Sequana, Perkin-Elmer to Form Joint Venture

La Jolla-based Sequana Therapeutics Inc. and Norwalk, Conn.-based Perkin-Elmer have signed a letter of intent to form a DNA-sequencing joint venture in Shanghai. The venture, to be called GeneCore BioTechnologies Inc., would provide large-scale, automated DNA analysis and gene sequencing services. Gene sequencing is used in the development of diagnostic tests and in the creation of drugs and industrial enzymes. The project would give the two companies access to the genetic diversity of China, which has one-fifth of the world’s population and a variety of plant and animal life. Chinese officials have said they want to increase the country’s contribution to DNA research. Sequana shares rose 12.5 cents to close at $16.875 on Nasdaq, while Perkin-Elmer shares lost 75 cents to close at $69.25 on the NYSE.