Motorola, Compugen In DNA Chip Venture

Motorola (MOT Quote) and Israeli biotechnology firm Compugen(CGEN Quote) said Tusday they have signed an agreement to jointly develop, manufacture and commercialize selected DNA biochips.

The companies did not disclose financial terms of the deal, but said Motorola's biochip systems unit will use Compugen's LEADS platform and proprietary DNA chip-design tools, which improve scientists' ability to incorporate the biologically active variant of genes into the design and manufacture the DNA biochips.

Shares of Compugen were recently up 5%, or 38 cents, to $8 in trading on the Nasdaq, while Motorola shares fell 1.44%, or 31 cents, to $21.38 on the New York Stock Exchange composite trading.