RESEARCH TRIANGLE PARK, N.C., June 19 /PRNewswire/ -- BioMachines Inc., a biotech company that develops, manufactures and sells advanced automation tools to accelerate drug discovery and development, today announced the signing of an exclusive distribution agreement with CapitalBio Corporation of Beijing, China. With the signing of this agreement, BioMachines has expanded its sales channel beyond North America and Europe and into China, Taiwan and Hong Kong.
"China is projected to be the 5th largest pharmaceutical market by 2010, growing from a total size of $6 billion in 2002 to $24 billion in 2010. This is driven by compelling economic growth, and is supported by a large and deep talent pool of life science researchers. We are focused on being a key part of that growing demand," said Tom Larrichio, BioMachines' Chief Executive Officer. "We are very pleased to have found a company like CapitalBio, that has a great breadth and knowledge of the industry and is well represented in Asia as a market leader," said Larrichio.
"We are very pleased that we will be representing BioMachines products in China and we are confident that there is a growing market in proteomics-based research and development," commented David Sun, Senior Vice President of Business development and Marketing at CapitalBio Corporation. "CapitalBio has developed a number of products in the proteomics field, such as protein chips and scanners, and BioMachines automated tools are very nice additions to our total solution offering."
About BioMachines Inc.
BioMachines Inc., a privately owned biotech company, provides the life sciences industry with proven solutions for drug discovery and development through advanced automation and proteomic research services. Its vision- enabled, small-liquid handling, high-precision instrument systems are designed to automate complex laboratory workflows. Current products and services include automating front-end sample preparation for MALDI (Matrix-assisted laser desorption/ionization) mass spectrometry analysis, pathogen detection device development, and Proteomic Services. BioMachines' instrumentation and consumable platform provides cost-effective, reliable and high-quality solutions that scale from discovery in the research laboratory to clinical drug development. BioMachines is headquartered in Research Triangle Park, North Carolina. For more information, please visit http://www.bio-machines.com .
CapitalBio is a leading life science Company that develops and commercializes a broad range of products, including biochip technology products, for drug discovery research, for genomics, proteomics, bio-safety testing and for clinical applications. Headquartered in Beijing, China, CapitalBio has rapidly evolved from a young innovative biochip developer into
a comprehensive life science entity. For more information, please visit http://www.capitalbio.com .