STOCKHOLM, Sweden, Sept. 17, 2004 (PRIMEZONE) -- Biotage and 454 Corporation have expanded the one-year-old license agreement, which gave 454 Corporation exclusive rights to use sequencing by synthesis and pyrophosphate based sequencing for whole genome and other high density and high throughput applications. The expanded license gives 454 Corporation the exclusive rights to use the technology for all applications on platforms performing over 1536 reactions. Consequently, the minimum royalty of 1 MUSD per annum increases to 1.25 MUSD per year for at least two years, with the right to continue the agreement throughout the lifetime of the patents. This means that Biotage, for the agreements in total, can receive a minimum royalty of 13 MUSD until year 2014, out of which 3 MUSD have already been paid.
About Biotage
Biotage is a global company active in life science research with strong technologies, a broad range of operations and a long-term view of the market. The company offers solutions, knowledge and experience in the areas of genetic analysis and medicinal chemistry. Customers include the world's top 30 pharmaceutical companies, 20 largest biotech companies and leading academic institutes. The company is headquartered in Uppsala and has offices in the US, Japan and several European countries. Biotage has approx. 250 employees and had pro forma sales of 362 MSEK in 2003. Biotage is listed on the Stockholm stock exchange. Website: www.biotage.com
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 Biotage'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 the terms of the safe harbor, Biotage notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations), variability of operating results, the commercial development of the microwave synthesis and flash purification in the drug discovery market, DNA sequencing and genomics market, nucleic acid-based molecular diagnostics market, and genetic vaccination and gene therapy markets, competition, rapid or unexpected changes in technologies, fluctuations in demand for Biotage'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.
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Biotage expands licence agreement with 454
-0- Contact: Jeff Bork, President and CEO Tel: +46 734 22 16 60