2004 Press Releases
Molecular Devices Introduces SpectraMax® M5 Multi-detection Microplate Reader System.
Sunnyvale, Calif., October 25, 2004 – Molecular Devices Corporation (Nasdaq: MDCC), today announced the introduction of SpectraMax® M5, a five-mode multi-detection microplate reader system, and the latest addition to the company’s popular SpectraMax product line. The system has primary applications for fluorescence intensity, absorbance, luminescence, Time-Resolved Fluorescence (TRF) and Fluorescence Polarization (FP) assays, and will debut today at Neuroscience 2004 in San Diego, California. The SpectraMax M5 will allow life science and drug discovery researchers to increase their productivity by giving them multiple detection modes in one powerful, compact instrument.
The SpectraMax M5 features a triple-mode cuvette port and a single-read command capability for experiments requiring multiple detection parameters. The system also gives users the flexibility to choose wavelengths between 200 nm and 1000 nm. The SpectraMax M5 uses standard microplates to read endpoint, kinetic, spectrum, multi-wavelength and well-area scanning. For life sciences research, the system is well suited for ELISA, nucleic acid, protein quantitation, enzymatic, cell viability and proliferation assays. Kinase, reporter gene, FRET and other homogeneous and heterogeneous assays can also be run.
Commenting on the launch, Stephen J. Oldfield, Ph.D., Molecular Devices’ Vice President of Worldwide Marketing, stated, “The SpectraMax M5 has optical performance which is comparable to our dedicated, top-of-the-line readers for all five of its primary detection modes. With its broad assay capability, this system can be used as a research tool to optimize assays in early ADME or quality control, or used as a screening instrument.” He further stated, “When the SpectraMax M5 is integrated with our SynchroMax™ ET plate handling robot, up to 320 plates can be run without interruption, with multiple assay parameters on each plate.”
SpectraMax M5 utilizes SoftMax® Pro Enterprise software, the industry-leading data acquisition and analysis software with FDA 21 CFR Part 11 compliance tools.
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company’s systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. The Company’s solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
This press release contains "forward-looking" statements, including statements related to the prospects for or potential customer use of the SpectraMax® M5. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Molecular Devices Corporation to differ materially from those indicated by these forward-looking statements, including, among others, risks related to the development of new products and other risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2003, as amended, and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2004. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
Molecular Devices Introducecs IMAP Substrate Finder for Tyrosine Kinases.
Sunnyvale, Calif., September 13, 2004 – Molecular Devices Corporation (Nasdaq: MDCC), today announced the introduction of its IMAP Substrate Finder for Tyrosine Kinases, following the release of its initial Substrate Finder for Serine/Threonine Kinases in March. Together, they provide substrates for the two categories of kinases that make up the human kinome. The Substrate Finders for Tyrosine and Serine/Threonine Kinases are based on Molecular Devices’ IMAP platform, which provides advanced tools for assay development and high throughput screening (HTS) of kinases, one of the most important target classes in drug discovery today. The development of successful drugs that target kinases, such as Gleevac and Iressa—which selectively target cancer cells but leave healthy cells unharmed—is being aggressively pursued by pharmaceutical and biotechnology companies, who are looking for quicker, easier solutions for targeting kinase inhibitors.
Kinases are important because they play a critical role in the transmission of signals, both within and between cells; any interference with their function can lead to adverse effects. It is estimated that kinase malfunction contributes to more than 400 diseases, including cancer, inflammatory disorders like rheumatoid arthritis, diabetes, cardiovascular disease and neurological disorders. One of the major roadblocks facing pharmaceutical and biotechnology companies searching for potential drug targets for these diseases is finding a suitable substrate. The IMAP Substrate Finder accelerates the difficult task of finding new substrates by providing a quick, sensitive, yet inexpensive method to screen dozens of substrates in a couple of hours versus days or weeks.
“Kinase inhibitors are important drug targets that are screened at all major pharmaceutical companies. They represent a new generation of drugs that target the underlying molecular processes of the cell and are in a position to radically change the future treatments for cancer and other diseases,” stated Stephen Oldfield, Ph.D. and Vice President of Worldwide Marketing at Molecular Devices. “Molecular Devices' IMAP technology continues to meet the growing demands of high throughput screening, with its stable signal, precision, inherent flexibility and the ease in which it is incorporated into all kinase screening. It is rapidly becoming the preferred assay to screen for kinase activity. With the IMAP Substrate Finder, the pace of assay development and screening for unique or proprietary kinases is accelerated with the same ease of miniaturization and low cost-per-well that IMAP users have come to expect.”
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company’s systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. The Company’s solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
This press release contains "forward-looking" statements, including statements related to the prospects for or potential customer use of the IMAP“ Substrate Finder. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Molecular Devices Corporation to differ materially from those indicated by these forward-looking statements, including, among others, risks related to the development of new products and other risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2003, as amended, and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2004. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
Molecular Devices Begins Shipping SynchroMax™ ET Plate Handling Robot.
Sunnyvale, Calif., July 15, 2004 – Molecular Devices Corporation (Nasdaq: MDCC), today announced the first shipment of the SynchroMax ET Plate Handling Robot—the latest addition to its line of microplate readers and liquid handling systems. The SynchroMax ET Plate Handler provides walk-away automation for ELISA workstations and cell-based screening units which include a Molecular Devices’ SpectraMax® or Gemini microplate reader, AquaMax® dispenser or Embla washer. ELISA and cell-based screening assays make up the largest application segments for life sciences research. With the SynchroMax ET, researchers can run up to 320 microplates uninterrupted in 96-, 384- or 1536-well formats, improving efficiency and freeing up valuable research time.
A complete, automated workstation can be purchased directly from Molecular Devices, eliminating the need to combine instrumentation from multiple vendors. The configuration and installation of the assay workstation by qualified Molecular Devices onsite application scientists provides optimal data quality and throughput.
Molecular Devices’ SpectraMax multimode detectors are a standard in academic, biotech and pharmaceutical industry laboratories for life sciences research. Together with SpectraTest™ instrument validation tools and SoftMax® Pro software data analysis and compliance capabilities, migrating automated assay workstations to the GLP/cGMP and FDA 21 CFR Part 11 environment can be achieved quickly.
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company’s systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. The Company’s solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
This press release contains "forward-looking" statements, including statements related to the prospects for or potential customer use of the SynchroMax™ ET Plate Handling Robot. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Molecular Devices Corporation to differ materially from those indicated by these forward-looking statements, including, among others, risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2003, as amended, and its quarterly report on Form 10-Q for the quarter ended March 31, 2004. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
Molecular Devices Announces Completion of its Acquisition of Axon Instruments
Sunnyvale, Calif., July 1, 2004 – Molecular Devices Corporation (Nasdaq: MDCC), today announced that it has completed its acquisition of Axon Instruments, Inc. The stockholders of both companies have approved the transaction, and all regulatory requirements and other conditions have been satisfied. Pursuant to the merger agreement announced on March 21, 2004, former Axon stockholders are receiving 0.00734 of a share of Molecular Devices common stock and $0.1359 cash for each share of Axon common stock. Molecular Devices is issuing approximately 3.6 million shares of its common stock and paying approximately $68 million of cash in exchange for all of the outstanding shares of Axon. Molecular Devices also assumed employee options to acquire approximately 536,000 shares of Molecular Devices common stock, as well as other options to acquire approximately 38,000 shares of Molecular Devices common stock and approximately $700,000 in cash. As a result of the acquisition, Molecular Devices received approximately $26 million in cash that had been on the balance sheet of Axon. The merger will be accounted for using the purchase method.
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading developer of high-performance, bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. Molecular Devices’ systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug technologies that integrate its expertise in engineering, molecular and cell biology, and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
This press release contains "forward-looking" statements, including statements related to the success of the acquisition and potential future revenues, expense synergies and earnings. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. The success of the acquisition and future operating results of Molecular Devices may differ materially from the results discussed or forecasted in the forward-looking statements due to factors that include, but are not limited to, risks associated with acquisitions, such as the potential inability to realize the expected benefits and synergies of the transaction, risks related to future opportunities and plans for the combined company, potential difficulties in the assimilation of operations, strategies, technologies and products of the acquired company, the risk of loss of key personnel of the acquired company and the risk of diversion of management’s attention from other business concerns, and general business risks including, among others, risks detailed from time to time in Molecular Devices’ SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2003, as amended, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2004, and its Registration Statement on Form S-4 (Registration No. 333-114934), as amended. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
Molecular Devices Introduces FLIPRTETRA Screening System with Simultaneous 1536 Liquid Transfer
Sunnyvale, Calif., June 1, 2004 – Molecular Devices Corporation (Nasdaq: MDCC), today announced the introduction of FLIPRTETRA the first system that enables researchers to significantly increase throughput of cell-based assays by measuring 1536 kinetic measurements simultaneously.
The FLIPRTETRA, which debuts today at Molecular Devices' Drug Discovery Conference in Berkeley, California, is the only microplate detection system that simultaneously transfers liquid to 1536-well microplates, significantly reducing screening time and reagent consumption. This entirely new, modular system also offers traditional 96- and 384-well fluidics, easily convertible by the user within minutes, providing a seamless transition between higher-volume assays to those that require sub-microliter volume additions. FLIPRTETRA is also the first FLIPR® system to offer an expanded set of excitation wavelengths, significantly broadening its use beyond traditional calcium mobilization and membrane potential assays.
"FLIPR is the most widely-used screening system for GPCR analysis," stated Michael L. Biros, Marketing Director for Drug Discovery Instruments at Molecular Devices."With FLIPR Tetra, researchers can now increase the throughput and reduce the cost of their calcium mobilization and membrane potential assays even more—screening over 3,000 kinetic assays every six minutes using a few thousand cells per assay."
Commenting on the launch of the FLIPRTETRA, Stephen J. Oldfield, Ph.D., Molecular Devices" Vice President of Worldwide Marketing, stated, "Development of FLIPRTETRA was guided by senior-level drug discovery managers striving to reduce facilities and screening costs, as well as thousands of FLIPR users looking to improve ease-of-use and robustness. Oldfield further noted, "The FLIPRTETRA brings the multi-wavelength capability that our FlexStation® users have enjoyed to a high-throughput platform, paving the way for multi-wavelength applications. This new instrument platform also extends the user base for our growing family of reagent kits, including Calcium 3 and membrane potential kits."
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company's systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. The Company's solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
This press release contains "forward-looking" statements, including statements related to the prospects for or potential customer use of the FLIPR Tetra system. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Molecular Devices Corporation to differ materially from those indicated by these forward-looking statements, including, among others, risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2003, as amended, and its quarterly report on Form 10-Q for the quarter ended March 31, 2004. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
Molecular Devices Corporation Opens Center of Excellence in Pennsylvania
Molecular Devices Corporation opened its “Center of Excellence” in Downingtown, Pennsylvania on May 6, 2004. Located at the companies’ Universal Imaging Corporation facility, the center features fully-equipped laboratories and training classrooms to support demonstrations and in-depth tutorials on Molecular Devices’ broad range of instruments, software and reagents for the Drug Discovery and Life Science communities. To inaugurate the center, the company held an Open House and full day of seminars on April 29th, 2004. Details are at www.moleculardevices.com.
"The opening of this facility, within easy driving distance from many of our pharmaceutical and university-based customers, represents a new level of support and convenience" stated Stephen J. Oldfield, VP of Worldwide Marketing for Molecular Devices. "We are delighted to bring the training and demonstration capability that customers have enjoyed in our California headquarters to the East Coast.”
Commenting on the opening, Dr. Jeff Stuckey, General Manager of Universal Imaging stated, "The addition of the laboratory and staff to support live-cell assays in our Downingtown facility compliments our training classrooms, which have previously served our MetaMorph® users. Now we can fully support customers of the Discovery-1™ high content imaging system, as well as Molecular Devices’ other cell-based assay instruments, FLIPR® and FlexStation®.
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company's systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. The Company's solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
This press release contains "forward-looking" statements. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Molecular Devices Corporation to differ materially from those indicated by these forward-looking statements, including, among others, risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2002 and its quarterly report on Form 10-Q for the quarter ended September 30, 2003. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
Molecular Devices Introduces the IMAP® Substrate Finder
Sunnyvale, Calif., March 29, 2004 – Molecular Devices Corporation (Nasdaq: MDCC), a leader in innovative solutions for drug discovery and life sciences research, today announced the launch of the latest addition to its IMAP Platform, the IMAP Substrate Finder. The IMAP Platform provides advanced tools for successful assay development and high throughput screening (HTS) of kinases, one of the most important target classes in drug discovery today, as well as for phosphatases and phosphodiesterases.
Assay development is the major roadblock to HTS, and one of the largest barriers to developing an assay for a novel kinase target is finding a suitable substrate. The IMAP Substrate Finder accelerates the difficult task of finding new substrates for these unique or proprietary kinases. The IMAP Substrate Finder provides a quick, sensitive, yet inexpensive method to screen dozens of substrates for new kinases in a couple of hours.
Molecular Devices’ IMAP technology is rapidly becoming the established assay format to screen kinase activity because it can be used in all regions of the human kinome. The IMAP Binding Systems and the IMAP Substrate Finder enable the end user to quickly develop assays for uncommon or proprietary enzymes with the same ease of miniaturization and low cost-per-well researchers have come to expect when using IMAP. Molecular Devices also offers twenty-three specific IMAP kits that provide a turnkey solution to evaluate and test the flexibility of the IMAP Platform and smoothly transition into high-throughput screening.
“Phosphatases and kinases are important drug targets that are screened at all major pharmaceutical companies. With the IMAP Substrate Finder, the length of time spent in assay development is reduced dramatically, allowing companies to realize cost-savings and increased productivity in their drug discovery process,” stated Stephen J. Oldfield, Ph.D. and Vice President of Worldwide Marketing at Molecular Devices. “And we believe that our proprietary IMAP technology, with its ease of use, stable signal and inherent flexibility, is ideal for the rigorous demands of high-throughput screening.”
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company’s systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. The Company’s solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
This press release contains "forward-looking" statements, including statements related to the prospects for or potential customer use of the IMAP Platform and IMAP Substrate Finder. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Molecular Devices Corporation to differ materially from those indicated by these forward-looking statements, including, among others, risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2003. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
Molecular Devices Announces Definitive Agreement to Acquire Axon Instruments
Sunnyvale, Calif., March 21, 2004 – Molecular Devices Corporation (Nasdaq: MDCC), today announced that it has entered into a definitive agreement to acquire Axon Instruments, Inc., (ASX:AXN.AX) for approximately U.S. $70 million in cash and approximately U.S. $70 million in Molecular Devices common stock (based on a current average stock price). In addition, Molecular Devices will assume Axon’s approximately U.S. $29 million in cash and marketable securities. This strategic transaction would expand Molecular Devices’ product portfolio with systems for cellular neurosciences and genomics and combine complementary product lines in the fast-growing areas of high throughput imaging and electrophysiology. Among the expected benefits of the acquisition are product development synergies and improved distribution of Axon’s products through Molecular Devices’ worldwide sales and marketing organization.
Established in 1983, Axon is a pioneer in the field of electrophysiology, the preferred method for studying ion channels, an area of significant interest to pharmaceutical companies and life sciences researchers. Axon’s products for electrophysiology address a wide range of customer needs, from lower-throughput research tools to the PatchXpress system for automated ion channel analysis. Axon also offers a popular line of instruments for scanning DNA and protein arrays and the ImageXpress system for high throughput biology applications. Axon achieved revenues of U.S. $33.5 million in 2003 and was profitable on both an operating and a net income basis. Axon employs 128 people, primarily in its Union City, California headquarters.
Commenting on the transaction, Dr. Joseph Keegan, President and Chief Executive Officer of Molecular Devices, said, “This acquisition is an exciting opportunity for Molecular Devices to broaden our footprint in our core drug discovery and life sciences markets and further strengthen our technology base. Both Molecular Devices and Axon possess world-class engineering and longstanding track records for delivering innovative products. Together, we would have an exceptional capability to provide enabling technology in areas of great importance to pharmaceutical and life sciences customers, including genomics, imaging, and the screening of GPCRs, kinases and ion channels.”
Dr. Alan Finkel, Chief Executive Officer of Axon, added, “Molecular Devices’ technological expertise, market presence, and excellent reputation make it an ideal partner for Axon. This combination would enhance the visibility of Axon’s products and accelerate the development of innovative new products, particularly in the areas of imaging and ion channel screening.” After the closing of the transaction, it is anticipated that Dr. Finkel will become Vice President and Chief Technology Officer of Molecular Devices, reporting to Dr. Keegan, who will remain President and Chief Executive Officer. As previously announced, Geoffrey Powell will retire from the position of President of Axon after the closing of the transaction.
Under the terms of the transaction, each share of Axon common stock would be converted into the right to receive U.S. $0.1359 in cash and 0.00734 of a share of Molecular Devices common stock. A substantial portion of the equity held in Axon is traded on the Australian Stock Exchange (ASX) in CUFS; each CUFS holder would also receive U.S. $0.1359 in cash and 0.00734 of a share of Molecular Devices common stock for each share of Axon common stock subject to a CUFS. Holders of options, other than those issued under Axon’s employee option plans, would receive cash and shares of Molecular Devices common stock in the same amounts as they would have received had they exercised their options immediately prior to the effective date of the acquisition, net of the option exercise price. Molecular Devices would also assume outstanding options to purchase Axon common stock issued under Axon’s employee option plans, which would convert into options to purchase common stock of Molecular Devices.
The transaction is subject to customary closing conditions, including approval of the transaction by the stockholders of Molecular Devices and the shareholders of Axon, Hart-Scott-Rodino clearance and the effectiveness of a registration statement with the Securities and Exchange Commission. If the transaction closes by the end of the second quarter of 2004, Molecular Devices would anticipate increasing its revenue guidance for the second half of 2004 by $20 million, bringing it to a range of $145 million to $155 million for the full year. Molecular Devices also expects that it would realize $4 million to $5 million in expense synergies on an annualized basis. The transaction is expected to be neutral to earnings per share guidance for 2004 and Molecular Devices anticipates maintaining its current EPS guidance of $0.65 to $0.75 for the year. While Molecular Devices has not established guidance for 2005, the transaction is expected to be accretive to the EPS generated by Molecular Devices on a stand-alone basis in 2005.
Conference Call Information
Molecular Devices will host a conference call on Monday, March 22 at 8:00 a.m. PST (11:00 a.m. EST). Interested parties can participate in the call by dialing 800-967-7141 (domestic) or 719-457-2630 (international). A taped replay of this call will be available through April 2, 2004. Replay dial-in numbers are 888-203-1112 (domestic) and 719-457-0820 (international) and the access code for the replay is 583884. Investors can also access a live web-cast of the call through a link posted on the investor page on Molecular Devices’ website (www.moleculardevices.com). A replay of the web-cast will remain at this location through April 2, 2004.
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading developer of high-performance, bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. Molecular Devices’ systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug technologies that integrate its expertise in engineering, molecular and cell biology, and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
About Axon Instruments, Inc.
Axon Instruments, Inc., (www.axon.com) produces a broad spectrum of instrumentation and software for cellular neurosciences, genomics, and cell-based screening. In cellular neurosciences and genomics, Axon is widely recognized as one of the world's pre-eminent manufacturers of drug discovery instrumentation. The company's goal is to produce a range of superior yet affordable instrument and software systems for drug discovery aimed at the pharmaceutical industry, biotechnology companies, and academic researchers. Founded in 1983 and located in Union City, California and Melbourne, Australia, Axon Instruments is a California corporation listed on the Australian Stock Exchange (symbol: AXN.AX).
Forward-Looking Statements
This press release contains "forward-looking" statements, including statements related to the success of the acquisition and potential future revenues, expense synergies and earnings. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. The success of the acquisition and future operating results of Molecular Devices may differ materially from the results discussed or forecasted in the forward-looking statements due to factors that include, but are not limited to, risks associated with acquisitions, such as the potential inability to realize the expected benefits and synergies of the transaction, risks related to future opportunities and plans for the combined company, potential difficulties in the assimilation of operations, strategies, technologies and products of the acquired company, the risk of loss of key personnel of the acquired company and the risk of diversion of management attention from other business concerns, and general business risks including, among others, risks detailed from time to time in Molecular Devices’ SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2003. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
Additional Information and Where to Find It
Molecular Devices Corporation plans to file a Registration Statement on SEC Form S-4 in connection with the merger, and Molecular Devices and Axon expect to mail a Joint Proxy Statement/Prospectus to stockholders of Molecular Devices and shareholders of Axon containing information about the merger. Investors and security holders are urged to read the Registration Statement and the Joint Proxy Statement/Prospectus carefully when they are available. The Registration Statement and the Joint Proxy Statement/Prospectus will contain important information about Molecular Devices, Axon the merger and related matters. Investors and security holders will be able to obtain free copies of these documents through the website maintained by the U.S. Securities and Exchange Commission at http://www.sec.gov. Free copies of the Joint Proxy Statement/Prospectus and these other documents may also be obtained from Molecular Devices by directing a request through the Investors portion of Molecular Devices’ website at www.moleculardevices.com or by mail to Molecular Devices Corporation, 1311 Orleans Drive, Sunnyvale, California, 94089, attention: Investor Relations, telephone: (408) 747-3533.
In addition to the Registration Statement and the Joint Proxy Statement/Prospectus, Molecular Devices files annual, quarterly and special reports, proxy statements and other information with the Securities and Exchange Commission. You may read and copy any reports, statements or other information filed by Molecular Devices at the SEC public reference room at 450 Fifth Street, N.W., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. Molecular Devices’ filings with the Commission are also available to the public from commercial document-retrieval services and at the website maintained by the Commission at http://www.sec.gov.
Interests of Certain Persons in the Merger
Molecular Devices will solicit proxies from Molecular Devices’ stockholders in favor of the issuance of shares of Molecular Devices’ common stock in the merger. The directors and executive officers of Molecular Devices and the directors and executive officers of Axon may be deemed to be participants in Molecular Devices’ solicitation of proxies. Certain executive officers and directors of Axon have interests in the merger that may differ from the interests of stockholders generally. These interests will be described in the Joint Proxy Statement/Prospectus when it becomes available.
Molecular Devices Introduces Integrated Microplate Washer and Four-fluid Dispenser
Sunnyvale, Calif., February 12, 2004 – Molecular Devices Corporation (Nasdaq: MDCC) today announced the introduction of the AquaMax® DW4 liquid handling system to their expanding line of liquid handling products. The system integrates four-fluid dispensing and washing into one compact instrument. The AquaMax DW4 is the only system to handle 1536-well washing, as well as 96- and 384-well low-volume formats. Developed for life scientists and drug discovery researchers, the system provides better results with adherent and non-adherent cell lines and beads, and improved productivity over current dispensers. Windows®-compatible software gives the user the flexibility to easily program multiple dispense and wash procedures.
Commenting on the introduction, Dr. Stephen J. Oldfield, Vice President of Worldwide Marketing at Molecular Devices stated, "ELISAs, kinase, phosphatase, and GPCR-type assays that require washing and multiple dispensing steps can now be done on one compact unit—there is no need for multiple instruments. The small footprint saves valuable space in the lab and the system's low-volume dispense capability saves in costly reagent usage—for 384-well low-volume microplates, dispensing has been optimized down to 0.5 ml. Furthermore, the user can easily expand throughput capabilities by upgrading from 96-well through 1536-well in one system."
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About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company’s systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. The Company’s solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
This press release contains "forward-looking" statements, including statements related to the prospects for or potential customer use of the AquaMax® DW4 liquid handling system. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Molecular Devices Corporation to differ materially from those indicated by these forward-looking statements, including, among others, risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2002 and its quarterly report on Form 10-Q for the quarter ended September 30, 2003. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements.
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