SOURCE: Symyx Technologies, Inc.

August 14, 2008 18:15 ET

Symyx Technologies Acquires Integrity Biosolution

Acquisition Boosts Symyx Research Services in Life Sciences and Expands Offering Into Biologic Formulations

Santa Clara, CA--(Marketwire - August 14, 2008) - Symyx Technologies, Inc. (NASDAQ: SMMX), today announced it has acquired Camarillo, CA-based Integrity Biosolution, LLC in an all-cash transaction. IntegrityBio is a leader in contract formulation research and analytical services, providing high-quality, cost-effective formulation and stability solutions for large molecule biopharmaceuticals along with Good Manufacturing Practices (GMP) fill/finish services for Phase I and II clinical trial volumes. Specific terms of the acquisition were not disclosed.

The acquisition expands Symyx's Research Service offerings in life sciences into biologic formulations, complementing its existing chemical formulations services. The combination of Symyx and IntegrityBio creates a differentiated set of large molecule formulation services to customers in the pharmaceutical and biotechnology industries by combining IntegrityBio's formulation expertise with Symyx's advanced high-throughput research and informatics capabilities.

"The acquisition of IntegrityBio is another milestone in the growth of Symyx Research Services for Life Sciences, and it enables Symyx to offer customers a highly competitive formulation service in biologics," said Isy Goldwasser, CEO of Symyx. "We can leverage our expertise in informatics and automated parallel experimentation to improve the consistency, accuracy, data capture capabilities and quality of reporting within this market. This is an important change in formulation outsourcing."

Dr. Byeong Chang, IntegrityBio's Founder who will continue to oversee technical and operational functions as Chief Scientific Officer, added, "IntegrityBio and Symyx share a successful track record of delivering world-class pharmaceutical product development services, providing our clients the freedom to achieve better results and the ability to manufacture best quality drug products for their clinical trials and commercialization. Together, IntegrityBio and Symyx will be at the forefront of large molecule contract formulation research and clinical fill/finish services. I'm excited at the opportunities this combination will provide us to better serve our customers."

To meet the growing needs of an expanded customer base and to help scientists and researchers deal with the evolving R&D landscape, Symyx continues to expand and diversify its Research Services offerings. Earlier this year, Symyx launched new preformulation, formulation, and process development research services for early stage pharmaceutical development. Last month, Symyx Research Services for Life Sciences announced a one-year agreement with Bristol-Myers Squibb Company to perform solubility research services and help them achieve a greater level of R&D efficiency.

Forward-Looking Statements

The statements contained in this release that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding the expectation that Symyx will be able to offer customers in the contract formulation research and fill/finish service markets unique, differentiated sets of services and the potential benefits of such services to such customers and to Symyx. These forward-looking statements are based upon Symyx's current expectations, and involve risks, uncertainties and assumptions. Actual results could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation: (1) failure to execute under existing contracts or maintain relationships with key customers as planned; (2) customers may not perceive the benefits of the combined formulation services that Symyx expects; (3) competitors may develop similar services; (4) unexpected difficulties may arise in the integration of the operations of, and services provided by, Symyx and IntegrityBio; (5) unexpected difficulties associated with entering into a new business enterprise; (6) failure to attract or retain key personnel, particularly in the acquired business; (7) greater exposure to litigation risk associated with pharmaceutical and biological products and services; (8) general economic conditions, in particular downturns in the life science and pharmaceutical industries; and (9) and other risks we describe in our filings with the Securities and Exchange Commission (including but not limited to Symyx's annual report on Form 10-K for the year ended December 31, 2007 and quarterly reports on Form 10-Q for the quarters ended March 31 and June 30, 2008). If any of these risks or uncertainties materialize or any of the assumptions prove incorrect, Symyx's results could differ materially and adversely from Symyx's expectations in these statements. Symyx assumes no obligation, and does not intend, to update these forward-looking statements except as the law may require.

About IntegrityBio

IntegrityBio, established by Dr. Byeong Chang in 2003 as a large molecule formulation research services company, strives to improve human life through the integration of formulation research and quality manufacturing. The company's mission is to provide high quality contract formulation research and analytical services; high quality, cost effective fill/finish services; and innovative drug delivery solutions for protein, antibody and peptide biopharmaceuticals. IntegrityBio's clients include both early-stage companies and several of the world's largest biotechnology, pharmaceutical and medical device companies. Information about IntegrityBio is available at www.integritybio.com.

About Symyx

Symyx Technologies, Inc. is the scientific R&D integration partner to companies in the life sciences, chemicals, energy, and consumer and industrial products industries. With scientific R&D under tremendous economic and technical pressure, Symyx helps companies reduce R&D risk and enhance R&D productivity to help them bring more and better products to market quickly and cost-effectively. Symyx's integrated technology platform combines electronic laboratory notebooks, content, laboratory logistics and analysis available from Symyx Software, software-driven integrated workflows available from Symyx Tools and scientifically-rich research services from Symyx Research to support the entire R&D process. Information about Symyx, including reports and other information filed by Symyx with the Securities and Exchange Commission, is available at www.symyx.com.

Contact Information

  • For more information:
    Derek Brookmeyer
    Racepoint Group for Symyx Technologies, Inc.
    (415) 694-6702
    Email Contact