GeneProt, Inc. and Waters Corporation Announce Technology Partnership Agreement
GeneProt, Inc. and Waters Corporation (NYSE:WAT - news) today announced the formation of a technology partnership that will result in an expansion of the proteomics capabilities that GeneProt plans to offer to the pharmaceutical industry through its new industrial-scale proteomics facility in the United States. Waters, through its wholly-owned subsidiary, Micromass U.K. Ltd., will purchase equity securities of GeneProt with a maximum value of US$10 million. At the same time, GeneProt will purchase approximately US$20 million of mass spectrometry equipment, related systems and services from Micromass.
We expect that these instruments, in combination with others, will comprise the largest number of mass spectrometers housed in any proteomics facility in the U.S. The companies also announced that they will collaborate on product development to advance the application of these instruments to industrial-scale proteomics, based on GeneProt's first six months of successful operations in Geneva, Switzerland.
Once construction is completed next to the company's North Brunswick headquarters, GeneProt's new industrial-scale proteomics discovery and development center will utilize a total of 45 new Micromass Q-Tof instruments. Of these, forty are advanced integrated Micromass CapLC(TM), Q-Tof Micro(TM) (capillary liquid chromatography, quadrapole time-of-flight mass spectrometry) systems. Shipments are planned for 2002 with the bulk of the instruments to be installed by mid-year.
John Nelson, Senior Vice President of Waters said, "This order is a testimony to the power of the integration of Waters' HPLC expertise and Micromass MS technology in the marketplace."
Two Micromass Q-Tof Micro mass spectrometers will also be installed in GeneProt's European facility. In addition, Waters Alliance HPLC systems will be installed in North Brunswick as they have been in Geneva.
"As we move forward to the completion of our U.S. facility, we are very pleased to continue our relationship with Waters Corp. and its affiliates as our technology partners," said Cedric Loiret-Bernal, M.D., GeneProt's Chief Executive Officer. "The addition of Micromass' leading mass spectrometry systems to our proprietary, integrated technology platform will contribute significantly to the productivity of our new center and help us further extend our leadership in proteomics," he continued. "We are confident in our strategy to identify, characterize, and synthesize naturally-occurring proteins with speed and accuracy through the use of industrial-scale data analysis and storage and massive parallel processing."
Robert Williams, Chairman of Micromass U.K. Ltd. noted, "Micromass aims to be the dominant provider of mass spectrometry solutions into the life science market through the development of innovative, application driven technologies. The selection of Micromass as a principal supplier for the new GeneProt facility in New Jersey both recognizes and validates that goal."
The North Brunswick center is expected to be fully operational in the second quarter of 2002 and will double GeneProt's capacity.
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