Celera Signs Agreement to Acquire Minority Interest
in HuBit Genomix
ROCKVILLE, Md. & TOKYO--(BW HealthWire)--March 21, 2001--Celera Genomics (NYSE:CRA - news), an Applera
Corporation business, announced today that it has signed an agreement to acquire a minority interest in HuBit Genomix, Inc., an
emerging biotechnology company based in Japan. Financial terms of the transaction were not disclosed.
``This agreement represents an important opportunity for both companies as it should allow HuBit to expand its research and
development in analyzing genetic variation, potentially involving Celera as a business and scientific partner in these important
areas,'' said J. Craig Venter, Ph.D., Celera's president and chief scientific officer. ``HuBit's management team encompasses
some of the finest scientific and business leaders in Japan and we are pleased to be working with them.''
``We are very excited to be working with Celera, a company known for remarkable accomplishments and first class molecular
biologists and bioinformatic professionals. We believe that both Celera and HuBit share a similar spirit for speed and
innovation. This agreement should help us not only to promote our research and business activities, but also to enhance our
contribution to global genomic research advancements,'' said H. Kimura, Ph.D., HuBit's CEO.
About HuBit Genomix
HuBit Genomix, Inc. was founded as Medical Genome Systems, Inc. in April 2000 and capitalized through an investment from
CSK Venture Capital. HuBit is initially focused on the discovery and association of genes, particularly single nucleotide
polymorphisms, or SNPs, and disease, for use in the development of therapeutics and diagnostics. HuBit plans to provide its
biological information to pharmaceutical, biotechnology companies and research centers located in Japan and elsewhere.
About Celera
Applera Corporation, formerly PE Corporation, comprises two operating groups. The Celera Genomics Group, headquartered
in Rockville, intends to be the definitive source of genomic and related medical information. Celera has developed three
business units: the On-line Information Business, Discovery Sciences, and Discovery Services, all of which build upon Celera's
generation, integration, and analysis of biological information. Celera intends to enable therapeutic and diagnostic discoveries
both through its own application of its scientific capabilities and in partnership with pharmaceutical and biotechnology
companies. The Applied Biosystems Group (NYSE:ABI - news) develops and markets instrument-based systems, reagents,
software, and contract services to the life science industry and research community. Customers use these tools to analyze
nucleic acids (DNA and RNA) and proteins in order to make scientific discoveries, develop new pharmaceuticals, and conduct
standardized testing. Applied Biosystems is headquartered in Foster City, Calif., and reported sales of $1.4 billion during fiscal
2000. Information about Applera Corporation, including reports and other information filed by the company with the Securities
and Exchange Commission, is available on the World Wide Web at www.applera.com, or by telephoning 800/762-6923.
Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or
phrases such as ``believe,'' ``expect,'' and ``should,'' among others. These forward-looking statements are based on Applera
Corporation's current expectations. The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for such
forward-looking statements. In order to comply with the terms of the safe harbor, Applera Corporation notes that a variety of
factors could cause actual results and experience to differ materially from the anticipated results or other expectations
expressed in such forward-looking statements. The risks and uncertainties that may affect the operations, performance,
development, and results of Celera Genomics' businesses include but are not limited to (1) operating losses to date; (2) a
unique and expanding business plan; (3) uncertainty of revenue growth; (4) unproven use of genomics information to develop
products; (5) intense competition in the evolving genomics industry; (6) dependence on customers in and subject to the risks of
the pharmaceutical and biotechnology industries; (7) heavy reliance on strategic relationship with the Applied Biosystems
Group; (8) lengthy sales cycle; (9) dependence on the unique expertise of its scientific and management staff; (10) dependence
on computer hardware, software, and internet applications; (11) access to biological materials; (12) legal, ethical, and social
issues affecting demand for products; (13) disruptions caused by rapid growth of the business; (14) government regulation of its
products and services; (15) risks of future acquisitions; (16) uncertainty of outcome of stockholder litigation; and (17) other
factors that might be described from time to time in Applera Corporation's filings with the Securities and Exchange
Commission. |
