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Spectral Genomics offers molecular diagnostics

Spectral Genomics

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Published at 12:28 am March 16th, 2021
The development comes after the Department of Posts applied to the Bangladesh Bank for an extension to Nagad’s temporary approval, which expired on March 15
Nagad, the digital financial services arm of the Bangladesh Post Office, has gotten three more months to fulfil the conditions of the central bank to become a full-fledged mobile financial services provider. The development comes after the Department of Posts applied to the Bangladesh Bank for an extension to Nagad’s temporary approval, which expired on March 15, said a top official of the central bank requesting anonymity as he is not authorised to speak with the media. Subsequently, the payment systems department of the central bank on Monday informed the Department of Posts that the validity of the interim licence for Nagad, a joint venture between the Bangladesh Post Office and Third Wave Technologies, has been extended to June 30. This is the second extension of the interim licence for Nagad. The operator applied for a full-fledged licence in April last year after a BB move left it hamstrung. On March 5 last year, the central bank had asked banks to suspend the trust-cum-settlement accounts of companies that were providing MFS and digital wallet services without its approval. Nagad was the only MFS provider running without the BB’s approval then. Several banks froze Nagad’s accounts, making it difficult for the company to run its operations. This compelled the company, which until then was operating under the Post Office Act 1898 and not as per the central bank’s MFS regulations, to seek out a full-fledged licence from the BB. The postal act empowers the postal department to independently provide financial services. As part of the licencing process, the BB first gives a temporary approval for six months. During the period, the operator has to fulfil the central bank’s laundry list of requirements before it becomes eligible for the full licence. As part of the interim licencing terms, Nagad had to bring down the additional transaction limit it enjoyed that allowed it to gain a huge customer base soon after rolling out services. A Nagad user could transact a total of Tk 2.5 lakh per day whereas it was Tk 30,000 for the other MFS providers. Each transaction, of which 10 were allowed, could be up to Tk 50,000. But for the other MFS providers, the cash-in limit was Tk 15,000 and cash-out Tk 10,000 a day. The monthly transaction limit for Nagad customers was Tk 5 lakh, whereas for the others operating under the BB’s regulations it ranged from Tk 25,000 to Tk 1 lakh. The temporary licence granted to Nagad had expired in September and another was given then for another six months. “Nagad will not be given another extension,” said the BB official, adding that the operator must fulfil all the conditions for the full-fledged licence in that time. Rahel Ahmed, chief executive officer of Nagad, acknowledged receiving the extension to the temporary approval. The Department of Posts applied to the central bank for extending the validity of the interim licence as some inter-ministerial work is yet to be done. “There is a massive integration process and we are very close to completing it,” he told Dhaka Tribune. The MFS operator will have to file an application with the BB upon fulfilment of the regulatory requirement within the validity of the interim licence. One of the conditions for getting the final nod from the BB is forming a separate entity clearly outlining the stakes of each party. “We are working on forming a separate company by ensuring the stake of the Bangladesh Post Office,” Md. Siraz Uddin, director-general of the Directorate of Posts, told Dhaka Tribune. The company will be formed by May. “Last week, we appointed our official to Third Wave Technologies to observe the transactions of Nagad. Everything will be solved after the formation of a separate company and then Nagad will get the final approval of the central bank,” he added. Formally inaugurated on March 26, 2019, in just two years the operator has gone on to become the second-largest player in the market, muscling out Dutch-Bangla Bank’s Rocket. Nagad has managed to win hearts by offering lower transaction charges and an easy customer onboarding process. As much as 95 per cent of the accounts opened were by dialling *167# from the mobile phone and setting a personal identification number, according to Nagad. The MFS provider then pulls the information of the customer from the mobile operators’ database by way of an agreement it had signed. Since the mobile operators have the information of a national identification (NID) number of a subscriber, whenever a prospective user dials *167# to express his or her interest to open the MFS account, their information is instantly verified against the NID database and the process to open the account is completed. On March 7, a record 2.87 lakh people opened accounts with Nagad, meaning three people joined its network every second that day, according to a press release from Nagad. On the previous day, about 2.5 lakh came on board. Nagad’s surge comes at a time when the pace of new account openings on the platform has dropped off since September last year, according to data from the Bangladesh Bank. Besides, the number of active accounts, which are accounts that had made transactions over the previous 90 days, is on the wane, too. At the end of January, there were 3.2 crore MFS accounts, down 2.6 per cent year-on-year, making it the third straight month of decline. However, transactions through the platform stood at Tk 57,253.1 crore, which is the second-highest in its decade-old journey, on the back of higher person-to-person and cash-in transactions. Nagad’s final approval would take the tally of MFS licences to 16. Leave a Comment

Nagad gets three more months to win...

Just as bar codes have helped speed up supermarket trips, a new technology developed with funding from the National Institute of Standards and Technology's Advanced Technology Program is helping scientists speed up identification of genetic variations. Developed by Third Wave Technologies Inc. (Madison, WI), the novel genetic screening technique provides a fast, inexpensive way to turn DNA samples into individualized bar code patterns that can be scanned quickly for specific mutations. The technique costs up to 80% less per sample than other methods, including automated DNA sequencing. DNA sequencing laboriously identifies the precise order in which four chemical bases appear in a gene fragment. In contrast, Third Wave's CFLP (cleavage fragment length polymorphism) method uses patented processing methods and enzymes to create and identify tell-tale folds in single-stranded DNA that indicate specific chemical sequences. If DNA sequencing is equivalent to reading every word of an organism's assembly instructions, then CFLP is a speed reading method that concentrates on critical junctures to infer the rest of the book. CFLP generates a distinct bar code for every unique DNA sequence. Thus, mutations can be detected by comparing a sample to a normal coding pattern. The method should have a broad range of applications for research, diagnosing and treating infections and hereditary diseases, and accelerating drug development. CFLP identifies mutations and other variations that affect physical structure of DNA, making it an alternative to conventional methods based on chemical sequence. When analyzed by CFLP, each DNA fragment produces a unique "fingerprint" that looks like a bar code. The ATP funding enabled Third Wave to expand on its early discoveries of bacterial enzymes involved in the identification process, design practical, reliable method, develop reagents, and conduct extensive testing. "What we have is linear signal amplifacion for DNA and RNA," stated Third Wave marketing director Sheldon Clark, "that circumvents the need for PCR. Our technique goes straight to the genetic material, interrogating and detecting it." According to Clark, target markets include diagnostics, basic research, drug discovery, determination of drug resistance, and post-therapeutic patient monitoring applications. "The same technology used to detect cytomegalovirus, for example, can also measure drug resistance or viral load. And it's quantitative as well as qualitative." "Traditional molecular assays depended on PCR, where you take a sample, extract DNA, use primers to amplify a portion of it, cleave with restriction enzymes at specific locations, then run the gel. Our method uses hybridization and cleavage: DNA cleaves only if the known or desired hybridizations have occurred. Cleavage, in turn, sets off a cascade of secondary reactions based on FRETfluorescence energy transferthe result of which is we can detect as few as 60 molecules. The method is very sensitive but very forgivingit's all based on structure, not sequence, so we don't get false positives." The first product kit based on ATP-funded research was commercialized by Third Wave for the research market in mid-1996 and brought about $300,000 in sales that year. A variety of clinical applications have been validated by scientific studies, including one by Italian scientists who concluded that CFLP scans longer DNA fragments and detects mutations faster than conventional methods. When used to identify different strains of the hepatitis C virus (a factor in resistance to interferon therapy), CFLP costs much less than two standard competing methods (including automated DNA sequencing), according to tests performed by an independent contract research firm. CFLP technology is based on the observation that when single strands of DNA fold on themselves, they assume higher order structures that are highly individual to the precise sequence of the DNA molecule. These secondary structures involve partially duplexed regions of DNA such that single stranded regions are juxtaposed with double stranded DNA hairpins. The Cleavase I enzyme, at the heart of CFLP, is a structure-specific, thermostable nuclease that recognizes and cleaves the junctions between these single-stranded and double-stranded regions. DNA strands treated with Cleavase I yield collections of fragments that, when resolved, create unique "barcodes" that highlight the conformational characteristics of the DNA. Because these conformations can be altered by as little as a change in a single nucleotide, this approach can be used to generate a distinct barcode for each different DNA sequence examined. UPC barcode (left). The gel lanes represent a PCR analysis (1), wild-type version of a gene (2), and a CFLP-generated genetic barcode of a single variant in the same genetic region as the wild type analysis (3). The CFLP method comprises the CFLP reaction, followed by the separation and visualization of the resultant barcode, which may be completed in as little as 30 minutes. The reactions themselves include: separation of DNA strands by heating; formation of intrastrand secondary structures on cooling; rapid enzymatic cleavage of these structures by the Cleavase I enzyme
Because these secondary structures are detected by enzymatic cleavage, rather than by electrophoretic mobility (as is the case with single stranded conformational polymorphism, or SSCP), CFLP analysis can be used to identify sequence polymorphisms in large DNA fragments (i.e. >1 kilobase). Unlike other mutation detection techniques, many of which simply provide a "yes or no" answer regarding the presence of sequence polymorphisms, CFLP method provides a means of uniquely identifying each variant. The CFLP technology therefore affords an amount of information comparable to that obtained by DNA sequencing for a fraction of the cost and effort. Third Wave has formed alliances with five major distributors in four product markets. In addition, the company recently received a second ATP award to develop generic, enzyme-based technologies suitable for healthcare applications, such as large-scale treatment monitoring and point-of-care testing. For more information: Sheldon Clark, Director of Marketing, Third Wave Technologies, 502 South Rosa Rd., Madison, WI 53719. Tel: 608-273-8933. Fax: 608-273-6989. Email: sclark@twt.com. By Angelo DePalma

Genetic Bar Coding Speeds DNA Testing

(Back to Top)
Just as bar codes have helped speed up supermarket trips, a new technology developed with funding from the National Institute of Standards and Technology's Advanced Technology Program is helping scientists speed up identification of genetic variations. Developed by Third Wave Technologies Inc. (Madison, WI), the novel genetic screening technique provides a fast, inexpensive way to turn DNA samples into individualized bar code patterns that can be scanned quickly for specific mutations. The technique costs up to 80% less per sample than other methods, including automated DNA sequencing. DNA sequencing laboriously identifies the precise order in which four chemical bases appear in a gene fragment. In contrast, Third Wave's CFLP (cleavage fragment length polymorphism) method uses patented processing methods and enzymes to create and identify tell-tale folds in single-stranded DNA that indicate specific chemical sequences. If DNA sequencing is equivalent to reading every word of an organism's assembly instructions, then CFLP is a speed reading method that concentrates on critical junctures to infer the rest of the book. (Back to Top)
CFLP generates a distinct bar code for every unique DNA sequence. Thus, mutations can be detected by comparing a sample to a normal coding pattern. The method should have a broad range of applications for research, diagnosing and treating infections and hereditary diseases, and accelerating drug development. CFLP identifies mutations and other variations that affect physical structure of DNA, making it an alternative to conventional methods based on chemical sequence. When analyzed by CFLP, each DNA fragment produces a unique "fingerprint" that looks like a bar code. The ATP funding enabled Third Wave to expand on its early discoveries of bacterial enzymes involved in the identification process, design practical, reliable method, develop reagents, and conduct extensive testing. "What we have is linear signal amplifacion for DNA and RNA," stated Third Wave marketing director Sheldon Clark, "that circumvents the need for PCR. Our technique goes straight to the genetic material, interrogating and detecting it. " According to Clark, target markets include diagnostics, basic research, drug discovery, determination of drug resistance, and post-therapeutic patient monitoring applications. "The same technology used to detect cytomegalovirus, for example, can also measure drug resistance or viral load. And it's quantitative as well as qualitative. "
"Traditional molecular assays depended on PCR, where you take a sample, extract DNA, use primers to amplify a portion of it, cleave with restriction enzymes at specific locations, then run the gel. Our method uses hybridization and cleavage: DNA cleaves only if the known or desired hybridizations have occurred. Cleavage, in turn, sets off a cascade of secondary reactions based on FRETfluorescence energy transferthe result of which is we can detect as few as 60 molecules. The method is very sensitive but very forgivingit's all based on structure, not sequence, so we don't get false positives. "
The first product kit based on ATP-funded research was commercialized by Third Wave for the research market in mid-1996 and brought about $300,000 in sales that year. A variety of clinical applications have been validated by scientific studies, including one by Italian scientists who concluded that CFLP scans longer DNA fragments and detects mutations faster than conventional methods. When used to identify different strains of the hepatitis C virus (a factor in resistance to interferon therapy), CFLP costs much less than two standard competing methods (including automated DNA sequencing), according to tests performed by an independent contract research firm. (Back to Top)
CFLP technology is based on the observation that when single strands of DNA fold on themselves, they assume higher order structures that are highly individual to the precise sequence of the DNA molecule. These secondary structures involve partially duplexed regions of DNA such that single stranded regions are juxtaposed with double stranded DNA hairpins. The Cleavase I enzyme, at the heart of CFLP, is a structure-specific, thermostable nuclease that recognizes and cleaves the junctions between these single-stranded and double-stranded regions. DNA strands treated with Cleavase I yield collections of fragments that, when resolved, create unique "barcodes" that highlight the conformational characteristics of the DNA. Because these conformations can be altered by as little as a change in a single nucleotide, this approach can be used to generate a distinct barcode for each different DNA sequence examined. UPC barcode (left). The gel lanes represent a PCR analysis (1), wild-type version of a gene (2), and a CFLP-generated genetic barcode of a single variant in the same genetic region as the wild type analysis (3). The CFLP method comprises the CFLP reaction, followed by the separation and visualization of the resultant barcode, which may be completed in as little as 30 minutes. The reactions themselves include: separation of DNA strands by heating; formation of intrastrand secondary structures on cooling; rapid enzymatic cleavage of these structures by the Cleavase I enzyme
Because these secondary structures are detected by enzymatic cleavage, rather than by electrophoretic mobility (as is the case with single stranded conformational polymorphism, or SSCP), CFLP analysis can be used to identify sequence polymorphisms in large DNA fragments (i.e. >1 kilobase). Unlike other mutation detection techniques, many of which simply provide a "yes or no" answer regarding the presence of sequence polymorphisms, CFLP method provides a means of uniquely identifying each variant. The CFLP technology therefore affords an amount of information comparable to that obtained by DNA sequencing for a fraction of the cost and effort. Third Wave has formed alliances with five major distributors in four product markets. In addition, the company recently received a second ATP award to develop generic, enzyme-based technologies suitable for healthcare applications, such as large-scale treatment monitoring and point-of-care testing. For more information: Sheldon Clark, Director of Marketing, Third Wave Technologies, 502 South Rosa Rd., Madison, WI 53719. Tel: 608-273-8933. Fax: 608-273-6989. Email: sclark@twt.com. By Angelo DePalma
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Third Wave Technologies, Inc.  Mergers  Acquisitions MA, Partnerships  Alliances and Investment Report Prices from USD $350
06:08 EST 2 Dec 2016 | BioPortfolio Reports
Home » Topics » Alliances, mergers acquisitions and partnerships » Latest News » Third Wave Technologies, Inc.  Mergers  Acquisitions MA, Partnerships  Alliances and Investment Report Prices from USD $350
Project Synopsis:
Datamonitor's Company Mergers Acquisitions MA, Partnerships  Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Project Description:
Datamonitors' Third Wave Technologies, Inc. Mergers  Acquisitions MA, Partnerships  Alliances and Investments report includes business description, detailed reports on mergers and acquisitions MA, divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Third Wave Technologies, Inc. since January 2007. Scope:
Provides intelligence on Third Wave Technologies, Inc.'s MA, strategic partnerships and alliances, capital raising and private equity transactions. Detailed reports of various financial transactions undertaken by Third Wave Technologies, Inc. and its subsidiaries since 2007. Information about key financial and legal advisors for Third Wave Technologies, Inc.'s financial deals transactions. Financial deals tables and charts covering deal value and volumes trend, deal types and geographybased deal activity. Highlights:
This report includes Third Wave Technologies, Inc.'s contact information and business summary, tables, graphs, a list of partners and targets, a breakdown of financial and legal advisors, deal types, top deals by deal value, detailed deal reports, and descriptions and contact details of the partner, target, investor, and vendor firms, where disclosed. The profile also includes detailed deal reports for all MA, private equity, public offering, venture financing, partnership and divestment transactions undertaken by Third Wave Technologies, Inc.. These deal reports contain information about target company financials, sources of financing, method of payment, deal values, and advisors for various parties, where disclosed. Reasons to Purchase:
Access comprehensive financial deals data along with charts and graph covering MA, private equity, and partnerships and alliances. Form an independent opinion about Third Wave Technologies, Inc.'s growth strategies through the organic and inorganic activities undertaken since 2007. Track your competitors' business structure and growth strategies. Related Biotechnology, Pharmaceutical and Healthcare News


Third Wave Technologies Inc.  Mergers  Acquisitions MA Partnerships  Alliances and Investment Report Prices from USD $350

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