October 29, 2004
Haemonetics Makes Equity Investment in Arryx and Enters Research Collaboration
Braintree, MA, and Chicago, IL, USA – Haemonetics Corporation and Arryx, Inc. today announced they will collaborate on the development of new technology for applications in a broad range of markets.
Haemonetics will make an equity investment of $5 million in Arryx. Additionally, under a separate licensing agreement Haemonetics will make milestone payments to Arryx if Arryx reaches certain proof of concept, development and regulatory deliverables. The potential milestone payments total $12.5 million. If milestones are met, and the Company makes commercial sales of products that incorporate the technology, Haemonetics would make royalty payments to Arryx.
Under the terms of the agreement, Haemonetics has the exclusive worldwide license to Arryx’s technologies for use in blood processing. The companies will collaborate on the development of the technologies and, if successful, Haemonetics will manufacture and market systems which incorporate the developed technologies. The parties did not disclose other terms of the agreements.
“Throughout our history, Haemonetics has continually innovated, creating new markets and applications for our systems. We look forward to working with Arryx through this early stage research and into development, to deliver innovative technologies to benefit our customers worldwide,” Nutter continued.
Haemonetics Corporation
Haemonetics (NYSE: HAE) is a global company engaged in the design, manufacture and worldwide marketing of automated blood processing systems. These systems address important medical markets: surgical blood salvage, blood component collection, plasma collection, and blood component safety. To learn more about Haemonetics’ products and markets, visit its web site at http://www.haemonetics.com.
This release contains forward looking statements that involve risks and uncertainties, including technological advances in the medical field and standards for transfusion medicine and our ability to successfully implement products that incorporate such advances and standards, product demand, market acceptance, regulatory uncertainties, the effect of economic and political conditions, the impact of competitive products and pricing, blood product reimbursement policies and practices, foreign currency exchange rates, changes in customers’ ordering patterns, the effect of industry consolidation as seen in the plasma market, the effect of communicable diseases and the effect of uncertainties in markets outside the U.S. (including Europe and Asia) in which we operate and other risks detailed in the Company's filings with the Securities and Exchange Commission. The foregoing list should not be construed as exhaustive. The forward-looking statements are based on estimates and assumptions made by management of the Company and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results and experience could differ materially from the forward-looking statements.
