Deal with Japan's PSS
June 28 2002 - 10:32AM
UK Regulatory
RNS Number:9300X
Tepnel Life Sciences PLC
28 June 2002
PRESS RELEASE
For Further Information:
Tepnel Life Sciences 0161 946 2200
Ben Matzilevich, CEO
Gron Ffoulkes-Davies, Finance Director
HCC De Facto Group 020 7496 3300
David Dible / Mark Swallow
Tepnel Life Sciences ('Tepnel') Announces Agreement with
Japan's Precision Systems Science
Manchester, UK. 28 June 2002...Tepnel Life Sciences PLC (AIM: TED) announces
that it has entered into an agreement with the Japanese company Precision
Systems Science (PSS) for access to its Magtration(R) technology. This
technology uses magnetic beads to assist in the handling and separation of
biological molecules. As part of this agreement, Tepnel has paid an upfront fee
for access to the technology and PSS has taken an equity position in Tepnel,
subscribing to 1,414,393 new ordinary shares of Tepnel at 11.8p each. Tepnel
will pay PSS royalties on its recently launched T1000 Automated DNA Purification
System.
This agreement enables Tepnel to potentially develop significant new
applications for the T1000 instrument system including the purification of DNA
from plant cells and the isolation of RNA from a variety of cell types.
Ben Matzilivech commenting on today's agreement said "I am pleased that we have
concluded this agreement with Precision Science Systems as it will allow us
access to its complementary expertise in the handling and separation of
biological molecules using magnetic beads. This collaboration along with our
recent Far Eastern distribution agreement with Takara Biomedical, will further
strengthen Tepnel's competitive position in the rapidly growing global market
for automated DNA purification systems."
-ends-
Notes to Editors
Tepnel Life Sciences is a global biotechnology company with a "tripolar"
strategy focused on providing the biomedical industry with high-throughput
automated DNA purification systems, manual DNA purification kits and reagents,
as well as scientific services for nucleic acid purification, drug analysis,
genotyping and genetically modified foods (GMOs).
The Company was founded in 1992 to exploit DNA technology generated at UMIST
(University of Manchester Institute of Science and Technology) and is listed on
the AIM segment of the London Stock Exchange (AIM: TED).
www.tepnel.com
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