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Expedeon and Protein Discovery to Merge

Awardee Story Expedeon and Protein Discovery to Merge
Date: Nov 28, 2011

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CAMBRIDGE, UNITED KINGDOM and KNOXVILLE, TN--(Marketwire - Nov 28, 2011) - Expedeon, Ltd. and Protein Discovery, Inc. today announced a definitive agreement to merge to create a leading supplier of advanced products for protein research. The new Expedeon will be a global supplier of unique protein analysis and purification products used by thousands of scientists worldwide. Financial terms of the transaction were not disclosed.

Protein Discovery, founded in 2001, has developed a suite of innovative products that address key challenges in protein analysis. The company's flagship product, the GELFREE® 8100 Fractionation System, is the first instrument that partitions complex protein mixtures into user-selectable, liquid-phase molecular weight fractions. The system has achieved rapid market adoption and was recently highlighted in a landmark publication in the journal Nature. The company's proprietary consumables, including FASP™Protein Digestion kits and PPS Silent® Surfactant, allow scientists to enhance their data quality and improve their protein analysis workflows.

Expedeon is a leading provider of simple, rapid, and effective solutions for protein-based research and production. The company's patented products include industry-leading solutions for protein separation, quantitation, visualization, purification, protection and refolding. Expedeon has offices in Cambridge, UK and San Diego, CA and its products include RunBlue® electrophoresis precast gels, InstantBlue® protein stain and Nvoy™protein stabilization products, which are sold direct and through an extensive partner network around the world.

The group will remain headquartered in Cambridge, UK and Dr Heikki Lanckriet, founder and chief executive officer of Expedeon, will be chief executive officer of the new Expedeon. Chuck Witkowski, founder and chief executive officer of Protein Discovery, will join the Expedeon Board of Directors.

"This transaction represents an important step towards our strategic goal of becoming a premier, global provider of innovative product solutions for protein analysis," said Lanckriet. "Protein Discovery's talented team has built a business with highly innovative products that are considered best-in-class in their respective product segments. Combined with Expedeon's industry-leading products and extensive market channels, Expedeon will offer even greater value to scientists engaged in protein analysis."

Witkowski added, "We are thrilled to announce this transaction with Expedeon. By combining our businesses, we have an opportunity to create substantial value for our customers, shareholders, and other key stakeholders as we extend our innovative solutions to customers around the world."

About Protein Discovery
Protein Discovery, Inc. is a privately-held life sciences company that develops and commercializes specialized sample preparation products for protein analysis by mass spectrometry. Our products help academic, government and pharmaceutical scientists advance their protein research and biotherapeutic development by enabling more sensitive, more accurate and faster analyses.

About Expedeon
Expedeon Ltd is a privately-held tools and reagents company developing and delivering innovative products for protein discovery and analysis. The company provides researchers globally with unique and reliable products enabling advancements in protein research and drug development.

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