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 CAMBRIDGE, Mass., Aug. 25 /PRNewswire/ -- PerSeptive Biosystems, Inc. (NASDAQ-NMS: PBIO) and Vestec Corporation, a privately held corporation based in Houston, Texas, announced today that they have signed a letter of intent relating to the acquisition of Vestec by PerSeptive. 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 letter of intent calls for the issuance of $4 million worth of newly issued PerSeptive shares to Vestec's shareholders. Consummation of the transaction is subject to various approvals and other conditions.
 Noubar B. Afeyan, Ph.D., president and CEO of PerSeptive, commented on the acquisition as follows: "PerSeptive research scientists and other members of the scientific community have published papers on the enabling nature of Perfusion Chromatography(R) as an interface for mass spectrometry. The high sensitivity and resolution afforded by mass spectrometry make it a broadly enabling technology for the measurement and characterization of biomolecules, the sequencing of proteins and DNA and the monitoring of biopharmaceutical processes. Vestec's technical leadership in this field makes it an ideal fit for PerSeptive in addressing these biomolecular applications."
 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 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.
 Marvin Vestal, Ph.D., president and chief executive officer of Vestec, added: "We at Vestec have dedicated our efforts to expanding the reach of the mass spectrometer to the bench scientist. We believe that our combination with PerSeptive, which has established an outstanding track record of commercializing novel technologies and tools for the biopharmaceutical industry, represents the best means of meeting our goals."
 Dr. Afeyan commented further: "Mass spectrometry will be broadly applicable to biopharmaceutical developers and manufacturers in areas of development ranging from basic research, to process development to quality control/quality assurance. As a result, mass spectrometry will fit well with both our analytical products such as the BioCAD(TM)/SPRINT(TM) System and the soon-to-be-introduced Integral(TM) Micro-Analytical Workstation and our process products for validation of biopharmaceutical processes such as our Real-Time Process Monitor(TM) (RPM (TM))."
 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- 8/25/93
 /CONTACT: Robert A. Fein, senior vice president, finance, of PerSeptive Biosystems, Inc., 617-621-1787/

CO: PerSeptive Biosystems, Vestec ST: Massachusetts, Texas IN: MTC SU: TNM

CM -- NE003 -- 5742 08/25/93 09:46 EDT
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Publication:PR Newswire
Date:Aug 25, 1993

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