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October 12, 1999 CALIPER TECHNOLOGIES CORP (CLPR) S-1 Filing (SEC form S1) We are a leader in lab-on-a-chip technologies. We develop, manufacture and sell our proprietary LabChip systems to pharmaceutical and other companies. We believe our LabChip systems can assemble the power and reduce the size of entire laboratories full of equipment and people. Our LabChip systems miniaturize, integrate and automate many laboratory processes, and put them on a chip that can fit in the palm of a child's hand. Each chip contains a network of microscopic channels through which fluids and chemicals are moved, using electricity or pressure, in order to perform experiments. The chips are the key components of our LabChip systems, which also include reagents as well as instruments and software that together control and read the chips. We believe our LabChip systems have the potential to revolutionize experimentation in a wide range of industries by enabling individuals and organizations to perform laboratory experiments at a speed, cost and scale previously unattainable. We believe that we are the first company to sell and deliver lab-on-a-chip products to customers. During 1999, we introduced our first two LabChip systems: - Personal Laboratory System. In collaboration with Hewlett-Packard, we launched the HP 2100 Bioanalyzer system, our first personal laboratory system for use by individual laboratory researchers. - High Throughput System. We have sold and delivered initial versions of our high throughput systems for drug screening to Amgen and Hoffmann-La Roche, and have contracted to deliver a high throughput system to Eli Lilly. The pharmaceutical, agriculture, clinical diagnostics and chemical industries, among others, rely on laboratory experimentation to obtain important information that can be used to discover and develop new products. We are initially focusing on the pharmaceutical industry, where industry experts believe more than $30 billion will be spent on research and development in the year 2000. Pharmaceutical companies have realized that to stay competitive and to meet their goals for growth, they will have to increase significantly the number of new drugs they introduce each year. To achieve this, pharmaceutical companies have found that they must engage in experimentation on a massive scale. These companies, however, still rely on manual, multi-step experiments that use tools such as test tubes, beakers and large pieces of equipment that utilize decades-old technology. These tools and processes are expensive and labor-intensive, rendering them inadequate to handle the accelerating needs for greater research and development productivity. We believe that our LabChip systems represent a revolutionary advance in laboratory experimentation. Our LabChip systems have the potential to expand the capabilities and improve the productivity of individual researchers and, on an institutional level, enable pharmaceutical companies to perform the massive scale experimentation they need to advance the drug discovery process. As a result, our LabChip technology has the potential to reduce the time it takes to discover and commercialize new drugs. Our LabChip systems miniaturize, integrate and automate fluidic experimentation to an unprecedented degree. Because we have great flexibility in channel design and can exert split-second computer control over fluid flow, we have the ability to create chips for a multitude of experiments, or applications. We believe the key benefits of our LabChip systems are: - High Speed. Our LabChip systems accelerate experiments as much as 10-fold or more, depending on the application. - Reduced Cost. Our LabChip systems use only a small fraction of the normal amount of expensive reagents, as little as 1/100,000th in some cases, and also reduce labor involved in each experiment. - Expanded Individual Researcher Capability. Because our LabChip systems can collapse a multi-step, complex experiment into one step, individual researchers can perform experiments previously outside their areas of expertise. - Improved Data Accuracy. Our LabChip systems generally produce more accurate and consistent data by reducing human error and the variability caused by the use of multiple instruments. - Improved Enterprise-Wide Productivity. We believe our LabChip systems can improve data quality to the point where researchers can rely on data generated outside their laboratory or organization, thereby improving enterprise-wide productivity. Our objective is to be the leading lab-on-a-chip company. Key elements of our strategy to achieve this objective are as follows: - Focus on the pharmaceutical industry first - Rapidly build our installed customer base - Leverage our installed customer base by expanding the menu of chip applications - Generate recurring revenue from high-value chips - Build a substantial intellectual property estate - Maintain leadership in chip technology and manufacturing - Opportunistically penetrate new industries We are currently commercializing our LabChip systems through a combination of a major commercial partnership and direct sales. Hewlett-Packard is selling our first personal laboratory system, the HP 2100 Bioanalyzer system, as part of a broad strategic alliance we established in 1998. We are selling our high throughput systems directly to large pharmaceutical companies through our technology access program. In addition, we are selling screening services directly through our value added screening collaborations program. We have made substantial investments in lab-on-a-chip research since our inception, and today we are supplementing these efforts with applied product development efforts. As of September 30, 1999, we owned or held licenses to 34 issued U.S. patents and 120 pending U.S. patent applications. | ||||||||||||
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