MOLECULAR DEVICES CORP

MOLECULAR DEVICES CORP

Previous company name

Name change date

Company Overview
Molecular Devices Corp produces and supplies high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. It was founded in 1983 and has its registered corporate headquarters located in Sunnyvale, California.
Molecular Devices has a record of developing innovative, first-to-market products that include instrumentation, software and reagent systems.
Some of the company’s instruments include cellular imaging tools, electrophysiology instruments, fluorometric metric readers, liquid handling systems, microarray analysis & Laser Capture Microdissection systems, and microplate readers. Its software products are for high-content imaging, microplate data, research imaging, electrophysiology data and microarray data. The company’s brands include Transfluor, FLIPR, CatchPoint, RiboAmp, Paradise, PicoPure, HistoGene, and Turbo Labeling.
The company’s systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates.
Molecular Devices’ product solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology, electrophysiology, and chemistry. Molecular Devices enables its customers to improve their research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs.
The company has offices in Union City, California, Downingtown, Pennsylvania, England, Germany, Korea, China and Japan.
Business Summary
Molecular Devices Corporation is a supplier of bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company’s systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and parallel chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. Molecular Devices Corporation’s solutions are based on its core technologies that integrate its capability in engineering, molecular and cell biology and chemistry. On January 28, 2007, the Company entered into a definitive agreement and plan of merger with MDS Inc. (MDS) and Monument Acquisition Corp. (Monument), a subsidiary of MDS, which contemplates the acquisition by MDS, through Monument, of all of its outstanding common stock.
Description and history
Molecular Devices Corporation, incorporated in 1983, is a supplier of bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company’s systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and parallel chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. Molecular Devices Corporation’s solutions are based on its core technologies that integrate its capability in engineering, molecular and cell biology and chemistry. On January 28, 2007, the Company entered into a definitive agreement and plan of merger with MDS Inc. (MDS) and Monument Acquisition Corp. (Monument), a subsidiary of MDS, which contemplates the acquisition by MDS, through Monument, of all of its outstanding common stock.

The Company offers a range of bioanalytical tools including automated systems for pharmaceutical screening and a variety of general-purpose research instruments. Molecular Devices Corporation groups its product offerings into two families: life sciences research and drug discovery, to reflect the markets they primarily address. Most of its products use optical technologies to detect the results of biological tests that occur in microplates. A microplate is a disposable vessel consisting of a standardized array of 96, 384 or 1,536 wells that are similar to small test tubes.

Life Sciences Research Products

Molecular Devices Corporation’s life sciences research products, which represented 63% of total revenues, during the year ended December 31, 2006, encompass its SpectraMax, GenePix, MetaMorph, Laser Capture Microdissection, Cellular Neurosciences, Liquid Handling and Threshold product lines. The Company’s microplate detection products consist of its SpectraMax and FlexStation families of microplate readers. Molecular Devices Corporation’s SpectraMax family includes the products, such as Emax, VMax, VersaMax, SpectraMax 340PC384, SpectraMax 190, SpectraMax Plus384, Gemini XPS, Gemini EM, LMax II384, SpectraMax M2/M2e, SpectraMax M5/M5e and StakMax. The Company’s FlexStation system is a workstation that integrates liquid handling and detection, and has applications in drug discovery, as well as life sciences research. This product offers flexibility to address a range of research applications by combining both multi-channel, plate-to-plate fluid transfer and fluorescence measurement in one system. The FlexStation family comprises the instruments and reagents, such as FlexStation II/II 384 and FlexStation 3.

The Company’s GenePix family, a complete line of instruments and software for analyzing microarrays, includes the products, such as GenePix 4000B, GenePix Professional 4200A, GenePix Personal 4100A and Acuity 4.0. Molecular Devices Corporation offers software that works in tandem with microscope and camera systems to enable researchers to acquire images of cells and quantify and analyze the images in a variety of ways. This product family consists of the software packages, including MetaMorph, MetaFluor and MetaVue. It sells MetaMorph either as an integrated system, including a camera, software and peripherals. The Company is an authorized reseller of cameras and peripheral equipment for several manufacturers, including Nikon Corporation and Roper Industries, Inc. In addition, it has authorized several value-added resellers, who integrate multiple components to create complete imaging systems, to distribute MetaMorph.

During 2006, Molecular Devices Corporation acquired the Laser Capture Microdissection (LCM) business from Arcturus Bioscience, Inc. (Arcturus), and it offers the systems and reagents, such as Arcturus XT, PixCell IIe, Veritas and Reagents. The Company is a supplier of signal amplification instruments and related software for cellular neurosciences research, offering a range of products for voltage recording, current and voltage clamping and patch clamping. Molecular Devices Corporation’s products for cellular neurosciences research consist of Digidata 1440A, pCLAMP 10.0, MultiClamp 700B, Axopatch 200B and Axoclamp 900A. The Company offers a line of liquid handling systems that includes a variety of cell and plate washers with 96, 384 and 1,536 well dispensing and washing capabilities. Its liquid handling systems bring a complete line of microplate washers and other related tools, including cell harvesters, to the life sciences research product family. Its Threshold system, which comprises a detection instrument and reagents, incorporates a technology to quantitate a variety of biomolecules, such as Deoxyribonucleic Acid (DNA), proteins and messenger ribonucleic acid (mRNA). The Threshold family of products includes a workstation, software and consumable reagent kits.

Drug Discovery Products

The Company’s drug discovery systems, which represented 37% of its total revenues in 2006, are used to screen chemical compounds to assess their effects on disease targets. This category includes its FLIPR, Automated Electrophysiology, High-Throughput Imaging and Analyst product families. Molecular Devices Corporation’s FLIPR instrumentation is complemented by its FLIPR reagent kits, which use a technology to reduce the number of steps involved in live cell testing. FLIPR product family includes FLIPRTETRA and FLIPR Assay Kits. Its Automated Electrophysiology products are automated systems that obtain the same high-quality information from cells as conventional patch clamping. The Company’s Automated Electrophysiology systems operate at speeds ranging from hundreds to thousands of compounds per day. Products include IonWorks Quattro, PatchXpress 7000A and OpusXpress 6000A.

Molecular Devices Corporation’s products include the instruments, software and technology for performing cell-based assays, including ImageXpress Micro, ImageXpress Ultra, ImageXpress 5000A, MetaXpress and AcuityXpress, and Transfluor. Its Analyst family of products provides flexibility and throughput for a range of biochemical assays. Instruments in this family feature several different detection technologies, allowing customers to choose the one that is optimal for their particular screen. Products include Analyst GT and IMAP Technology.

The Company’s service and support offerings include field service, customer support, applications assistance and training through an organization of factory-trained and educated service and application support personnel around the world. It offers services to its installed base of customers on both a contract and time and materials basis and Molecular Devices Corporation offers a variety of post-warranty contract options for all of its instrument offerings. The Company’s installed base provides it with stable, recurring after-market service and support revenue, as well as product upgrade and replacement opportunities.

The Company competes with Agilent Technologies Inc., Bio-Tek Instruments, Inc., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., General Electric Company, Applied Biosystems, PerkinElmer, Inc. and Tecan Group Ltd.

Business Line
Produces and supplies high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research
Subsidiary
MOLECULAR DEVICES (GERMANY) GMBH (VORMALS: MDS ANALYTICAL TECHNOLOGIES GMBH)
Advisor
ERNST & YOUNG LLP
IPO date
12/13/1995
US SIC Code
3826
Company Address
1311, Orleans Drive

City province or state postal code
94089, SUNNYVALE, CA
Phone: +1 408 747 1700
Fax: +1 408 747 3699
Country address: UNITED STATES OF AMERICA
Website url: www.moleculardevices.com