Biacore Targets Major Growth in Drug Discovery

Uppsala, Sweden 2000-01-12. Biacore Targets Major Growth in Drug Discovery Technical breakthroughs provide the basis for future expansion Lars-Göran Andrén, President and CEO of Biacore International AB (Nasdaq:BCOR)(SSE:BCOR) today outlined the company's plans to significantly grow its business by addressing the high growth drug th discovery market. Speaking at the 18 Hambrecht & Quist Healthcare Conference in San Francisco, he also presented breakthroughs in the development of high density affinity biosensor array technology that will provide the basis for future generations of instrumentation targeted at high throughput applications. Biacore's business strategy in drug discovery is designed to provide significantly enhanced affinity biosensor technology that addresses the key bottlenecks in the process. ® BIACORE 3000 already provides unique insights and understandings in the crucial areas of target identification, and high throughput screen development and validation that are enabling scientists to improve the efficiency of the R&D process. Biacore is presently developing a new generation of instruments that will address the major bottlenecks of hit characterization, lead optimization and ADME*. These systems will provide higher sensitivity and quality of data, and are being designed to operate as part of the drug discovery critical path, converting 'low value' HTS hits into 'high value' lead compounds. As part of Biacore's strategy, systems are currently being evaluated by a number of customers, including Millennium Pharmaceuticals, Inc. Biacore researchers have made, and patented, major affinity biosensor technology advancements that will provide the basis for high density array systems. These exciting breakthroughs will make it possible to increase the throughput of the technology by approximately 1000-fold. This will open up a whole new series of business opportunities in the drug discovery sector, such as protein expression profiling, and high throughput receptor and compound library screening. In his presentation summary, Lars-Göran Andrén stated "It is my firm belief, that by using Biacore's technology the Pharmaceutical and Biotechnology industries are able to enhance the productivity of their drug discovery processes. With our strong intellectual property position, our clear product leadership and global market coverage, I feel confident that we are well placed to create significant value over the next few years from our breakthroughs in R&D." * ADME stands for Absorption, Distribution, Metabolism and Excretion and represents the pharmaceutical characterization of new drug candidates. [Reuters: BCOR.N] - Ends - This press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, which, by their nature, involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Notes to editors: Biacore is a global market leader in affinity-based biosensor technology. Target groups consist primarily of medical and life science research laboratories. However, expansion is also being pursued in other areas, such as food analysis. Biacore had sales of SEK 288.8 million in 1998 and an operating income of SEK 52.8 million. Based in Uppsala, Sweden, the company is listed on the OM Stockholm Exchange and NASDAQ in the U.S. Further information on Biacore can be found on the web: www.biacore.com Address and phone: Biacore International AB Rapsgatan 7 SE-754 50 Uppsala SWEDEN Phone: +46 (0)18-675700 Fax: +46 (0)18-150111 info@biacore.com www.biacore.com Code: 00/BIAC/02 For Immediate Release! For further information, please contact: Lars-Göran Andrén, President and CEO +46 (0) 708 540234(in the U.S. January 12-14) Scientific/Trade Press Enquiries: David Dible/Nikul Odedra, HCC.De Facto Group +44 (0) 171 496 3300 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/12/20000112BIT00460/bit0001.doc http://www.bit.se/bitonline/2000/01/12/20000112BIT00460/bit0002.pdf