Gyros AB licenses patented technology to Cellectricon AB.

Gyros AB licenses patented technology to Cellectricon AB. Gyros AB today announced finalization of a licensing agreement with Cellectricon AB relating to a patent held by Gyros and applied in major biotech markets worldwide. Maris Hartmanis, President and CEO at Gyros AB explained "This is the second in a number of licensing agreements that we are pursuing. The patent held by Gyros is very wide ranging and covers the manufacture and use of elastomeric microfluidic devices." Jakob Lindberg CEO at Cellectricon added, "Processes covered by the Gyros patent are used within the development of the Dynaflow(TM) Platform, our first product line. The Dynaflow(TM) Microchip is a ground- breaking higher-throughput tool offering productivity increase in the drug discovery process, and is already adopted by major pharma. The Gyros patent will in conjunction with Cellectricon's extensive patent portfolio give us unique possibilities to develop functional cell-based platforms for pharmaceutical companies." Gyros and Cellectricon are examples of the unique expertise that exists in the Swedish scientific community for the development and application of microfluidic-based technologies. "Licensing agreements of this sort serve to strengthen both partners and ensure that novel application ideas have a good chance to enter the drug discovery market." added Mr. Hartmanis. Gyros recently announced a similar licensing agreement, based on the same patent, with Fluidigm Corporation, a microfluidic company based in California. About Gyros AB Gyros miniaturizes and integrates laboratory applications, enabling scientists to generate more information from less sample and to improve lab performance. Using our proprietary technology platform, we increase productivity by streamlining the many steps of conventional applications into single, nanoliter scale procedures. Optimal environments are created for each application. A Gyrolab microlaboratory, in the form of a compact disk, can process hundreds of samples in parallel, under the control of Gyrolab Workstation. Our company will realize the full potential of the Gyros technology platform in the fields of drug discovery and diagnostics. Initial product offerings are focused towards the growing area of proteomics. Gyros has more than 90 employees working at its headquarters in Uppsala Science Park, Sweden and in sales offices in the USA and Europe. For further information, visit www.gyros.com or contact: Maris Hartmanis, President and CEO, Gyros AB Tel: +46 (0)18 566 330 Mobile: +46 (0)70 562 8617 Email: maris.hartmanis@gyros.com Per Sjöberg, Executive Vice President Commercial Operations, Gyros AB Tel: +46 (0)18 566 318 Mobile: +46 (0)70 544 4799 Email: per.sjoberg@gyros.com Sue Cresswell, Marketing Communications Tel: +46 (0)8 54472620 Mobile: +46 (0)70 551 9520 Email: sue.cresswell@gyros.com About Cellectricon AB Cellectricon is a Swedish biotechnology tools company that develops microfabricated cell-based tools for the pharmaceutical and biotechnology industries. Cellectricon works at the microtechnology and biology interface inventing products that will allow productivity increases primarily in the drug discovery process. The company was formed based on an extensive and solid patent portfolio within different areas such as high-throughput electrophysiology, patch-clamp, microfluidics, microfabrication, and electroporation. The first product generation, DynaflowTM focuses on chip-based platforms for drug screening applications. The DynaflowTM technology is built around a ground-breaking microfluidic device offering higher-throughput screening for drugs targeting ion channels. Cellectricon is currently owned by Investor Growth Capital, Innovationskapital, Karolinska Investment Fund together employees and seed investors. For further information, visit www.cellectricon.se or contact: Jakob Lindberg, CEO, Cellectricon Tel: +46 (0) 31 760 35 02 Mobile: +46 (0)70 569 54 71 Email: jakob.lindberg@cellectricon.se Owe Orwar, CSO, Cellectricon Tel: +46 (0) 31 760 35 07 Mobile: +46 (0)70 299 29 89 Email: orwar@phc.chalmers.se Statements in this press release that are not strictly historical may be forward-looking and include risks and uncertainties. Therefore, though based on Gyros' current expectations, it should be duly noted that a variety of factors could cause actual results and experiences to differ materially from what is herein expressed. Risks and uncertainties include, but are not limited to, risks associated with the management of growth and international operations (including effects of currency fluctuations), variability of operating results, unforeseen changes in the diagnostic and pharmaceutical markets, market competition, rapid or unexpected changes in technologies, fluctuations in product demand, difficulties to successfully develop, adapt, produce or commercialize products, the ability to identify and develop new products and to differentiate products from those of competitors, as well as various legal hazards. Gyros, Gyrolab and the Gyros logo are registered trademarks of Gyros AB. Cellectricon and Dynaflow are registered trademarks of Cellectricon AB. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/14/20030411BIT00810/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/14/20030411BIT00810/wkr0002.pdf