Celera Genomics Implements Restructuring
Resources Consolidated and Redeployed to Drive Drug Discovery and to Support Online/Information Customers
Rockville, MD - June 11, 2002
Celera Genomics (NYSE:CRA), an Applera Corporation business, today announced the implementation of a restructuring of its organization. This action is intended to focus the company’s resources on drug discovery and development, while assuring continued support for the customers of its Online/Information business and the Celera Discovery SystemTM (CDS). Celera will take a one-time charge of $2.8 million in the current fiscal quarter related to this restructuring.
Sixteen percent of Celera’s workforce and 132 positions are being eliminated, primarily within the functional areas of DNA sequencing, data management and analysis support, sales, and general administration. This action will reduce infrastructure previously built to support whole genome sequencing and the acquisition of customers for the Online/Information business. These reductions are not expected to adversely impact Celera’s Online/Information business, which continues to support its customers and the CDS platform with additional content and tools, including new products and services, through its collaboration with the Knowledge Business of Applied Biosystems.
The restructuring is intended to realign the organization with Celera Genomics’ drug discovery strategy, which is based on the identification and validation of therapeutic targets from proteomics, genomics, and bioinformatics and the development of new biologics and small molecule drugs. As part of the reorganization, all of Celera’s therapeutic R&D activities will be consolidated under a new manager, who is being recruited for the position.
“Having our entire R&D staff of almost 300 report to one leader should streamline our drug discovery process through tighter integration,” said Kathy Ordoñez, President of Celera Genomics. “We also plan to add down-stream development capabilities to allow us to further advance selected compounds from our preclinical programs toward clinical trials.”
About Celera Genomics and Applera Corporation
Applera Corporation comprises two operating groups. The Celera Genomics Group, located in Rockville, MD, and South San Francisco, CA, is engaged principally in integrating advanced technologies to discover and develop new therapeutics. Celera intends to leverage its genomic and proteomic technology platforms to identify drug targets and diagnostic marker candidates, and to discover novel therapeutic candidates. Its Celera Discovery SystemTM online platform, to be marketed exclusively through the Knowledge Business of Applied Biosystems, is an integrated source of information based on the human genome and other biological and medical sources. The Applied Biosystems Group (NYSE:ABI) develops and markets instrument-based systems, reagents, software, and contract services to the life science industry and research community. Applied Biosystems is headquartered in Foster City, CA, and reported sales of $1.6 billion during fiscal 2001. Celera Diagnostics, a joint venture between Applied Biosystems and Celera Genomics, is focused on discovery, development, and commercialization of novel diagnostic tests. Information about Applera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available on the World Wide Web at www.applera.com, or by telephoning 800.762.6923. Information about Celera Genomics is available on the World Wide Web at www.celera.com.
Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as “believe,” expect,” “intend,” and “should,” among others. These forward-looking statements are based on Applera Corporation’s current expectations. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, Applera Corporation notes that a variety of factors could cause actual results and experience of the Celera Genomics Group to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These factors include but are not limited to (1) operating losses are expected for the foreseeable future; (2) reliance on the Applied Biosystems Group’s emerging and unproven Knowledge Business for incremental future revenues to the Celera Genomics Group from CDS and the Celera Genomics Group’s related information assets; (3) unproven ability to discover, develop, or commercialize proprietary therapeutics; (4) reliance on existing and future collaborations, which may not be successful; (5) reliance on access to biological materials and related clinical and other information, which may be in limited supply or access to which may be limited; (6) reliance on scientific and management personnel having the technical background necessary for the Celera Genomics Group’s business; and (7) other factors that might be described from time to time in Applera Corporation’s filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Applera Corporation does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
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