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Wafergen Biosystems
Medical Devices & Tech
7400 Paseo Padre Parkway
Fremont, CA 94555 USA
phone:510-651-4450
fax:510-793-8993
Symbol WGBS.OB
Exchange OTC
Founded 2003
Employees 48
www.wafergen.com
Research Sector Medical Devices & Tech
Summary Description
Genomics analysis solutions for the pharmaceutical and life sciences industries
Management
Alnoor Shivji, Chairman of the Board; Donald D. Huffman, CFO; David Gelfand - Chief Scientific Officer; Mona Chadha, Chief Operating Officer and Executive Vice President, Marketing & Business Development; Syed Husain, Senior Vice President, Engineering; David Ginzinger, Vice President, Genomics Research and Applications; Robert Coradini, Director; Robert Hariri, Director; Dean Hautamaki, Director
Ownership
Financials Mkt Cap :4
* numbers in thousands
 

Keywords
biotechnology platform, cell biology stem cells, gene expression, genetic analysis, SmartChip

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Updated: May 01, 2012

Description
WaferGen Biosystems Inc. provides genomic analysis solutions for the pharmaceutical and life science industries, thus embracing the new healthcare paradigm brought about by the sequencing of the human genome. WaferGen’s SmartChip System profiles and validates gene expression patterns (biomarkers) to further drug development. The SmartChip System is the first to combine the high-throughput capability and cost efficiencies of microarrays with the sensitivity and accuracy of real-time PCR, enabling researchers to advance from biomarker discovery to verify and validate high-value genomic targets on a single integrated platform. Impacts of the system include heightened efficiency in drug development and the enablement of tailored, personalized medicine. This earlier-stage medical device company has an experienced management team that drives a compelling “razor and blade” business model, and has attracted worldwide marquee customers and collaborators.
Products / Services
WaferGen currently offers the breakthrough SmartChip Real-Time PCR System, the next-generation Real-time PCR system for discovery and validation of biomarkers, or gene expression patterns, on a single platform. The SmartChip System provides a range of high-throughput capabilities including microRNA and mRNA gene expression profiling and Single Nucleotide Polymorphism (SNP) genotyping. WaferGen also offers Quick-Turnaround SmartChip Custom (User-Defined) Panels to enable validation studies of specific genes of interest through customization of high-throughput, real-time PCR SmartChip assay panels?all on a quick-turnaround basis.

The SmartChip platform includes the SmartChip Cycler, a high-density, nanoliter scale system that will process a 5,184 nanowell SmartChip in just over 2 hours. The SmartChip Nanodispenser enables the loading of a single sample across a SmartChip Panel, and the SmartChip Multisample Nanodispenser enables automated SmartChip loading of up to 384 samples on a single SmartChip.

In addition, WaferGen offers an innovative fee-based service for gene-expression profiling using the SmartChip System.
Technology / Differentiation
The breakthrough WaferGen SmartChip System is an innovative real-time PCR (polymerase chain reaction) product to enable scientists to study thousands of genes simultaneously based on gene-specific pathways, potentially leading to discovery of clinically relevant disease signatures to develop the best medicine for the right patients.

To improve today's development process, researchers can benefit by identifying complete genomes of tens of thousands of humans to achieve comprehensive comparison of genetic variations. This requires improvements in the identification of biomarkers, characteristics that are objectively measured and evaluated as indicators. The need for such biomarker technology is spread across the biotechnology and pharmaceutical industries to enable new medicines for virtually all types of disease.

The current dominant microarray technology has limited sensitivity, accuracy and dynamic range capturing only 20-40% of the expressed genes and giving scientists only a partial view of the expression profile.

A second technology, real-time PCR, is a more sensitive and precise method to measure gene expression. However, it lacks the high-throughput capability and cost efficiencies of existing microarrays. WaferGen combined the microarray and real-time PCR technologies on a single platform to enable scientists to measure gene expression more precisely, with more sensitivity and accuracy AND with high-throughput capability and cost efficiencies. The WaferGen SmartChip System is designed to advance genomic research results through the improved identification and validation of biomarkers enabled by its high-throughput capability. In addition, the WaferGen System reduces time and costs associated with genetic analysis.
Market / Customers
By providing a high throughput, inexpensive, sensitive, easy-to-use single platform for genomic exploration and validation, WaferGen is addressing key unmet needs in large and growing markets of disease research and personalized medicine.. Specifically there are two current applications that will drive SmartChip?s adoption and growth. (1) Next Generation Sequencing (NGS) is a growing, widely used technique representing a $1 billion market for qPCR. It generates many leads that require target verification and target validation -- ideal for qPCR application. (2) Genotyping is a second $1 billion market for qPCR. By improving on SNP Genotyping throughput in a flexible and low-cost manner, the SmartChip System offers researchers the ability to adopt a simple workflow for their mid-density SNP screening projects. Biopharmaceutical researchers use genotyping to measure the genetic variation in individuals for disease mapping or functional SNP screening.

Customers and collaborators of the SmartChip System and/or SmartChip Gene Expression Profiling Services include major universities and service providers in the U.S., Europe and Japan: DNA Chip Research Inc. (Japan), Ghent University (Belgium), Kyoto University (Japan), Stanford University, University of California at San Francisco, University of Pittsburgh, University of Southern California (USC), and an undisclosed U.S. biotech company. Research underway at these organizations includes applications for cancer, lung disease, wound healing, and stem cell research.

Competitors / Substitutes / Alternatives
The WaferGen platform ?the ultimate in flexibility -- provides significantly more information faster and at less cost than current solutions from BioTrove, Fluidigm, Life, Roche, Applied Biosystems, Applied Biosystems Telda. The SmartChip ?right-size? well minimizes costs. More configurations enable more flexible experiments. Access to major chemistries speeds up adoption. User or SmartChip content speeds up research. It is the lowest price on the market. The nano-scale, massively parallel SmartChip system provides accurate, high-throughput qPCR. Its distinctive value proposition is the combination of: content and format flexibility; simplified work flow; fast time to results; and significant cost benefits.
Funding
From inception through September 30, 2011, WaferGen raised a total of $3,665,991 from the issuance of notes payable; $66,037 from the sale of Series A preferred stock; $1,559,942 from the sale of Series B preferred stock; $31,226,191, net of offering costs, from the sale of common stock and warrants; $8,842,256, net of offering costs, from the sale of convertible preference shares in the company?s Malaysian subsidiary; $1,842,760, net of origination fees, from a secured term loan; and $28,025,037, net of offering costs, from the sale of the Series A-1 convertible preferred stock, convertible promissory notes and warrants in the May 2011 Private Placement.
Status
Following its technology successes developing and enhancing the SmartChip platform in 2011, WaferGen has recently initiated a new strategy to enhance market adoption. The company plans to engage key opinion leaders to help identify high-value applications and will close deals with key opinion leaders through a collaboration channel. The goal of the channel is to sell science, gain scientific credibility, and co-publish in 2012. Thought leaders can help create greater credibility and brand awareness and influence future customers and investors. WaferGen will focus its sales efforts in North America and Europe with a small sales team and drive its existing customer base to greater utilization.