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By A Sun Staff Writer | April 19, 1995
Oncor Inc., which two years ago launched a subsidiary to commercialize gene identification breakthroughs by Johns Hopkins University researchers, has formed a second subsidiary commercialize gene therapy research from Yale and Princeton universities.Stephen Turner, Oncor's chairman and chief executive officer, said yesterday that his company had formed OncorPharm Inc., which will search for ways to treat genetic diseases such as sickle cell anemia.OncorPharm, which has 10 employees in offices a few blocks away from Oncor's Gaithersburg headquarters, has been in development for about a year, Mr. Turner said.
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BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | May 20, 2003
Cushman & Wakefield, one of the nation's largest real estate services companies with 158 offices around the globe, has hooked up with the local MacKenzie Commercial Real Estate Services LLC to expand its reach to Baltimore. The move is part of Cushman & Wakefield's move into more than a dozen markets by forming alliances with existing independent firms. The company embarked on the strategy after determining that opening its own offices was too expensive and entering markets already crowded with other real estate companies would be too difficult.
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BUSINESS
December 30, 1995
Oncor Inc., the Gaithersburg-based biotechnology company, got a year-end boost yesterday -- $10 million from institutional investors.The closing of that deal gives the company $16 million to work with as it struggles to get its first product approved in the U.S.The investment comes as good news to the company on the heels earlier this month of a Food and Drug Administration panel's rejection of its request to market in the U.S. a gene-based test for the...
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | February 27, 1999
Oncor Inc., the once promising Gaithersburg biotechnology company, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Wilmington, Del., yesterday.In its filing, the company listed $6.5 million in debts and $7.41 million in assets. Among the largest creditors: Johns Hopkins University, which is owed more than $473,000. Oncor had research agreements with Hopkins."The company intends to reorganize its financial affairs," Oncor's acting chief executive officer, Joseph Shaya, said in a statement issued by the company.
BUSINESS
August 18, 1998
Cash-strapped Oncor Inc. said yesterday that it will sell Codon Pharmaceuticals Inc., a subsidiary that develops technology for recognizing and repairing genes.The Gaithersburg biotechnology company, which hasn't had a profitable year since its inception 15 years ago, announced in March that it would focus solely on gene-based cancer tests.The sale to Codon Acquisition Holdings LLC, a company created by Perseus Capital LLC, is expected to close in September. Terms were not disclosed.Also yesterday, Oncor reported a net loss of $2.5 million, or 8 cents per share, for the second quarter, which ended June 30, compared with a loss of $6.9 million, or 27 cents a share, in the second quarter last year.
BUSINESS
January 1, 1997
Gaithersburg-based Oncor Inc., which develops and makes gene-based tests for detecting cancer, announced yesterday that it has expanded its board of directors to eight members by naming two new directors.The new directors are Jose Coronas, 54, and Dr. Derace Schaffer, 49.Coronas is the former president of Johnson & Johnson Clinical Diagnostics Inc. He has also worked for the Clinical Diagnostics Division of the Eastman Kodak Co.Schaffer is a clinical professor of radiology at the University of Rochester School of Medicine, and president of Ide Group P.C., a group medical practice in New York.
BUSINESS
April 14, 1998
Oncor Inc., the Gaithersburg genetic test developer, said yesterday that it will pay $2 million as part of a settlement in a patent-infringement lawsuit filed against it by competitor Vysis Inc. and the University of California.Oncor said the agreement includes Oncor transferring to Vysis a segment of its genetic probe business, which generated about $3 million in 1997 revenue. Oncor will also make an initial cash payment to Vysis of $500,000 and a payment of $1.5 million on April 9, 2000.
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | September 29, 1994
OncorMed Inc., a spin-off company from Gaithersburg-based Oncor Inc., yesterday raised $8 million in an initial public stock offering to finance the company's effort to develop techniques for early detection and treatment of cancer using genetic discoveries.The new company sold 1.3 million shares at $6 a share. The net proceeds to the company will be $6.5 million, after payments associated with the offering.The underwriter is Gaines Berland Inc., a New York investment banking company.Oncor, which owns 42.1 percent of OncorMed, decided to spin off the subsidiary because it primarily provides services rather than produce genetic testing medical kits, as its parent company does, said Stephen Turner, chairman and and chief executive of Oncor.
BUSINESS
October 2, 1998
Financially struggling Oncor Inc. said yesterday that a group of shareholders had assumed a $4 million secured note on which the company was at risk of defaulting as a result of the collapse of a deal to sell a research unit.The Gaithersburg-based company also said that R. James Danehy has informed Oncor that he will not become chief executive officer before the end of the year, as had been previously announced.Danehy, formerly chief of Chiron Inc.'s diagnostics unit, will stay on as vice chairman of the board.
BUSINESS
By a Sun Staff Writer | October 12, 1994
Oncor Inc., the Gaithersburg-based producer of genetics-based medical testing kits, has acquired worldwide licensing rights to the Johns Hopkins University's newly developed methods of detecting cancer through tests on bodily fluids, the company said yesterday.The license is Oncor's first exercise of a "right of first licensing" that it holds for medical discoveries produced under a three-year "sponsored research" contract the firm signed with Hopkins about 1 1/2 years ago, Stephen Turner, the firm's chief executive officer, said yesterday.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | November 25, 1998
Oncor Inc., the financially troubled Gaithersburg biotechnology company, said yesterday that it had surrendered its chief technology asset -- a genetic test for the recurrence of cancer -- to a creditor which had called due a $4.1 million loan.In turn, the unidentified creditor sold rights to Oncor's HER2/neu cancer test to Ventana Medical Systems Inc. of Tucson, Ariz., for $5.5 million.Ventana, a manufacturer of automated instrumentation for testing cell and tissue samples, said it plans to develop an automated system to conduct the test and make it more marketable.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | November 18, 1998
Oncor Inc., the financially troubled Gaithersburg biotechnology company, posted a loss of $5.5 million for its third quarter and warned that, due to "extreme financial difficulties," it may be forced to cease operations.Despite the dismal financial picture, the publicly held company said yesterday in its quarterly filing with the Securities and Exchange Commission that it has no plans to file for bankruptcy protection, but cannot guarantee that creditors will not force it into involuntary bankruptcy.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | October 3, 1998
The American Stock Exchange halted trading in shares of Oncor Inc. indefinitely yesterday. The Gaithersburg company said it opposed the move and is "considering remedies and alternatives" to the trading halt.Company executives also said Oncor plans to appeal the Amex's decision to seek approval from the Securities andExchange Commission to delist Oncor as a result of the company not meeting certain listing requirements.Shares in the financially troubled company are down dramatically since last year, when they hit a 52-week high of $5.25 Oct. 2. Shares were trading at 12.5 cents yesterday when the trading halt was issued.
BUSINESS
October 2, 1998
Financially struggling Oncor Inc. said yesterday that a group of shareholders had assumed a $4 million secured note on which the company was at risk of defaulting as a result of the collapse of a deal to sell a research unit.The Gaithersburg-based company also said that R. James Danehy has informed Oncor that he will not become chief executive officer before the end of the year, as had been previously announced.Danehy, formerly chief of Chiron Inc.'s diagnostics unit, will stay on as vice chairman of the board.
BUSINESS
August 18, 1998
Cash-strapped Oncor Inc. said yesterday that it will sell Codon Pharmaceuticals Inc., a subsidiary that develops technology for recognizing and repairing genes.The Gaithersburg biotechnology company, which hasn't had a profitable year since its inception 15 years ago, announced in March that it would focus solely on gene-based cancer tests.The sale to Codon Acquisition Holdings LLC, a company created by Perseus Capital LLC, is expected to close in September. Terms were not disclosed.Also yesterday, Oncor reported a net loss of $2.5 million, or 8 cents per share, for the second quarter, which ended June 30, compared with a loss of $6.9 million, or 27 cents a share, in the second quarter last year.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | June 24, 1998
Financially struggling Oncor Inc. said yesterday that it has struck an agreement to sell its research products division, one of FTC its strongest revenue-producing units, for $3.2 million to Intergen Co.The Gaithersburg biotechnology company said the division's 13 employees will be offered jobs at Intergen, a Purchase, N.Y.-based company that is setting up an operation in Gaithersburg.John Coker, Oncor's chief financial officer, said proceeds from the sale, along with financial support from several directors and an unidentified major shareholder, are expected to provide the company with $4 million by the end of the month.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | February 27, 1999
Oncor Inc., the once promising Gaithersburg biotechnology company, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Wilmington, Del., yesterday.In its filing, the company listed $6.5 million in debts and $7.41 million in assets. Among the largest creditors: Johns Hopkins University, which is owed more than $473,000. Oncor had research agreements with Hopkins."The company intends to reorganize its financial affairs," Oncor's acting chief executive officer, Joseph Shaya, said in a statement issued by the company.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | September 4, 1997
Oncor Inc.'s president said yesterday that the company is confident it can successfully defend itself against TC patent-infringement lawsuit filed by a competitor, even though a federal judge in San Francisco found two weeks ago that at least one of Oncor's product lines may violate the patent."
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | May 23, 1998
Oncor Inc., the financially struggling Gaithersburg biotechnology company, said yesterday that it plans to lay off approximately 50 employees, or 40 percent of its U.S. work force, and the company's chief financial officer said he's "very confident" that Oncor can be profitable next year.John Coker, the CFO, said Oncor filed an amended annual report with the Securities and Exchange Commission yesterday outlining seven reasons why the company believes that it can continue operations without running out of money and eventually turn a profit.
BUSINESS
April 14, 1998
Oncor Inc., the Gaithersburg genetic test developer, said yesterday that it will pay $2 million as part of a settlement in a patent-infringement lawsuit filed against it by competitor Vysis Inc. and the University of California.Oncor said the agreement includes Oncor transferring to Vysis a segment of its genetic probe business, which generated about $3 million in 1997 revenue. Oncor will also make an initial cash payment to Vysis of $500,000 and a payment of $1.5 million on April 9, 2000.
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