Joint product opportunities to support transport, storage and processing of biomaterials
Brooks invests $4 million into BioCision to build strategic alignment in biobanking and sample handling to address global challenges in temperature control and standardization
CHELMSFORD, Mass. and LARKSPUR, Calif., March 24, 2014 (GLOBE NEWSWIRE) -- Brooks Automation, Inc. (Nasdaq:BRKS), a global provider of automated sample storage systems for compound management and biorepositories, and BioCision, LLC, a leader in advanced technology to improve biomaterial sample handling and standardization, today announced they have established a relationship to support the development of technologies to improve temperature control and standardization in the use of biomaterials across multiple industries, including pre-clinical and clinical research and product development. Under the terms of the agreement, Brooks Automation has made a $4 million equity investment in BioCision.
This new collaboration will leverage BioCision's proven expertise in the development of unique mobile temperature management products and technologies together with Brooks Automation's advanced research and production capabilities in automated systems for sample storage. The research and product design and engineering teams from both companies will work together to advance development of new, highly adaptable and scalable products to support a range of needs in biomaterial sample handling and biobanking, including products that are fully compatible with existing automated systems and that can serve as stand-alone solutions.
"On a global scale, industries and research centers that use biomaterials have demanded a solution that bridges the gap between outstanding storage capabilities and highly precise and automated systems for sample handling. By uniting the proven capabilities of BioCision and Brooks Automation, this collaboration supports development of a new generation of advanced solutions that will set entirely new performance benchmarks in temperature control and sample standardization," said Rolf Ehrhardt, MD, PhD, BioCision CEO.
"We are very excited about our investment and joint collaboration with BioCision, which will link our current activities and strategy in the life sciences market segment with their innovative products and technology," said Dr. Steve Schwartz, CEO of Brooks. "BioCision's focus on addressing major unmet needs in research and cold chain management has led them to impressive year-over-year revenue growth. Our investment in BioCision launches a relationship with joint product opportunities that have a great potential to be integrated with our existing technology platforms."
Founded in 2007, BioCision continues to record high double-digit annual sales growth based on rapid market expansion of products in sample handling and biomaterial temperature standardization. The company is the developer of CoolCell® cell freezing devices, which have become the new industry standard for cell cryopreservation in research and clinical applications, including cell therapy.
About BioCision, LLC
BioCision is a leading provider of innovative tools for standardizing sample and biomaterial handling, cryopreservation and storage procedures. BioCision products are used worldwide by researchers in the pharmaceutical, biotechnology, academic and health care industries. For more information visit http://biocision.com/, or visit the BioCision blog for news and expert insight at http://blog.biocision.com/. Follow @BioCision on Twitter and "Like" the BioCision Facebook page at https://www.facebook.com/BioCisionLLC.
About Brooks Automation, Inc.
Brooks is a leading worldwide provider of automation and cryogenic solutions for multiple markets including semiconductor manufacturing, life sciences, and clean energy. Our technologies, engineering competencies and global service capabilities provide customers speed to market, and ensure high uptime and rapid response, which equate to superior value in their mission-critical controlled environments. Since 1978, we have been a leading partner to the global semiconductor manufacturing market and through product development initiatives and strategic business acquisitions; we have expanded our reach to meet the needs of customers in the life sciences industry, analytical & research markets and clean energy solutions. Brooks is headquartered in Chelmsford, MA, with direct operations in North America, Europe and Asia. For more information, please visit www.brooks.com.
"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934
Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Brooks' financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. These forward-looking statements include statements regarding the expected benefits of a relationship between Brooks Automation and BioCision. Factors that could cause results to differ from our expectations include the following: volatility of the industries the Company serves, particularly the semiconductor industry; our possible inability to meet demand for our products due to difficulties in obtaining components and materials from our suppliers in required quantities and of required quality; the inability of customers to make payments to us when due; the timing and effectiveness of cost reduction and cost control measures; price competition; disputes concerning intellectual property; continuing uncertainties in global political and economic conditions, and other factors and other risks that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, current reports on Form 8-K and our quarterly reports on Form 10-Q. As a result we can provide no assurance that our future results will not be materially different from those projected. Brooks expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based. Brooks undertakes no obligation to update the information contained in this press release.