PerkinElmer, Inc. Announces Intent To Acquire Euroscreen Products S.A.

BOSTON--(BUSINESS WIRE)--PerkinElmer, Inc. (NYSE: PKI), a global technology leader in Health Sciences and Photonics, today announced it signed an agreement with Euroscreen S.A., entitling it to acquire Euroscreen S.A.’s majority owned subsidiary, Euroscreen Products S.A., in a cash transaction. Based in Gosselies, Belgium, Euroscreen Products is a leading provider of G protein-coupled receptor (GPCR) membranes, cell lines, and the AequoScreen™ aequorin-based cellular assay platform used in pharmaceutical and biotech drug discovery laboratories. The transaction is expected to be completed in the first quarter of 2007.

“This transaction would represent the next step in our strategy to build the most comprehensive offering in cellular screening and drug discovery reagent technologies,” said Gregory L. Summe, chairman and chief executive officer of PerkinElmer, Inc. “The AequoScreen platform would give PerkinElmer the ability to meet the growing demands of our pharmaceutical and biotechnology customers with a complete GPCR screening solution that improves performance and reduces workflow costs, while dramatically increasing lab productivity.”

Under the terms of the planned transaction, Euroscreen Products would transfer its portfolio of GPCR screening tools and its exclusive global license to aequorin technology, granted by the University of Georgia Research Foundation Inc., to PerkinElmer. Aequorin technology, based on a naturally occurring photoprotein, generates large, luminescent signals that result in higher quality data, while reducing the number of false positives in high throughput and ultra-high throughput screening environments. Improved data accuracy drives greater efficiency and reduced costs, making the AequoScreen platform a superior solution for GPCR screening over traditional fluorescence technologies.

“We are excited about the opportunity to work with PerkinElmer, sharing new ideas on product development and science,” said Dr. Jean Combalbert, CEO of Euroscreen S.A. “We expect the combination of the Euroscreen Products portfolio and PerkinElmer’s robust global distribution channels would accelerate the adoption of this exceptional screening technology by the world’s leading pharmaceutical and biotechnology laboratories. The sale of our products division would enable us to reinforce our strategy dramatically by funding our drug discovery and tailored screening service activities.”

This announcement builds upon other recent news from PerkinElmer related to GPCR and kinase assay development. Recently, the Company announced its agreement to purchase Evotec Technologies, which provides high content screening (HCS) technologies to pharmaceutical and biotechnology drug discovery labs. The addition of Evotec and Euroscreen Products would enable PerkinElmer to provide a wide variety of custom HCS solutions to drug discovery customers and strengthen the Company’s leadership position in cellular screening.

PerkinElmer’s current GPCR portfolio contains a number of the market’s most respected assay tool kits, including AlphaScreen® ERK, LANCE® and LANCE Ultra, which have broad potential for identifying cellular targets in a wide range of disease states including, hypertension, gastro-intestinal, and neurological disorders. The AequoScreen platform is particularly well suited for use with PerkinElmer instrumentation and assay kits to identify and classify cellular receptors in the discovery of new therapeutic compounds.

Factors Affecting Future Performance

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities. Words such as “believes,” “intends,” “anticipates,” “plans,” “expects,” “projects,” “forecasts,” “will” and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management’s current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) our failure to introduce new products in a timely manner; (2) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable; (3) our failure to protect adequately our intellectual property; (4) the loss of any of our licenses or licensed rights; (5) our ability to compete effectively; (6) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (7) our ability to produce an adequate quantity of products to meet our customers’ demands; (8) our failure to maintain compliance with applicable government regulations; (9) regulatory changes; (10) economic, political and other risks associated with foreign operations; (11) our ability to retain key personnel; (12) restrictions in our credit agreement; (13) our ability to realize the full value of our intangible assets; and (14) other factors which we describe under the caption “Risk Factors” in our most recent annual report on Form 10-K and in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Other Information

Health Sciences end markets include genetic screening, environmental, service, biopharma, and medical imaging. Photonics markets include sensors and specialty lighting.

PerkinElmer, Inc. is a global technology leader driving growth and innovation in Health Sciences and Photonics markets to improve the quality of life. The Company reported revenues of $1.5 billion in 2005, has 8,000 employees serving customers in more than 125 countries, and is a component of the S&P 500 Index. Additional information is available through www.perkinelmer.com or 1-877-PKI-NYSE.

Investor Relations: PerkinElmer, Inc. Steven Delahunt, 781-431-4258

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Business/Financial Media: PerkinElmer, Inc. Kevin Lorenc, 781-431-4231

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Trade Media: EuroRSCG Magnet Jerry Tolk, 212-367-6831 Jerry.Tolk@EuroRSCG.com

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