Cellectricon receives breakthrough order from AstraZeneca

Cellectricon receives breakthrough order from AstraZeneca The Swedish biotech tools company Cellectricon has received a breakthrough order from AstraZeneca R&D Mölndal. The order represents an important landmark for Cellectricon's commercialization of its patented DynaflowTM technology for aggressive productivity increase in the drug discovery process. Cellectricon was formed 2001 with an extensive patent portfolio. The company has been expanding steadily and rapidly from the start, growing from 2 to 25 employees today. Cellectricon's first product, the DynaflowTM Microchip, is a ground-breaking drug screening tool that can be used by pharmaceutical companies to perform drug discovery with high speed and accuracy. The DynaflowTM Microchip is based on a revolutionary microfluidic concept offering higher-throughput screening for drugs targeting ion channels, which are instrumental for brain and heart disease therapy. "The DynaflowTM Microchip has substantially increased our throughput and reduced the amount of compound needed for testing," says Dr. Ingemar Jacobson, who is Associate Principal Scientist at AstraZeneca R&D in Mölndal, Sweden. "The DynaflowTM technology is superior in most aspects when compared to other perfusion systems on the market." Jakob Lindberg, CEO of Cellectricon, is pleased with the successful commercial launch of the company's DynaflowTM technology less than one year after the company's Series A financing round. He says that AstraZeneca's decision to invest in the technology, after being involved in several rounds of beta-testing, is both gratifying and proof that DynaflowTM drug-screening technology will be adopted by others. About Cellectricon Cellectricon is a Swedish biotechnology tools company that develops microfabricated cell-based tools for the pharmaceutical and biotechnology industries. Cellectricon works at the interface between microtechnology and biology inventing products that will allow productivity increases primarily in the drug discovery process. The company was formed 2001 based on an extensive and solid patent portfolio within different areas such as high-throughput electrophysiology, patch- clamp, microfluidics, microfabrication, and electroporation. Cellectricon is currently owned by Investor Growth Capital, Innovationskapital, and Karolinska Investment Fund together with employees and seed investors. For more information please visit www.cellectricon.se Contact Details: Jakob Lindberg, CEO Susanne Orwar, Communications Manager Phone: + 46-70-569 5471 Phone: +46 - 31 - 760 35 15 jakob.lindberg@cellectricon.se susanne.orwar@cellectricon.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/07/20030407BIT00230/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/07/20030407BIT00230/wkr0002.pdf