Stock Watch: Chemdex Climbs on Dupont Deal

Monday was also a good day for Chemdex (Nasdaq: CMDX), an online marketplace for the life sciences industry. Shares of Chemdex, which has Internet incubator CMGI as a shareholder, climbed nearly 10 percent on Monday, gaining 9 to 100-3/4 after the company announced that it has teamed up with DuPont to create Industria Solutions, a new business-to-business e-commerce company for the $75 billion worldwide fluid processing market. This market includes companies from industries such as chemical, oil and gas, pulp and paper, power generation and pharmaceuticals.

The new venture will receive initial cash funding of $30 million, including $10 million from CMGI’s @Ventures venture-capital affiliate. Industria will work with IBM and Ariba to create its marketplace services.

On Monday, Robertson Stephens reiterated its buy rating on Chemdex.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

E-Commerce Times Channels