CHELMSFORD, Mass., Sept. 16, 2015 (GLOBE NEWSWIRE) -- Brooks Automation (NASDAQ:BRKS), a leading worldwide provider of automation and cryogenic solutions for semiconductor manufacturing and life science markets, and PharmaSeq, Inc., a provider of technology based on the ultra-small light-activated microtransponder (p-Chip®), announced today a definitive exclusive agreement to license PharmaSeq’s p-Chip technology for use in life sciences applications. The emphasis will be on tagging and tracking biological and related samples used in biorepositories, including cryogenic storage and related areas. In addition to obtaining the exclusive license, Brooks has agreed to make an equity investment in PharmaSeq and the Companies plan to cooperate on future technology developments.
Under the agreement, PharmaSeq will supply p-Chips and related components to Brooks who will incorporate them into a new, advanced line of biosample storage systems. The initial offerings will include sample tubes tagged with p-Chips, readers, and robotic storage devices that will provide Brooks’ customers with integrated systems for managing large quantities of samples.
Dusty Tenney, President of Brooks Life Sciences stated, “The agreement with PharmaSeq is an important step in expanding our capabilities within life sciences. The p-Chip technology further enables reliable information and security for samples in challenging cold conditions down to low cryogenic (‑190°C) temperatures and is compatible with our range of biostorage products, including our newest release, the BioStore III Cryo automated -150°C store.”
Richard G. Morris, Ph.D., CEO of PharmaSeq, remarked, “This is a key milestone for PharmaSeq. Our business strategy involves licensing our technology to industry leaders who will rapidly bring new products to customers through their existing distribution channels. Brooks is a company widely admired for its engineering expertise in automated storage systems as well as its world-class sales and distribution organization. We are delighted that our p-Chip is expected to be an important component in Brooks’ product offering. We are confident that Brooks will establish p-Chip-containing products as a new industry standard to be widely adopted by the biobanking and biopharma industry.”
About Brooks Automation, Inc.
Brooks is a leading worldwide provider of automation and cryogenic solutions for multiple markets including semiconductor manufacturing and life sciences. Brooks’ technologies, engineering competencies and global service capabilities provide customers with speed to market and ensure high uptime and rapid response, which equate to superior value in their mission-critical controlled environments. Since 1978, Brooks has been a leading partner to the global semiconductor manufacturing market and, through product development initiatives and strategic business acquisitions, has expanded offerings to meet the needs of customers in the life sciences industry, analytical and research markets and clean energy solutions. Brooks is headquartered in Chelmsford, MA, with direct operations in North America, Europe and Asia.
About PharmaSeq, Inc.
PharmaSeq, Inc., has developed an ultra-small microtransponder tag called the p-Chip that has the potential to revolutionize several billion-dollar industries. The p-Chip is the smallest, most technologically advanced commercial product available today for tagging and authenticating consumer goods, industrial goods and small animals. It is at least 100-fold smaller than current gold standard RFID tags and costs far less to manufacture in volume – an order of magnitude less expensive than tags commonly used today. The p-Chip is nearly impossible to counterfeit and can be used reliably in environmentally challenging conditions ranging from -190°C to well over 120⁰C. The unique capabilities of the p-Chip make this foundational technology highly attractive in a broad range of markets.
“Safe Harbor Statement” under Section 21E of the Securities Exchange Act of 1934
Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Brooks' financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. These forward-looking statements include statements regarding the expected timing and benefits of the newly developed products incorporating PharmaSeq’s p-Chip technology. Factors that could cause results to differ from our expectations include the following: volatility of the industries the Company serves, particularly the semiconductor industry; our possible inability to meet demand for our products due to difficulties in obtaining components and materials from our suppliers in required quantities and of required quality; the inability of customers to make payments to us when due; the timing and effectiveness of cost reduction and cost control measures; price competition; disputes concerning intellectual property; continuing uncertainties in global political and economic conditions, and other factors and other risks that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, current reports on Form 8-K and our quarterly reports on Form 10-Q. As a result we can provide no assurance that our future results will not be materially different from those projected. Brooks expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based. Brooks undertakes no obligation to update the information contained in this press release.
Contact for Brooks Automation:
Lynne Yassemedis
Brooks Automation, Inc.
978-262-2400
www.brooks.com
Investor Relations
John Mills
ICR, Inc.
Partner
310-954-1105
Contact for PharmaSeq:
Richard G. Morris, Ph.D.
PharmaSeq, Inc.
732-355-0100
www.pharmaseq.com