fact that the markets are still backing DNA-based diagnostics despite the gloomy overall financial picture). Stefansson is recognized as a leading figure in human genetics. The main messages from the call have been ably dissected by articles from Kevin Davies of Bio-IT World and Mark Henderson at The Times (in which I am delighted to be quoted alongside human genetics luminary Peter Donnelly). Today the company had a crucial earnings call - anyone interested in the details of deCODE's plight, or at least a sanitised corporate version thereof, should check out the webcast. It also adds to a run of acquisitions that has already seen Amgen strike deals this year worth a total of $2.2bn in the form of its purchases of Turkish pharma company Mustafa Nevzat, German biotech Micromet and US biopharma Kai Pharmaceuticals.I noted yesterday that the annual earnings report of Icelandic biotech giant deCODE Genetics, one of the major players in modern human genetics, suggested that the company is veering steadily towards financial oblivion. The all-cash deal does not require regulatory approval, and is expected to close before the end of 2012. "We believe Amgen's focus and ability to incorporate our genetic research into their research and development efforts will translate our discoveries into meaningful therapies for patients." Based in Reykjavik, Iceland, deCODE genetics is a global leader in analyzing and understanding. Kari Stefansson, founder and CEO at deCODE Genetics, said: "One of the ways to truly realise the full value of human genetics, is to make our research synergistic with drug development efforts where target discovery, validation and prioritisation efforts can be accelerated. We see deCODE genetics as an exceptional early-access site for the Olink Explore 3072 platform. Most recently deCode's work saw it identify a gene variant that conferred a high risk for common, late-onset form of Alzheimer's disease. Their input allowed deCode to continue its genome sequencing and genotyping research and last year the company struck a research deal with Pfizer to search for variants in the human genome that increase the risk of systemic lupus erythematosis. Struggling to find a successful business model the company filed for bankruptcy in the US in 2009 and was acquired by a consortium of venture capitalists. This fits perfectly with our objective to pursue rapid development of relevant molecules that reach the right disease targets while avoiding investments in programmes based on less well-validated targets."ĭeCode's early promise was that it would be able to establish an Iceland-wide genetic database, giving it access to an unrivaled population dataset, but this plan ultimately ran into difficulties with the country's authorities. "This capability will enhance our efforts to identify and validate human disease targets. Robert Bradway, Amgen's president and CEO, said: "deCODE Genetics has built a world-class capability in the study of the genetics of human disease. Amgen has acquired deCode Genetics, paying $415m for the Reykjavik-based genetic information firm in a deal it says will boost its ability to identify and validate disease targets.ĭeCode was founded in 1996 to capitalise on genomic research and it has since discovered genetic risk factors for dozens of diseases ranging from cardiovascular disease to cancer. was quoted in a corporate press release as saying: 'in an era when we are encouraged to take greater personal control of our.
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