PerSeptive Biosystems Announces Strategic Alliance with Boehringer Mannheim.FRAMINGHAM, MA--(HealthWire)--September 5, 1995--PerSeptive Biosystems, Inc. (Nasdaq: PBIO PBIO Processor Backplane I/O (NASA) PBIO Portable Binary Input Output ) announced today that it has entered into a strategic alliance with Boehringer Mannheim, a major worldwide healthcare company with businesses in therapeutics, laboratory diagnostics, patient care and biochemicals. Under the terms of the Strategic Alliance Agreement, Boehringer Mannheim will share the co-exclusive right, together with PerSeptive and its agents, to distribute PerSeptive's POROS(R) chromatography columns worldwide, subject to certain performance minimums. The parties also plan to conduct joint research and development to develop advanced biochemical tools and reagents. Boehringer Mannheim has also agreed to purchase $2 million of PerSeptive's common stock at a purchase price of $12.69 per share and has an option to purchase an additional $1 million at this price during the next 24 months. PerSeptive's POROS(R) products consist of a full line of analytical and purification tools for the life sciences industry using PerSeptive's patented Perfusion perfusion /per·fu·sion/ (-zhun) 1. the act of pouring over or through, especially the passage of a fluid through the vessels of a specific organ. 2. a liquid poured over or through an organ or tissue. Chromatography(R) technology. POROS(R) products enable purification and analysis procedures to be performed 10 to 1,000 times faster than with conventional chromatography products. Since their introduction in 1990, POROS(R) and Perfusion Chromatography(R) have set the performance standards in speed, resolution and capacity for biomolecular separations. Dennert Ware, President of Boehringer Mannheim's Biochemical Division stated, "Biochemical researchers are experiencing increased competition for funding. Boehringer Mannheim is pleased to enter into this relationship because it will offer our research customers yet another tool enabling them to increase their productivity and competitiveness. We look forward to the potential for increased cooperation with PerSeptive Biosystems as we address the needs of our customers with emerging technologies." Noubar B. Afeyan, PerSeptive'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. , commented, "We are pleased to join forces with Boehringer Mannheim in this strategic alliance. We believe that the combination of PerSeptive's superior Perfusion Chromatography(R) products with Boehringer's unparalleled worldwide distribution capabilities will establish our POROS(R) products as the new industry leader in bio-chromatography." Boehringer Mannheim is part of Bermuda-based Corange Limited, a $3.5 billion international healthcare company. Corange with its two brands, Boehringer Mannheim and DePuy, has operating companies operating company A business that engages in transactions with outsiders. in all major countries and employs over 20,000 people worldwide. At Penzberg in southern Germany The term Southern Germany (German: Süddeutschland) is used to describe a region in the south of Germany. The exact area defined by the term is not constant, but it usually includes Bavaria, Baden-Württemberg, and the southern part of Hesse. the group operates one of the largest biotechnology facilities in Europe. PerSeptive Biosystems develops, manufactures and markets proprietary products and systems for the purification, analysis and synthesis of biomolecules This page aims to list articles on Wikipedia that describe particular biomolecules or types of biomolecules. This list is not necessarily complete or up to date - if you see an article that should be here but isn't (or one that shouldn't be here but is), please update the page . The Company's enabling products are used in the life sciences industry to significantly reduce the time and cost required for the development and manufacture of biopharmaceuticals. PerSeptive's current and planned products are based on its patented core technologies in the fields of chromatography, immunoassay Immunoassay An assay that quantifies antigen or antibody by immunochemical means. The antigen can be a relatively simple substance such as a drug, or a complex one such as a protein or a virus. , solid-phase synthesis In chemistry, solid-phase synthesis is a method in which molecules are bound on a bead and synthesized step-by-step in a reactant solution; compared with normal synthesis in a liquid state, it is easier to remove excess reactant or byproduct from the product. , rational surface design, biological mass spectrometry mass spectrometry or mass spectroscopy Analytic technique by which chemical substances are identified by sorting gaseous ions by mass using electric and magnetic fields. and magnetic separations. PerSeptive had total revenues of $46 million for fiscal 1994 and revenues of $65 million for the first nine months of fiscal 1995. CONTACT: PerSeptive Biosystems Inc. Noubar B. Afeyan, 508-383-7700 or Burns McClellan, Inc. Lilian S. Stern (investor relations Investor relations The process by which the corporation communicates with its investors. ) Karen Bergman (media relations), 212-505-1919 |
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