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PERSEPTIVE BIOSYSTEMS ANNOUNCES ACQUISITION OF VESTEC CORPORATION

 CAMBRIDGE, Mass., Oct. 13 /PRNewswire/ -- PerSeptive Biosystems, Inc. (NASDAQ: PBIO) and Vestec Corporation, a privately-held corporation based in Houston, Texas, announced today that they have entered into a definitive agreement relating to the acquisition of Vestec by PerSeptive. The Vestec acquisition represents PerSeptive's entry into the mass spectrometry market for biomolecular analysis. Vestec for many years has been a technological leader in mass spectrometry, an analytical technique used for the identification and measurement of molecules based on their mass. Over the past decade, Vestec has accounted for many of the technical innovations in the field of mass spectrometry including ionization sources and chromatographic interfaces for mass spectrometers and many other techniques designed to simplify mass spectrometry and make it more affordable.
 The agreement calls for the issuance of 203,079 newly issued PerSeptive shares to Vestec's shareholders. The closing of the transaction is expected in the near future.
 Noubar B. Afeyan, Ph.D., president and CEO of PerSeptive, commented on the acquisition as follows: "We believe that our innovations and product offerings in mass spectrometry will be broadly applicable to biopharmaceutical developers and manufacturers in areas ranging from basic research to process development to quality control/quality assurance. We hope to report in the coming months on developments in mass spectrometry for biomolecular analysis from both our research and development labs in Cambridge and Vestec's lab in Houston."
 Recently, Vestec has focused most of its resources on the application of mass spectrometry to biotechnology research laboratories, most specifically in the design of instrumentation that will enable molecular biologists and biochemists to perform mass spectrometry and liquid chromatography/mass spectrometry directly, rather than rely on work performed in centralized mass spectrometry labs. Its products include liquid chromatography/mass spectrometry systems with electrospray ionization sources as well as its recently-introduced benchtop laser desorption time-of-flight mass spectrometer. Recent estimates indicate that the time-of-flight market will grow at a greater than 50 percent compounded rate to $150 million in sales by 1997.
 Afeyan continued: "Through the combination of Vestec and PerSeptive, we believe that we are positioned to obtain a major share of this fast- growing market."
 PerSeptive Biosystems designs, manufactures and markets proprietary products and systems for the purification and analysis of biomolecules. These bioseparations products significantly reduce the time and cost required for the development and manufacture of biopharmaceuticals. The company's current and planned products for the purification and analysis of biomolecules are based on three interrelated core technologies: Perfusion Chromatography(R) for high resolution separations of biomolecules ten to one thousand times faster than conventional chromatography; ImmunoDetection(TM) for real-time immunoassays in a flow- through cartridge format; and Rational Surface Design(TM), synthetic surfaces that bind biomolecules with the high specificity of antibodies.
 -0- 10/13/93
 /CONTACT: Robert A. Fein, senior vice president, finance, of PerSeptive Biosystems, 617-621-1787/
 (PBIO)


CO: PerSeptive Biosystems, Inc.; Vestec Corporation ST: Massachusetts, Texas IN: MTC SU: TNM

JL-DJ -- NE008 -- 1669 10/13/93 12:16 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
Words:491
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