Argonaut Forms Consortium of Top Pharmaceutical and Chemical Companies to Develop An Automated Process Development Instrument.Business Editors/Health & Medical Writers FOSTER CITY, Calif.--(BW HealthWire)--Nov. 5, 2001 Argonaut Technologies, Inc. (Nasdaq:AGNT AGNT Association for Global New Thought AGNT Agent Table ) announced today the formation of a new consortium comprised of two major pharmaceutical and specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. companies with the goal of developing a state-of-the-art, multi-channel synthesizer synthesizer Machine that electronically generates and modifies sounds, frequently with the use of a digital computer, for use in the composition of electronic music and in live performance. for chemical process optimization Process optimization is the practice of making changes or adjustments to a process, to get results. Optimization is the use of specific techniques to determine the most cost effective and efficient solution to a problem or design for a process. . Joining in the collaboration are Pfizer Inc. and ICI (language) ICI - An extensible, interpretated language by Tim Long with syntax similar to C. ICI adds high-level garbage-collected associative data structures, exception handling, sets, regular expressions, and dynamic arrays. PLC. Argonaut's new process chemistry system will be designed to deliver a fully automated process development solution, with the flexibility and ease of a manual device. Each participating company may receive one or more of the fully automated advanced process development tools at the end of the collaboration. This consortium represents Argonaut's fifth product development consortium. Consortium members provide expert advice to define new instrument specifications and to test and validate initial versions of the product design. Previous collaborations have resulted in the development and commercialization of Argonaut's Trident(TM) Automated Library Synthesizer, as well as the Surveyor(TM). "We are excited about working with these world-class organizations and their leading chemists to define the next generation of process development instruments," said Lissa Goldenstein, Argonaut's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Consortium members' input is vital to our development process and helps ensure that Argonaut meets the needs of our customers right from the start. Our previous consortia have proven that this methodology produces better, more cost-effective products for the market." "This new process chemistry system hopes to combine the parallel throughput of our Surveyor with the control and analytical capabilities of our CLARK(TM)," said Dennis Dye, Argonaut's vice president of instrumentation. "One of the features anticipated to be integrated into this tool is in-situ analytical techniques under pilot plant-like conditions. This may help our customers refine and perfect their processes before they spend large amounts of money on physical plant and equipment." "The Argonaut consortium provides ICI with a unique opportunity to help develop a state-of-the-art computerized, multi-reactor unit for synthesizing polymers at a useful scale for screening purposes," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Stephen Downing Stephen Downing (born 1957) is an English man who was convicted of murdering Wendy Sewell in Bakewell, Derbyshire in 1973. His conviction was declared unsafe by a Court of Appeal in 2001 and he was released following a long campaign fought by his family and local newspaper editor , strategic research manager at ICI Paints. "Argonaut has thought quite deeply about the design of both the hardware and software and is listening to the customer's needs for combining functionality, capability and user-friendliness at an affordable cost. This new system should automate current processes and generate useful data for developing new formulations and processes." Argonaut Technologies Argonaut Technologies, Inc. is a pioneer in the development of innovative products that speed and simplify how chemists discover and develop new chemical entities. Our products enable chemists to increase their productivity, reduce their operating costs through automation and process simplification, achieve faster time-to-market for new products, and cost-effectively explore the increasing number of drug targets available for drug development. We provide solutions that are used in over 825 pharmaceutical, chemical and academic laboratories worldwide. Our instruments, software and consumables for chemistry enable chemists to perform experiments under a variety of conditions in a fraction of the time and cost of traditional methods. Forward Looking Statements Statements included in this press release that are not historical in nature may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Examples of such forward-looking statements include, without limitation, statements regarding a new process chemistry system or any new instruments or tools, any benefits for customers to be derived from new instruments or tools or the output of the consortium, the impact of the consortium on product development, and the ability of Argonaut's products to enhance chemical development or achieve market acceptance. Any such forward-looking statements involve risks and uncertainties and reflect Argonaut's judgment as of the date of this release. These and other risk factors are discussed in Argonaut's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000 filed on April 2, 2001, as amended, in its most recent quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2001 filed on August 13, 2001, and its other filings with the Securities and Exchange Commission. Argonaut disclaims any intent or obligation to update these forward-looking statements. The Company claims the protection of the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion