MINNEAPOLIS, May 11 /PRNewswire-FirstCall/ -- Donaldson Company, Inc.
(NYSE: DCI) and SurModics, Inc. (Nasdaq: SRDX) today announced a strategic
marketing and distribution agreement with Corning Incorporated (NYSE: GLW),
through which Corning Life Sciences will provide worldwide marketing and
distribution of nanofiber cell culture products for in vitro (laboratory
based) cell culture research and drug discovery applications.
The distribution agreement is intended to bring the SurModics-Donaldson
jointly developed nanofiber products to customers more quickly by taking
advantage of Corning Life Sciences' market leading position in plastic and
glass labware for use in cell culture and drug discovery applications.
Evaluations by multiple customers have demonstrated that the Ultra-Web(TM)
Synthetic ECM (extracellular matrix) products mimic cell growth conditions
that more closely resemble those found in the body (in vivo), leading to
improved outcomes in cell culture, cell-based bioassays and other in vitro
"Corning Life Sciences is an outstanding partner to market and
distribute the Ultra-Web Synthetic ECM technology into the cell culture and
drug discovery marketplace," said Bruce Barclay, President and CEO of
SurModics. "Corning Life Sciences' market leadership position will help
accelerate the market adoption and penetration of this revolutionary
technology. We are excited about working closely with Corning Life Sciences
to capitalize on the full potential of this platform technology."
"The Ultra-Web Synthetic extracellular matrix technology is a
breakthrough synthetic technology and fits well with our growth vision for
cell culture and drug discovery applications," said Mark Beck, Division
Vice President and Deputy General Manager of Corning Life Sciences. "This
agreement with SurModics and Donaldson is consistent with our commitment to
bring the best technology in the right product formats to our customers."
Donaldson and SurModics formed a joint development relationship in May
2005, combining Donaldson's nanofiber technology and SurModics' surface
modification technology to create synthetic nanofibrillar cell culture
products. Donaldson and SurModics recently introduced the first jointly
developed product as a cell culture insert based on the Ultra-Web Synthetic
ECM technology. Moving forward, all three companies will continue to
jointly develop a platform of products based on the technology.
In collaboration with the inventor, Dr. Melvin Schindler, Department of
Biochemistry and Molecular Biology, Michigan State University, and Dr.
Sally Meiners of the Robert Wood Johnson Medical School of Piscataway, New
Jersey, Donaldson and SurModics have demonstrated that the Ultra-Web
technology provides enhanced cell culture results and more in vivo-like
cell behavior with certain cells and cell types. Field tests also have
shown that the Ultra-Web Synthetic ECM provides superior performance
compared to variable biological matrices and hydrogels.
SurModics, Donaldson, and Corning Life Sciences will target both basic
cell biology research and cell-based high throughput screening (HTS)
applications for drug discovery and development. Additional information
about Donaldson Ultra-Web(TM) Synthetic ECM products can be found at
About Donaldson Company, Inc.
Donaldson is a leading worldwide provider of filtration systems and
replacement parts. Donaldson is a technology-driven company committed to
satisfying customer needs for filtration solutions through innovative
research and development. Donaldson serves customers in the diesel engine
and industrial markets including in-plant air cleaning, compressed air and
gas purification, power generation, disk drive filtration, off-road
equipment and trucks. Our 11,000 employees contribute to the company's
success at over 30 manufacturing locations around the world. Donaldson is a
member of the S&P MidCap 400 Index and Donaldson shares are traded on the
NYSE under the symbol DCI. Additional company information is available at
About SurModics, Inc.
SurModics, Inc. is a leading provider of surface modification
technologies in the areas of biocompatibility, site specific drug delivery,
biological cell encapsulation, and medical diagnostics. SurModics partners
with the world's foremost medical device, pharmaceutical and life science
companies to bring innovation together for better patient outcomes. Recent
collaborative efforts include the implementation of SurModics' Bravo(TM)
drug delivery polymer matrix as a key component of the first-to-market
drug-eluting coronary stent. SurModics is also active in the ophthalmology
market with a sustained drug delivery system that is currently in human
trials for treatment of retinal disease. A significant portion of
SurModics' revenue is generated by royalties earned from the sale of our
customers' commercial products. SurModics is headquartered in Eden Prairie,
MN. More information about the company can be found at
http://www.surmodics.com. The content of SurModics' web site is not part of
this release or part of any filings the company makes with the SEC.
About Corning Incorporated
Corning Incorporated ( http://www.corning.com ) is a diversified
technology company that concentrates its efforts on high-impact growth
opportunities. Corning combines its expertise in specialty glass, ceramic
materials, polymers and the manipulation of the properties of light, with
strong process and manufacturing capabilities to develop, engineer and
commercialize significant innovative products for the telecommunications,
information display, environmental, semiconductor, and life sciences
Corning Life Sciences helps customers succeed by providing innovative,
high-quality products and service in the areas of polymer science,
biochemistry and molecular biology, glass melting and forming, surface
modification and characterization science. Corning cell culture and assay
labware products include tissue culture dishes, 6 and 24-well multiwell
plates, 96, 384, and 1536-well microplates, roller bottles, flasks, and
CellSTACK(R) Culture Chambers. The business' dedication to quality,
technology, and innovation has enabled it to produce a comprehensive line
of plastic laboratory disposables and reusable glassware that exceeds
American Standard Testing Method (ASTM) standards for life science
SurModics' Safe Harbor for Forward Looking Statements
Certain statements contained in this press release may be deemed to be
forward-looking statements under federal securities laws, and SurModics
intends that such forward looking statements be subject to the safe harbor
created thereby. Factors that may cause actual results to differ from the
forward-looking statements include those described in the "Risk Factors"
and other sections of SurModics' filings with the Securities and Exchange
Commission. SurModics does not undertake an obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Donaldson's Safe Harbor Statement
The company desires to take advantage of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995 (the "Act") and is
making this cautionary statement in connection with such safe harbor
legislation. This release, the Annual Report to Shareholders, any Form
10-K, 10-Q or Form 8-K of the company or any other written or oral
statements made by or on behalf of the company may include forward-looking
statements, forecasts and projections which reflect the company's current
views with respect to future events and financial performance but involve
uncertainties that could significantly impact results. The words "believe,"
"expect," "anticipate," "intends," "estimate," "forecast," "outlook,"
"plan," "promises," "project," "should," "will be" and similar expressions
are intended to identify "forward- looking statements" within the meaning
of the Act.
The company wishes to caution investors that any forward-looking
statements are subject to uncertainties and other risk factors that could
cause actual results to differ materially from such statements, including
but not limited to risks associated with: currency fluctuations, commodity
prices, world economic factors, political factors, the company's
international operations, highly competitive markets, changes in product
demand, and governmental laws and regulations. For a more detailed
explanation, see the company's 2005 Form 10-K and most recent Form 10-Q
filed with the Securities and Exchange Commission. The company wishes to
caution investors that new factors emerge from time to time, and it is not
possible for management to predict all such factors, nor can it assess the
impact of each such factor on the business or the extent to which any
factor, or a combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.
Investors are further cautioned not to place undue reliance on such
forward-looking statements as they speak only to the company's views as of
the date the statement is made. The company undertakes no obligation to
publicly update or revise any forward-looking statements.
Corning Incorporated Forward-Looking and Cautionary Statements
This press release contains forward-looking statements that involve a
variety of business risks and other uncertainties that could cause actual
results to differ materially. These risks and uncertainties include the
possibility of changes or fluctuations in global economic and political
conditions; tariffs, import duties and currency fluctuations; product
demand and industry capacity; competitive products and pricing;
manufacturing efficiencies; cost reductions; availability and costs of
critical components and materials; new product development and
commercialization; order activity and demand from major customers; capital
spending by larger customers in the liquid crystal display industry and
other businesses; changes in the mix of sales between premium and
non-premium products; facility expansions and new plant start-up costs;
possible disruption in commercial activities due to terrorist activity,
armed conflict, political instability or major health concerns; ability to
obtain financing and capital on commercially reasonable terms; adequacy and
availability of insurance; capital resource and cash flow activities;
capital spending; equity company activities; interest costs; acquisition
and divestiture activities; the level of excess or obsolete inventory; the
rate of technology change; the ability to enforce patents; product and
components performance issues; changes in key personnel; stock price
fluctuations; and adverse litigation or regulatory developments. These and
other risk factors are identified in Corning's filings with the Securities
and Exchange Commission. Forward-looking statements speak only as of the
day that they are made, and Corning undertakes no obligation to update them
in light of new information or future events.
SOURCE Donaldson Company, Inc.