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PERSEPTIVE BIOSYSTEMS, INC. ANNOUNCES SECOND QUARTER RESULTS

 CAMBRIDGE, Mass., May 3 /PRNewswire/ -- PerSeptive Biosystems, Inc. (NASDAQ: PBIO) today reported results for the second quarter ended March 31, 1993. Revenues for the quarter were $4,070,000, up from $1,105,000 for the same period in 1992. The company reported a loss for the quarter of $399,000, or 4 cents a share, compared to a loss of $773,000, or 58 cents a share, for the quarter ended March 31, 1992. Growing product sales account for most of the increase in revenues. The loss for the 1992 period would have been 16 cents a share had convertible preferred stock outstanding at that time been converted to common stock, as it was at the time of the company's June 1992 public offering.
 "With year-to-date revenues of $7.3 million, we have already outpaced the $5 million in revenues we posted in 1992," commented Dr. Noubar B. Afeyan, president and chief executive officer of PerSeptive Biosystems. "Our growth in revenues has enabled us to continue to strengthen our sales, marketing and technical support organizations in order to position us for further growth.
 "In particular, we have committed ourselves to capitalizing on the productivity gains our systems yield in the process, or manufacturing end of biopharmaceutical development," Afeyan continued. "Our increasing sales result from these productivity gains as customers discover the impact of our systems in biopharmaceutical development and manufacturing."
 PerSeptive's process products include chromatographic media and novel automated analytical and purification systems that provide biopharmaceutical manufacturers extraordinary opportunities to accelerate and monitor production. In a paper published in the February issue of the technical journal Bio/Technology, Merck Research Laboratories scientists reported the use of PerSeptive's POROS(R) media for process-scale bioseparations reduced purification time one-half, increased the yield of purified product and eliminated the need for cold-room isolation facilities.
 PerSeptive Biosystems also recently introduced a new process system, the Real-Time Process Monitor (RPM(tm)), the first instrument to perform real-time immunoassays. RPM continuously tracks product in the manufacturing process, providing instant information to biopharmaceutical developers and manufacturers, and, critically, allowing manufacturers a new level of product documentation for regulators. Hundreds of time-consuming immunoassays must be performed throughout biopharmaceutical manufacturing to determine product concentration and purity. Conventional analytical techniques often take as long as 24 hours to complete. The lag time between product sampling and the availability of results is not only costly to manufacturers, but operates as a barrier to optimization of bioprocessing methods.
 PerSeptive Biosystems designs, manufacturers and markets proprietary products and systems for the purification and analysis of biomolecules. These bioseparations products are designed to reduce significantly 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 10 to 1,000 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.
 PERSEPTIVE BIOSYSTEMS, INC.
 SELECTED FINANCIAL INFORMATION
 Selected Income Statement Data
 (In thousands except share data)
 Three months ended March 31 1993 1992
 Revenues:
 Product Sales $3,387 $1,105
 Contract research and development 683 ---
 Total 4,070 1,105
 Costs and expenses:
 Cost of product sales 1,255 412
 Cost of contract research and development 505 ---
 Research and development 940 562
 Selling, general and administrative 1,883 907
 Loss from operations (513) (776)
 Interest income (expense, net) 213 3
 Other expense (99) ---
 Net loss ($399) ($773)
 Net loss per share (4 cents) (58 cents)
 Weighted average common
 shares outstanding 9,515,509 1,830,819
 Selected Balance Sheet Data
 (in thousands)
 March 31, 1993 Sept. 30, 1992
 Cash and investments $44,710 $17,174
 Total assets $56,386 $22,209
 Total indebtedness $518 $635
 Total stockholders equity $52,833 $19,297
 -0- 5/3/93
 /CONTACT: Robert A. Fein, senior vp-finance of PerSeptive Biosystems, 617-621-1787, or Pam Haslam, senior vp of Feinstein Partners, 617-577-8110, for PerSeptive Biosystems/
 (PBIO)


CO: PerSeptive Biosystems, Inc. ST: Massachusetts IN: MTC SU: ERN

DJ -- NE009 -- 3740 05/03/93 11:21 EDT
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Date:May 3, 1993
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