Biotage AB Acquires Rights to Novel Evaporation System from Vapourtec, Ltd.STOCKHOLM, Sweden -- Biotage (STO:BIOTA) has acquired the exclusive distribution, production and further development rights to Vapourtec's solvent evaporation evaporation, change of a liquid into vapor at any temperature below its boiling point. For example, water, when placed in a shallow open container exposed to air, gradually disappears, evaporating at a rate that depends on the amount of surface exposed, the humidity system, known as the V-10. After several years in development the V-10 was launched July 2005. The agreement also provides for Vapourtec to deliver further developments and line extensions for the product within 2006. The purchase price for the deal consists of an up-front payment and partial payments related to sales development. The total purchase could reach at maximum 2,3 MGBP MGBP Miejsko Gminna Biblioteka Publiczna . Commercial activities will begin immediately and sales for 2007 are expected to reach between 5 to 10 MUSD. "Evaporation presents a major bottleneck A lessening of throughput. It often refers to networks that are overloaded, which is caused by the inability of the hardware and transmission lines to support the traffic. It can also refer to a mismatch inside the computer where slower-speed peripheral buses and devices prevent the CPU in chemistry and drug development. Vapourtec's V-10 substantially reduces sample drying time for pharmaceutical chemists and fills this void in our product lines," said Jeff Bork, Biotage AB 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. . Duncan Guthrie, Vapourtec founder and CEO adds "Biotage was the logical choice for partnering. They have large scale production facilities, a global sales and service presence and we intend to have an excellent relationship going forward on mutual development programs." "Evaporation is a technique employed immediately following synthesis and purification purification, in religion, the ceremonial removal of what the religion deems unclean. The usual agents of purification are water (as in baptism), bodily alteration (as in circumcision), and fire. - so it is essential that Biotage offer this technology. Vapourtec's V-10 was brought to our attention by some of our largest customers who participated in the product development phase. In addition to operating in batch mode at rates up to 40X faster than conventional evaporators, the Vapourtec product also operates in a continuous flow mode, which offers advantages not possible with alternative designs," stated Dave Patteson, President of Biotage's Discovery Chemistry Group. About Biotage Biotage is a global company active in life science research with strong technologies, a broad range of operations and a long-term view of the market. The company offers solutions, knowledge and experience in the areas of genetic analysis and medicinal chemistry Medicinal or pharmaceutical chemistry is a scientific discipline at the intersection of chemistry and pharmacology involved with designing, synthesizing and developing pharmaceutical drugs. . Customers include the worlds top 30 pharmaceutical companies, 20 largest biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. companies and leading academic institutes. The company is headquartered in Uppsala and has offices in the US, Japan, UK and several other European countries. Biotage has approx. 330 employees and had pro-forma sales of approx. 500 MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner in 2004. Biotage is listed on the Stockholm stock exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. . Website: www.biotage.com -- ---------------------------------------------------------------------- About Vapourtec Ltd. Vapourtec is a research and technology company located close to Cambridge, UK. Its strength is strong R&D focusing on the drug discovery and associated industries, with particular emphasis on medicinal chemistry. Vapourtec works in close partnership with major pharmaceutical companies, with the objective of converting innovative processes into reliable instrumentation. This Agreement with Biotage gives Vapourtec the opportunity to concentrate on additional novel technologies of benefit to the pharmaceutical industry. This information was brought to you by Waymaker http://www.waymaker.net |
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