Harvard Bioscience Announces Collaboration with NextGen
HOLLISTON, Mass., May 9 /PRNewswire/ -- Harvard Bioscience Inc. (Nasdaq: HBIO) and NextGen Sciences Ltd. (Huntingdon, Cambridgeshire, United Kingdom), today announced a collaborative research and development agreement.
Harvard Bioscience focuses on developing tools to alleviate critical bottlenecks in the drug discovery process, particularly in the area of protein isolation and ADMET screening. As a result of this research agreement NextGen will develop new applications for the Harvard Bioscience protein purification products and intends to incorporate these novel technologies into the NextGen platforms at the end of the research phase.
Harvard Bioscience has built a portfolio of new technologies including sample purification for proteomics and genomics and is looking for opportunities to integrate these technologies into new solutions. "The collaboration between Harvard and NextGen is a perfect example of how we are looking to add value to and leverage the core technologies in which we hold strong proprietary positions." says David Green, President of Harvard Bioscience. "Through integration into key applications in drug discovery, high-throughput screening and ADME Tox, we are providing our customers with complete solutions. Working with the NextGen team provides Harvard Bioscience the opportunity to move into new applications in proteomics for which NextGen has considerable expertise"
"We are very pleased to announce this collaboration with Harvard Bioscience", Dr Kevin Auton, founder and chief executive of NextGen said, "We believe that no one company has all the technical knowledge, skills and expertise to fast-track the development of cutting edge products in the fields of protein expression, isolation and purification. Collaborative relationships with business and academic partners are key to the successful outcome for product development programs of this type. We are therefore delighted to integrate Harvard Bioscience's proprietary protein purification technology into our research. Harvard's unique technology will provide NextGen with access to revolutionary tools for the new products we are developing in genomics, transcriptomics and proteomics".
The statements made in this press release that are not statements of historical fact are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to statements about the Company's intention to leverage its core technologies, the Company's business strategy, the market demand and opportunity for the Company's products, and the Company's plans, objectives and intentions contained in this press release that are not historical facts. Other factors that may cause the Company's actual results to differ materially from those in the forward looking statements include the Company's failure to expand its product offering, to introduce new products or to commercialize new technologies or decreased demand for the Company's products due to changes in our customers needs, financial position, general economic outlook, or otherwise, as well as those set forth under the heading "Important Factors That May Affect Future Operating Results" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2000, as well as other risks described in the Company's public filings or factors, if any, of which the Company is not currently aware. The Company may not update these forward-looking statements, even though its situation may change in the future, unless it has obligations under the Federal securities laws to update and disclose material developments related to previously disclosed information.
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SOURCE Harvard Bioscience Inc.
CONTACT: Jim Warren, CFO, jwarren@harvardbioscience.com, or David Green, President, dgreen@harvardbioscience.com, or Chane Graziano, CEO, cgraziano@harvardbioscience.com, all of Harvard Bioscience, Inc./
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