Biacore Enters Collaboration with SmithKline Beecham; Further Deal Validates the Value of Biacore's Technology to the Drug Discovery Industry.Business Editors & Health/Medical Writers UPPSALA, Sweden--(BUSINESS WIRE)--Feb. 22, 2000 Biacore International AB (Biacore) (SSE (1) An earlier full-screen editor in OS/2. (2) (Streaming SIMD Extensions) A series of additional instructions built into Pentium CPU chips for improved multimedia performance by performing mathematical operations on multiple sets of data at the :BCOR)(Nasdaq:BCOR) today announced that it has entered into a collaborative agreement with SmithKline Beecham Pharmaceuticals (LSE LSE - Language Sensitive Editor :SB.L), whereby the pharmaceutical giant will evaluate Biacore's new prototype high performance system in preclinical and ADME ADME Absorption, Distribution, Metabolism, and Excretion ADME Association of Destination Management Executives ADME Active Duty Medical Extension (a) drug screening studies. The collaboration marks yet another milestone in Biacore's commitment to providing novel analytical systems to help the pharmaceutical industry increase the flow of high-quality drug leads reaching the clinic. The collaboration is second in a series of validation deals aimed at fully optimizing the new high performance system for applications downstream of high-throughput drug screening. The first deal was signed with Millennium Pharmaceuticals Millennium Pharmaceuticals NASDAQ: MLNM is a biotechnology company based in the Cambridge, Massachusetts area of the United States of America. Founded in 1993, the company conducts research in various scientific areas, currently focusing on inflammation and oncology. Inc. in December 1999. As part of the agreement, SmithKline Beecham will rigorously test the device in studies to measure its utility in generating critical drug discovery data. "This collaboration, like the deal we recently entered into with Millennium Pharmaceuticals, endorses the undoubted value of our biosensor A device that detects and analyzes body movement, temperature or fluids and turns it into an electronic signal. See lab on a chip and data glove. Biosensor technology to the drug discovery industry," said Lars-Goran Andren, Biacore's President and Chief Executive Officer. He added, "Securing SmithKline Beecham as a validation partner means that we will benefit from the expertise of a major pharmaceutical research effort as we seek to optimize the ability of our new high-performance system to overcome the key bottlenecks downstream of high-throughput screening High-throughput screening (HTS), is a method for scientific experimentation especially used in drug discovery and relevant to the fields of biology and chemistry. Purpose and method ." (a) ADME stands for Absorption, Distribution, Metabolism and Excretion and represents the pharmaceutical characterization of new drug candidates. (Reuters: BCOR.N) - Ends - This press release contains certain forward-looking statements within the meaning of the United States 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, which, by their nature, involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Notes to editors: Biacore is a global market leader in affinity-based biosensor technology with its own sales operations in the U.S., across Europe, in Japan, Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . The technology is protected by a strong patent portfolio. Target groups consist primarily of medical and life science research laboratories and pharmaceutical and biotechnology companies all over the world. Biacore focuses on drug discovery as the prime area for future growth. Based in Uppsala, Sweden, the company is listed on the OM Stockholm Exchange and Nasdaq in the U.S. In 1999 the company has sales of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 340.4 million and an operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of SEK 67.6 million. Further information on Biacore can be found on the web: www.biacore.com Address and phone: Biacore International AB Rapsgatan 7, SE-754 50 Uppsala, SWEDEN Phone: +46 (0)18-675700 Fax: +46 (0)18-150111 info@biacore.com Please visit http://www.bit.se for further information. The following files are available for download: http://www.bit.se/bitonline/2000/02/22/20000222BIT00260/bit0001.doc http://www.bit.se/bitonline/2000/02/22/20000222BIT00260/bit0002.pdf |
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