|
NORWALK, CT - NOVEMBER 6, 2000 - PE Corporation today announced
that Kathy Ordo�ez has been elected vice president of PE Corporation,
effective December 1, 2000, at which time she will join the company. In
her new position, she will lead a major initiative by the company in the
field of molecular diagnostics. Ms. Ordo�ez will report to Tony L. White,
chairman, president and chief executive officer, PE Corporation.
Ms. Ordo�ez is expected to significantly expand PE Corporation's existing
molecular diagnostics business, which currently is part of PE Biosystems
Group (NYSE:PEB), now doing business as Applied Biosystems. This initiative
is anticipated to leverage several technological resources of Applied
Biosystems and the company's Celera Genomics Group (NYSE:CRA). The initiative
will start as a part of Applied Biosystems, with Celera actively participating.
Further details regarding the initiative and its status within the company's
capital structure are anticipated to be announced in the coming months,
following Ms. Ordo�ez' arrival at the company.
"With the recent explosion of genomics information, the field of molecular
diagnostics is poised to rapidly evolve into a new era of high-value added
personalized medicine products and services," Mr. White said. "The addition
of Kathy Ordo�ez, a recognized industry leader who has built one of the
most successful businesses in the molecular diagnostics field, will position
us for a rapid expansion into this important new market."
"The technologies that have enabled the revolution in genomics research
are now leading a revolution in the diagnosis and treatment of human disease,"
said Michael W. Hunkapiller, Ph.D., senior vice president, PE Corporation
and president, Applied Biosystems. "They hold the promise of more effective
pairing of diagnosis and treatment based on the precise characterization
of the molecular underpinnings of disease processes. AB's leadership in
the development of tools which have automated DNA sequencing and real-time
PCR, together with Celera's growing databases of genomic information,
should ideally position us to exploit these opportunities. Today's announcement
expands the company's commitment to this area, already exemplified by
the development of our HIV genotyping system."
"This is an important step in the development of Celera, as this venture
should provide an excellent avenue for us to leverage our DNA information
into important molecular diagnostics that could advance the practice of
medicine and provide new treatments and cures for disease. With this talented
leadership in place, we will be poised to forge ahead in this important
arena," said J. Craig Venter, Ph.D., senior vice president, PE Corporation
and president and chief scientific officer, Celera Genomics.
The new venture is expected to be housed in Pleasanton, CA, where Applied
Biosystems has recently purchased an 80-acre site, which will serve as
the company's second Bay Area campus. The group will occupy temporary
space until construction is completed in 2002.
A conference call to discuss this release will be held with investors
and media on Monday, November 6 at 4:15 p.m. EST. To participate, please
phone 212/271-4563 between 4:00 and 4:15 p.m. ET and ask for the PE Corporation
conference call. The call will also be webcast live on the Internet, accessible
at http://www.pecorporation.com/invest/index.html.
PE Corporation comprises two operating groups. The PE Biosystems Group,
now conducting business under the Applied Biosystems name, develops and
markets instrument-based systems, reagents, software and contract services
to the life science industry and research community. Applied Biosystems
is headquartered in Foster City, CA and reported sales of $1.4 billion
during fiscal 2000. The Celera Genomics Group, headquartered in Rockville,
MD, intends to become the definitive source of genomic and related medical
information. Information about the company, including reports and other
information filed by the company with the Securities and Exchange Commission,
is available on the worldwide web at www.pecorporation.com or by phoning
800.762.6923.
Certain statements in this press release are forward-looking. These may
be identified by the use of forward-looking words or phrases such as "believe,"
"expect," "intend," "anticipate," "should," "planned," "estimated," and
"potential," among others. These forward-looking statements are based
on PE Corporation's current expectations. The Private Securities Litigation
Reform Act of 1995 provides a "safe harbor" for such forward-looking statements.
In order to comply with the terms of the safe harbor, PE Corporation notes
that a variety of factors could cause actual results and experience to
differ materially from the anticipated results or other expectations expressed
in such forward-looking statements. The risks and uncertainties that may
affect the operations, performance, development, and results of PE Biosystems
businesses include but are not limited to (1) rapidly changing technology
in life sciences could make the Applied Biosystems product line obsolete
unless it continues to improve existing products, develop new products,
and pursue new market opportunities; (2) sales dependent on customers'
capital spending policies and government-sponsored research; (3) claims
for patent infringement; (4) significant overseas operations; (5) future
growth strategy; (6) earthquakes; and (7) other factors that might be
described from time to time in PE Corporation's filings with the Securities
and Exchange Commission.
Copyright � 2000.
PE Corporation. All Rights Reserved.
Celera, Celera Genomics, Applied
Biosystems and PE Biosystems are trademarks of PE Corporation.
|
