Tecan sharpens focus on proteomics
The medical technology company, Tecan, is to increase its concentration on the proteomics field by launching a separate division and acquiring a specialist firm, it said on Tuesday.
Proteomics is the study of how information contained in genes is translated into proteins and how they then interact to foster health or trigger disease.
“Proteomics could be the single biggest opportunity for our company in the coming years,” said CEO Emile Sutcliffe. “The total available market for Tecan in proteomics is estimated at SFr725 million ($450 million) in 2000 and is expected to double within the next few years.”
The new division, Tecan Proteomics, will be based in Munich and will receive more than 20 per cent of Tecan’s research and development budget this year.
The unit has also acquired a majority stake in Dr Weber, a German firm that specialises in proteomic technologies.
Tecan shares rose nearly 150 per cent last year and closed at SFr1,670 on Monday.
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