11/04/2003

Labcyte Joins Forces with Picoliter

Sunnyvale, CA, and Union City, CA, November 4, 2003 - Picoliter Inc. and Labcyte, LLC announced today that they have merged into a new Delaware corporation, Labcyte Inc. Picoliter Inc. is based on new technology for using focused acoustics (ultrasound) to transfer nanoliter and picoliter volumes of fluids for life science applications. Labcyte LLC provides plastic labware and automated systems for moving microwell plates and dispensing liquids.

Picoliter is developing a new system, the Echo 550 compound reformatter, which precisely transfers low nanoliter quantities of liquid between microwell plates. This system transfers compound libraries for testing in high throughput screening, a critical step in drug discovery. The Echo 550 enables implementation of lower volume assays without the use of disposable tips or washing. Savings are realized from lower reagent usage, less waste and no tips.

Labcyte LLC products provide life science researchers the ability to rapidly move and fill microwell plates, which are the containers used in the new Echo 550 compound reformatter. Consequently, the combined company is able to offer a variety of systems for plate handling and filling over a wide range of volumes. The company has decided to use the name Labcyte Inc. for the merged company as this name is recognized by Labcyte LLC's existing customers and is more indicative of the broader scope of the new corporation.

"Labcyte instruments are known for 'concentrated functionality' as their designs pack an exceptional amount of capability into a small footprint, conserving precious bench space. This merger allows the combined company to provide our customers with more complete solutions and to expand our sales and support organization more quickly," said Elaine J. Heron, Ph. D., Chief Executive Officer of Picoliter Inc.

"The patent-protected Picoliter technology is a perfect complement to our extensive line of labware and proven systems for plate handling and liquid dispensing. Together we can offer customers a wide range of reliable solutions for high throughput screening, genomics and proteomics," said A. Mark Bramwell, President of Labcyte LLC.

Dr. Heron will serve as the new company's Chairman and Chief Executive Officer. Mr. Bramwell will join the company's board of directors and take the position of Vice President, Corporate Development. In this capacity he will be responsible for establishing external collaborations to expand the company into new areas and for licensing the company's technology.

Labcyte also announced that its seventh U.S. patent 6,642,061 entitled "Use of Immiscible Fluids in Droplet Ejection Through Application of Focused Acoustic Energy" was issued today. This technology has applications in the use of multiple layer droplets for miniaturized arrayed assays.

Labcyte Inc. is a privately held company headquartered in Sunnyvale, California. The company provides a broad range of systems for liquid handling and microwell plate processing as well as an extensive line of plastic consumables for use on its own instruments and those from other manufacturers. The 100 nanoliter to 300 microliter liquid transfer range is covered by a collection of instruments known for their small footprint and ease of conversion among formats. For transfers below 100 nanoliters, Labcyte is developing the acoustic droplet ejection (ADE) technology with broad applications in the life science including dispensing equipment, assay systems, particle manufacturing, microarrays, and living cell transfer devices. The company's initial ADE-based product, the Echo 550, is a system for precisely transferring low nanoliter volumes of potential drug compounds into assay plates. Labcyte has 7 issued U. S. patents assigned to Picoliter Inc. and 30 applications pending with the USPTO as well as additional international filings.

To lean more about Labcyte Inc., please visit our new website, www.labcyte.com.

Contact:
Elaine J. Heron, Ph.D.
Chief Executive Officer
Labcyte Inc.
1190 Borregas Avenue
Sunnyvale, CA 94089
(408) 747-2000 x 108
(408) 747-2009 (FAX)
Elaine.Heron@labcyte.com
www.labcyte.com