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This article was originally published in The Gray Sheet

Executive Summary

Acquisition of privately held DNA array technology firm Genetic MicroSystems for 1 mil. shares of common stock valued at about $101 mil. is outlined in a definitive agreement announced Sept. 13. The Woburn, Massachusetts based firm's product line, which includes the GMS 417 arrayer and GMS 418 array scanner, will complement Affymetrix' high-volume GeneChip platform. The deal is expected to close in Jan. 2000. Separately, the U.S. Patent and Trademark Office Board of Patent Appeals and Interferences rules in favor of Affymetrix in patent interference proceedings with Palo Alto, California-based Incyte Pharmaceuticals. The board's decision, which Incyte intends to appeal, says that Incyte did not provide sufficient evidence that Affymetrix' claims were not supported by written description or enablement

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Genetic MicroSystems will operate as a wholly owned facility of Affymetrix following the completion of an acquisition agreement valued at roughly $101 mil. and announced Sept. 13 (1"The Gray Sheet" Sept. 20, p. 20)

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