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Perkin-Elmer, Dr. J. Craig Venter, And TIGR Announce Formation Of New Genomics Company

he sooner new therapies can be developed for the thousands of disorders in which genes play a role."

Dr. Venter will serve as the president of the proposed new company. Mr. White will serve as the new firm's chairman, and Perkin-Elmer's vice president of corporate planning and business development, Peter Barrett, Ph.D., will be appointed an executive vice president. Perkin-Elmer will retain ownership of approximately 80 percent of the new company, with the balance being held by TIGR, Dr. Venter, other members of management, and employees of the new company in the form of common shares and options. The company will be located in Rockville, MD.

Additional terms of the letters of intent were not disclosed, and the agreement is subject to final documentation and the approval of the boards of Perkin-Elmer and TIGR.

The Perkin-Elmer Corporation is a leading supplier of systems for life science research and related applications. It develops, manufactures, and markets life science systems and analytical instruments used in markets such as pharmaceutical, biotechnology, environmental testing, foods, agriculture, and chemical manufacturing. Headquartered in Connecticut, Perkin-Elmer had revenues of nearly $1.4 billion in fiscal 1997 and employs more than 6,000 people worldwide. Information about the Company is available on the World Wide Web at http://www.perkin-elmer.com or by phoning (800) 762-6923.

TIGR, headquartered in Rockville, MD is an independent, not-for-profit research institute founded in 1992 by Dr. Venter that employs 170 faculty and staff. TIGR has interest in structural, functional and comparative analysis of genome and gene products in viruses, eubacteria, pathogenic bacteria, archaea, and eukaryotes, both plant and animal, including humans. In its brief history, TIGR has fully sequenced seven organisms. Most recently, TIGR released the DNA sequence for H. pylori, the bacteria that c
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Contact: Timothy Sipols
t.sipols@noonanrusso.com
212-696-4455 ext.272
Noonan/Russo Communications
9-May-1998


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