NAPA, Calif., Dec. 1 /PRNewswire/ -- Integrated Biosystems, Inc. (IBI), the world's leading supplier of controlled freeze-thaw technology to the biopharmaceutical industry, today announced that demand for its products is at the highest level ever. In total the outstanding orders are valued at over $16 million -- expected to rise to $20 million by year-end -- and are scheduled for delivery mostly in 2004. The strong position results from several important orders recently received for the traditional CryoFin stainless steel vessel product line. In addition, the company has received its first orders for the new Celsius products, incorporating disposable containers, which are currently being launched.
John H. Brown, President and Chief Executive Officer of Integrated Biosystems, Inc. commented, "I am very pleased indeed to be able to announce this high level of activity in new orders. IBI has grown steadily since its inception but we are now entering a new phase in the rapid growth of the company. We are certainly well positioned for continued success in 2004 and beyond."
Integrated Biosystems built its reputation on patented controlled freeze-thaw technology for holding, storing and shipping biopharmaceutical materials. The first product line -- stainless steel vessels sold under the CryoFin brand -- was introduced in 1998. The company is now introducing its Celsius product line which offers similar technology available in disposable, flexible containers. Even as the new disposable product is launched, demand for the vessels continues to experience strong growth. There are advantages to both products and biopharmaceutical manufacturers can now choose which one best suits their manufacturing process. In fact, it is anticipated that some companies will buy both systems depending on which products they are manufacturing and on the requirements of their various operations.
Integrated Biosystems is now firmly established as a leading supplier to the biopharmaceutical manufacturing industry. IBI's equipment is sold to seven of the top nine biopharmaceutical manufacturers and it is used in the manufacturing of six of the top eight biopharmaceutical products on the market today. Manufacturing volume for biopharmaceuticals is expected to grow six-fold by 2006 and the FDA is expected to approve an increasing number of products for physicians to prescribe. At the same time more and more biopharmaceuticals are expected to exceed $1 billion in annual sales -- an important benchmark in the pharmaceutical industry.
"These industry indicators bode well for increasing sales of Integrated Biosystems' products," said Albert Narbonne, Vice President of Sales. "And the current demand for our products underscores the value that IBI is bringing to the market."
About Integrated Biosystems, Inc.
Integrated Biosystems, Inc. (IBI) is the world's leading supplier of patented technology and equipment for the controlled freezing, thawing and frozen storage of biopharmaceutical intermediates and final bulk drug substances. IBI's product portfolio includes freeze-thaw systems and related handling equipment for R&D, Pilot and Full-Scale Manufacturing. The technology has been used for over 10 years at leading Biotech and Biopharma contract manufacturers and is currently an integral part of the manufacture of a variety of leading biopharmaceuticals.
IBI is a private company headquartered in Napa, CA with European facilities in Fribourg (Switzerland) and Aubagne (France) and Engineering and Manufacturing operations in Springfield, MO.
For further information contact Richard Eagling, Vice-President Marketing and General Manager, Europe (firstname.lastname@example.org) or go to http://www.integratedbio.com/.
Integrated Biosystems, Inc