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ENDOTRONICS, INC. AGREES TO PURCHASE VERAX PRODUCT LINE

 MINNEAPOLIS, April 27 /PRNewswire/ -- Endotronics, Inc. (NASDAQ: ENDO) announced today that it has entered into an agreement to purchase certain product line assets and technology from the Verax Corporation, the closing of which is expected to take place within the next two weeks. In connection with such acquisition, the company will acquire a series of cell culture products from Verax which utilize a fluidized bed bioreactor technology. This technology has proven to be effective for the growth of both suspension cells and attachment dependent cells, and for the related production of monoclonal antibodies and recombinant proteins.
 In commenting on the agreement, Richard E. Sakowicz, president and chief operating officer of Endotronics, said, "With this addition to our product line, Endotronics can now provide its customers the most diversified set of large volume automated, mammalian cell culture systems in the industry. Each system, whether it uses hollow fiber, ceramic core, stirred tank or fluidized bed technology, offers our customers a broad set of system alternatives that can be tailored to meet their specific needs. The systems in each series accommodate the customers' requirements from process development to commercial scale production."
 Endotronics has agreed to purchase the product line for a total of $2,300,000 in the form of two notes, one for $1,900,000 which the company expects to repay in cash in May of 1993 and the other $400,000 is payable in two equal annual installments two years following the date of closing the acquisition.
 Endotronics, Inc., headquartered in Minneapolis, is dedicated to providing cell processing products and services to meet the needs of human health care and biotechnology markets worldwide.
 -0- 4/27/93
 /CONTACT: Yvonne L. Marschner-Bova, director, investor relations, Endotronics, Inc., 313-871-7350/
 (ENDO)


CO: Endotronics, Inc.; Verax Corporation ST: Minnesota IN: MTC SU: TNM

JG -- DE018 -- 1369 04/27/93 12:21 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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