HOPKINTON, Mass., April 14 /PRNewswire-FirstCall/ -- Caliper Life Sciences, Inc. today announced that, as anticipated, it has entered into a new two-year multi-million dollar minimum purchase agreement with Amphora Discovery Corp. Under the new agreement, Amphora has agreed to purchase a minimum total dollar amount per year in LabChip products, with the majority of the yearly purchase commitment to be met through datapoint purchases. Amphora is a privately held pharmaceutical research company skilled in the science and art of pathway-based drug discovery. It uses more than 20 of Caliper's microfluidics-based screening systems to perform "high precision" screening against pharmaceutical drug target classes including kinases, proteases, phosphatases, ion channels and GPCRs.
"This new agreement with Amphora fits nicely into our strategic priority of increasing the aftermarket component of our revenue," said Kevin Hrusovsky, President and CEO of Caliper. "In addition, it validates the importance of LabChip technologies and restores Amphora as a major customer in 2005 and beyond. We are pleased to see Amphora's success identifying lead compounds with our technology and its strong commitment to efficiently address the top challenges confronting the pharmaceutical industry today."
"Caliper's microfluidics-based screening systems have enabled us to rapidly advance two of our kinase inhibitors into preclinical development," said Peter Savas, Chairman of Amphora's Board. "Our industrialized approach and the quality of our data have attracted pharmaceutical partners including Sanofi-Aventis and Johnson & Johnson Product Research & Development, L.L.C. We are excited about our future and happy to be working closely with Caliper to ensure our mutual continued success."
About Caliper Life Sciences
Caliper Life Sciences uses its advanced liquid handling and LabChip(R) technologies to create leading edge tools that accelerate drug discovery, enable diagnosis of disease and facilitate scientific research. Caliper headquarters are located in Hopkinton, Massachusetts, with R&D, operations and manufacturing facilities for LabChip devices in Mountain View, California, and direct sales, service and applications support throughout the world. Caliper customers and partners include many of the largest pharmaceutical, biotechnology, and life sciences companies. For more information, please visit Caliper's web site at http://www.caliperls.com/.
The statements in this press release regarding future sales of products to Amphora and increasing the aftermarket component of Caliper's revenue are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act as amended. Such statements are subject to risks and uncertainties that could cause actual results to differ materially for Caliper from those projected. These risk factors are discussed under the caption "Factors Affecting Operating Results" in Caliper's Form 10-K for the year ended December 31, 2004, filed with the Securities and Exchange Commission on March 16, 2005. Caliper expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Caliper's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based.
NOTE: LabChip is a registered trademark of Caliper Life Sciences, Inc.
Caliper Life Sciences, Inc.