Pyrosequencing AB Reports Strong First Quarter Results for Period Ended March 31, 2001

Pyrosequencing AB Reports Strong First Quarter Results for Period Ended March 31, 2001 -- Company maintains momentum with new high-throughput product, sequence analysis applications and reagent kits -- Uppsala, Sweden, May 2, 2001, Pyrosequencing AB (PYRO A: Stockholm) reports strong first quarter results for the period ended March 31, 2001, maintaining momentum with 20 new orders for the PSQtm96 System this quarter. Erik Walldén, President and CEO of Pyrosequencing, reflecting on the quarter said, "We are off to a running start this year, reporting strong first quarter results highlighted by 20 new orders for our PSQtm96 System and setting an industry record with an installed base of over 80 systems for applied genetic analysis worldwide. We also launched our high-throughput program for SNP analysis -- signing our first customer in February, and introduced new software applications and reagent kits for other types of sequence analysis. Judging from a steady climb in reagent sales, our tools continue to enable customers to examine SNPs and generate other important sequence analysis information, making Pyrosequencingtm the most widely-used SNP genotyping technology for applied genomics in the world." First quarter 2001 highlights include: - Received 20 new orders for the PSQtm96 System; 17 were recorded as revenue with a backlog of 10 at March 31, 2001 - Increased installed base to over 80 systems worldwide - Signed the first customer for our high-throughput program in February - Launched our allele frequency software and reagent kits in early April - Presented new applications of Pyrosequencingtm technology including allele frequency, multiplexing and haplotyping at Genome Tri-Conference - Leveraged our 'sequencing by synthesis' technology through a cross- license agreement for novel fluorescent detection technology - Established a molecular diagnostics business to exploit the unique aspects of Pyrosequencingtm technology for routine clinical applications - Hosted industry's first showcase meeting on the practical applications of applied genomics featuring thought-leaders and experts from major market segments ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/02/20010502BIT01320/bit0001.doc The full report http://www.bit.se/bitonline/2001/05/02/20010502BIT01320/bit0001.pdf The full report