UPPSALA, Sweden, June 30, 2005 (PRIMEZONE) -- Uppsala, Sweden, June 30, 2005. Biacore International AB (SSE:BCOR) announces today that negotiations have been concluded with the local Swiss authorities regarding the financial implications related to the return of Biacore's Corporate Headquarters and operations to Uppsala, Sweden, from Neuchatel in Switzerland. The result of these negotiations will positively impact the Group's net income in 2005, and its cashflow over the course of approximately the next five years. In conjunction with the return of Biacore's Corporate Headquarters to Uppsala, Biacore AB purchases certain assets, valued by a third party, from the Swiss company, Biacore International SA. Biacore AB will write off these assets over the course of approximately the next five years. This write-off will result in a tax credit totalling about SEK 110 million. In 2005, the impact of this asset transfer between Biacore AB and the Swiss company and its subsequent write-down will be accounted for via a one-off tax credit that will lead to an increase of the Group's net income in 2005 of about SEK 110 million or about SEK 11 per share. The impact of this transaction will be included in Biacore's Half-Year Report which will be released on July 19, 2005.
About Biacore
Biacore is a global supplier of analytical systems that improve the productivity of research and development in the life science and pharmaceutical markets. The company's instruments generate unique data on protein interactions, an area of increasing focus in these markets. The data give insights into protein functionality, the role of proteins in normal and diseased states, and the influence of potential drug candidates. Use of Biacore products is well-documented in key areas such as antibody characterization, proteomics, lead optimization and bio-therapeutic development and production. Customers include world renowned life science research centers, all of the leading global pharmaceutical companies and a large number of companies in the emerging biotechnology sector. Biacore is successfully expanding into the food analysis market, providing key manufacturers with ready-to-use solutions for the determination of food quality and safety. The company offers a range of products to meet specific customer needs. All instruments utilize Surface Plasmon Resonance (SPR) technology as the basis for detection and monitoring of protein interactions. Biacore has its own direct sales capability in the world's key markets, United States, Europe, Japan, Australia and a distribution network in Asia-Pacific. The company was created in 1984, is based in Uppsala, Sweden, and is listed on the Stockholm Stock Exchange www.stockholmsborsen.se (SSE: BCOR).
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