Donaldson Company and SurModics Announce Strategic Marketing and Distribution Relationship With Corning Life Sciences
11 Maio 2006 - 5:00PM
PR Newswire (US)
MINNEAPOLIS, May 11 /PRNewswire-FirstCall/ -- Donaldson Company,
Inc. (NYSE:DCI) and SurModics, Inc. (NASDAQ:SRDX) today announced a
strategic marketing and distribution agreement with Corning
Incorporated (NYSE:GLW), through which Corning Life Sciences will
provide worldwide marketing and distribution of nanofiber cell
culture products for in vitro (laboratory based) cell culture
research and drug discovery applications. The distribution
agreement is intended to bring the SurModics-Donaldson jointly
developed nanofiber products to customers more quickly by taking
advantage of Corning Life Sciences' market leading position in
plastic and glass labware for use in cell culture and drug
discovery applications. Evaluations by multiple customers have
demonstrated that the Ultra-Web(TM) Synthetic ECM (extracellular
matrix) products mimic cell growth conditions that more closely
resemble those found in the body (in vivo), leading to improved
outcomes in cell culture, cell-based bioassays and other in vitro
cell-related applications. "Corning Life Sciences is an outstanding
partner to market and distribute the Ultra-Web Synthetic ECM
technology into the cell culture and drug discovery marketplace,"
said Bruce Barclay, President and CEO of SurModics. "Corning Life
Sciences' market leadership position will help accelerate the
market adoption and penetration of this revolutionary technology.
We are excited about working closely with Corning Life Sciences to
capitalize on the full potential of this platform technology." "The
Ultra-Web Synthetic extracellular matrix technology is a
breakthrough synthetic technology and fits well with our growth
vision for cell culture and drug discovery applications," said Mark
Beck, Division Vice President and Deputy General Manager of Corning
Life Sciences. "This agreement with SurModics and Donaldson is
consistent with our commitment to bring the best technology in the
right product formats to our customers." Donaldson and SurModics
formed a joint development relationship in May 2005, combining
Donaldson's nanofiber technology and SurModics' surface
modification technology to create synthetic nanofibrillar cell
culture products. Donaldson and SurModics recently introduced the
first jointly developed product as a cell culture insert based on
the Ultra-Web Synthetic ECM technology. Moving forward, all three
companies will continue to jointly develop a platform of products
based on the technology. In collaboration with the inventor, Dr.
Melvin Schindler, Department of Biochemistry and Molecular Biology,
Michigan State University, and Dr. Sally Meiners of the Robert Wood
Johnson Medical School of Piscataway, New Jersey, Donaldson and
SurModics have demonstrated that the Ultra-Web technology provides
enhanced cell culture results and more in vivo-like cell behavior
with certain cells and cell types. Field tests also have shown that
the Ultra-Web Synthetic ECM provides superior performance compared
to variable biological matrices and hydrogels. SurModics,
Donaldson, and Corning Life Sciences will target both basic cell
biology research and cell-based high throughput screening (HTS)
applications for drug discovery and development. Additional
information about Donaldson Ultra-Web(TM) Synthetic ECM products
can be found at http://www.synthetic-ecm.com/ . About Donaldson
Company, Inc. Donaldson is a leading worldwide provider of
filtration systems and replacement parts. Donaldson is a
technology-driven company committed to satisfying customer needs
for filtration solutions through innovative research and
development. Donaldson serves customers in the diesel engine and
industrial markets including in-plant air cleaning, compressed air
and gas purification, power generation, disk drive filtration,
off-road equipment and trucks. Our 11,000 employees contribute to
the company's success at over 30 manufacturing locations around the
world. Donaldson is a member of the S&P MidCap 400 Index and
Donaldson shares are traded on the NYSE under the symbol DCI.
Additional company information is available at
http://www.donaldson.com/ . About SurModics, Inc. SurModics, Inc.
is a leading provider of surface modification technologies in the
areas of biocompatibility, site specific drug delivery, biological
cell encapsulation, and medical diagnostics. SurModics partners
with the world's foremost medical device, pharmaceutical and life
science companies to bring innovation together for better patient
outcomes. Recent collaborative efforts include the implementation
of SurModics' Bravo(TM) drug delivery polymer matrix as a key
component of the first-to-market drug-eluting coronary stent.
SurModics is also active in the ophthalmology market with a
sustained drug delivery system that is currently in human trials
for treatment of retinal disease. A significant portion of
SurModics' revenue is generated by royalties earned from the sale
of our customers' commercial products. SurModics is headquartered
in Eden Prairie, MN. More information about the company can be
found at http://www.surmodics.com/. The content of SurModics' web
site is not part of this release or part of any filings the company
makes with the SEC. About Corning Incorporated Corning Incorporated
( http://www.corning.com/ ) is a diversified technology company
that concentrates its efforts on high-impact growth opportunities.
Corning combines its expertise in specialty glass, ceramic
materials, polymers and the manipulation of the properties of
light, with strong process and manufacturing capabilities to
develop, engineer and commercialize significant innovative products
for the telecommunications, information display, environmental,
semiconductor, and life sciences industries. Corning Life Sciences
helps customers succeed by providing innovative, high-quality
products and service in the areas of polymer science, biochemistry
and molecular biology, glass melting and forming, surface
modification and characterization science. Corning cell culture and
assay labware products include tissue culture dishes, 6 and 24-well
multiwell plates, 96, 384, and 1536-well microplates, roller
bottles, flasks, and CellSTACK(R) Culture Chambers. The business'
dedication to quality, technology, and innovation has enabled it to
produce a comprehensive line of plastic laboratory disposables and
reusable glassware that exceeds American Standard Testing Method
(ASTM) standards for life science research. SurModics' Safe Harbor
for Forward Looking Statements Certain statements contained in this
press release may be deemed to be forward-looking statements under
federal securities laws, and SurModics intends that such forward
looking statements be subject to the safe harbor created thereby.
Factors that may cause actual results to differ from the
forward-looking statements include those described in the "Risk
Factors" and other sections of SurModics' filings with the
Securities and Exchange Commission. SurModics does not undertake an
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Donaldson's Safe Harbor Statement The company desires
to take advantage of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 (the "Act") and is making
this cautionary statement in connection with such safe harbor
legislation. This release, the Annual Report to Shareholders, any
Form 10-K, 10-Q or Form 8-K of the company or any other written or
oral statements made by or on behalf of the company may include
forward-looking statements, forecasts and projections which reflect
the company's current views with respect to future events and
financial performance but involve uncertainties that could
significantly impact results. The words "believe," "expect,"
"anticipate," "intends," "estimate," "forecast," "outlook," "plan,"
"promises," "project," "should," "will be" and similar expressions
are intended to identify "forward- looking statements" within the
meaning of the Act. The company wishes to caution investors that
any forward-looking statements are subject to uncertainties and
other risk factors that could cause actual results to differ
materially from such statements, including but not limited to risks
associated with: currency fluctuations, commodity prices, world
economic factors, political factors, the company's international
operations, highly competitive markets, changes in product demand,
and governmental laws and regulations. For a more detailed
explanation, see the company's 2005 Form 10-K and most recent Form
10-Q filed with the Securities and Exchange Commission. The company
wishes to caution investors that new factors emerge from time to
time, and it is not possible for management to predict all such
factors, nor can it assess the impact of each such factor on the
business or the extent to which any factor, or a combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements. Investors are further
cautioned not to place undue reliance on such forward-looking
statements as they speak only to the company's views as of the date
the statement is made. The company undertakes no obligation to
publicly update or revise any forward-looking statements. Corning
Incorporated Forward-Looking and Cautionary Statements This press
release contains forward-looking statements that involve a variety
of business risks and other uncertainties that could cause actual
results to differ materially. These risks and uncertainties include
the possibility of changes or fluctuations in global economic and
political conditions; tariffs, import duties and currency
fluctuations; product demand and industry capacity; competitive
products and pricing; manufacturing efficiencies; cost reductions;
availability and costs of critical components and materials; new
product development and commercialization; order activity and
demand from major customers; capital spending by larger customers
in the liquid crystal display industry and other businesses;
changes in the mix of sales between premium and non-premium
products; facility expansions and new plant start-up costs;
possible disruption in commercial activities due to terrorist
activity, armed conflict, political instability or major health
concerns; ability to obtain financing and capital on commercially
reasonable terms; adequacy and availability of insurance; capital
resource and cash flow activities; capital spending; equity company
activities; interest costs; acquisition and divestiture activities;
the level of excess or obsolete inventory; the rate of technology
change; the ability to enforce patents; product and components
performance issues; changes in key personnel; stock price
fluctuations; and adverse litigation or regulatory developments.
These and other risk factors are identified in Corning's filings
with the Securities and Exchange Commission. Forward-looking
statements speak only as of the day that they are made, and Corning
undertakes no obligation to update them in light of new information
or future events. DATASOURCE: Donaldson Company, Inc. CONTACT: Phil
Ankeny of SurModics, Inc., +1-952-829-2700; or Rich Sheffer of
Donaldson Company, Inc., +1-952-887-3753; or Pamela D'Arcangelo of
Corning Incorporated Life Sciences, +1-978-635-2275 Web site:
http://www.donaldson.com/ http://www.synthetic-ecm.com/
http://www.surmodics.com/ http://www.corning.com/
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