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 CAMBRIDGE, Mass., Nov. 16 /PRNewswire/ -- PerSeptive Biosystems Inc. (NASDAQ-NMS: PBIO) announced today that it has filed with the Securities and Exchange Commission a Registration Statement relating to the formation of PerSeptive Technologies II Corp. (PTC II), an independent research and development corporation. PerSeptive will exclusively license to PTC II the application of its core technologies in (i) clinical diagnostic testing, (ii) systematic screening of chemical and biological compounds for therapeutic drug screening, (iii) DNA and protein sequencing using mass spectrometry, and (iv) DNA and peptide synthesis systems and related reagents.
 The Registration Statement covers the sale of 2,300,000 units consisting of one share of Callable Common Stock of PTC II and one Five Year Warrant to purchase one share of PerSeptive Common Stock. The units are being offered at a price of $22 per unite. PerSeptive may purchase all of the stock of PTC II or certain of the PTC II programs at any time through Dec. 31, 1997 at increasing prices. The underwriters for the offering are Alex. Brown & Sons and Cowen & Co. The underwriters have been granted an option to purchase an additional 345,000 units to cover over-allotments.
 PerSeptive has formed PTC II to accelerate research and development aimed at the application of PerSeptive's core technologies to commercial opportunities in large life sciences markets. These opportunities extend beyond PerSeptive's core business in the purification and analysis of biomolecules. PTC II has retained PerSeptive to perform research and development on behalf of PTC II.
 At the completion of this offering, PerSeptive intends to exercise its option to purchase the common stock of PerSeptive Technologies Corp. (PTC), an independent research and development corporation formed by PerSeptive in 1992 to pursue clinical diagnostics and drug screening technologies. Based on progress made to date by PTC and additional developments at PerSeptive, PerSeptive formed PTC II to pursue these expanded life science opportunities.
 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. Its current and planned products are based on its core technologies: Perfusion Chromatography(R) for high resolution separations of biomolecules 10 to one thousand times faster than conventional chromatography; ImmunoDetection(TM) for real-time immunoassays in flow-through cartridge format; Rational Surface Design(TM), synthetic surfaces that bind biomolecules with the high specificity of antibodies; and Mass Spectometry for biomolecular analysis with high resolution and sensitivity.
 Prospectuses may be obtained form Alex. Brown & Sons Inc., 135 E. Baltimore St., Baltimore, MD 21202, Attn: Michael Ott; or Cowen & Co., Financial Square, 27th Floor, New York, NY 10005, Attn: Jack Dunphy.
 NOTE: A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. Information contained therein is subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective.
 This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 11/16/93
 /CONTACT: Robert A. Fein, senior vice president-finance, of PerSeptive Biosystems, 617-621-1787/

CO: PerSeptive Biosystems Inc.; PerSeptive Technologies II Corp.;
 Alex. Brown & Sons; Cowen & Co. ST: Massachusetts IN: MTC SU: OFR

IC-RB -- SE009 -- 5224 11/16/93 19:52 EST
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Publication:PR Newswire
Date:Nov 16, 1993

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