Two orders of scale-up technology to Pyrosequencing

UPPSALA, Sweden, Oct. 13, 2003 (PRIMEZONE) -- Pyrosequencing AB (OtherOTC:PYRSF) (Stockholm:PYROA) announces that two independent major pharmaceutical companies have each placed one order for microwave scale-up technology. The total value of the orders is over SEK 5,000,000.

"We have succeeded in helping pharmaceutical companies to rapidly progress their drug research projects into advanced development stages, hence the need for scale-up solutions," said President and COO of Pyrosequencing, Hans Johansson "This is an important milestone and a strong evidence of the value of our pioneering work with microwave synthesis technology," continued Mr. Johansson.

Jon-Sverre Schanche, VP R&D commented, "It is now accepted that microwave synthesis can transform the output and value of medicinal chemistry through unprecedented qualities such as reproducibility, scalability and speed. Pharma companies are now showing explicit interest in scale-up microwave technology, because the possibility to directly transfer lab-scale results to a scale suitable for the next stage of drug development is unique and highly valuable to them."

About the New Company

Pyrosequencing aims to accelerate the drug discovery and development process by providing complete solutions for applied genetic analysis and medicinal chemistry research. Through its merger with Personal Chemistry the Company has further strengthened its customer base of commercial and academic partners, which include the world's top 20 pharmaceutical companies and prestigious academic institutes such as the US National Institutes of Health, the US Centers for Disease Control and Prevention and Sweden's Karolinska Institute. Headquartered in Uppsala, Sweden, Pyrosequencing has facilities in Boston, USA, Cambridge, UK and Constance, Germany. The Company will have approximately 150 employees and had net sales of MSEK 202 in 2002. The Company is listed on the Stockholm Stock Exchange.

Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as "believe," "expect," "intend," and "should," among others. These forward-looking statements are based on Pyrosequencing's current expectations.The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. In order to comply with theterms of the safe harbor, Pyrosequencing notes that a variety of factorscould cause actual results and experience to differ materially from theanticipated results or other expectations expressed in such forward-looking statements. Such uncertainties and risks include, but are notlimited to, risks associated with management of growth and internationaloperations (including the effects of currency fluctuations), variabilityof operating results, the commercial development of the DNA sequencingand genomics market, nucleic acid-based molecular diagnostics market,and genetic vaccination and gene therapy markets, competition, rapid orunexpected changes in technologies, fluctuations in demand forPyrosequencing's products (including seasonal fluctuations), difficulties in successfully adapting the Company's products to integrated solutions and producing such products, and the Company's ability to identify and develop new products and to differentiate its products from competitors.

This information was brought to you by Waymaker

The following files are available for download:


Contact Data