MolecularWare Sponsors Biotech Celebration

CAMBRIDGE, Mass., August 22, 2002 - MolecularWare Inc. today joined other local biotech organizations in sponsoring the first annual Biotech Celebration in Kendall Square. Hosted by the MIT Entrepreneurship Center (http://entrepreneurship.mit.edu) and the Harvard-MIT Division of Health Science and Technology/MIT Sloan Biomedical Enterprise Program (http://hst.mit.edu/bep), the event drew more than 600 scientists, academicians and businesspeople to celebrate the synergies of the local biotech corridor.

"We owe our birth to the creativity of MIT and our continuing existence to the vibrancy of Kendall Square," said CEO Richard P. Kivel. "We gain access to world-class research, top-notch people and leading-edge customers. So, we’re honored to participate in this event, which celebrates innovation and creative minds."

Dozens of biotech related companies are concentrated in the blocks surrounding the Massachusetts Institute of Technology (MIT). Speakers called this “the Kendall Square biotech phenomenon.” Those addressing the invited guests, who gathered to enjoy refreshments and meet one another under an outdoor tent, included MIT President Charles M. Vest and executives from Biogen, Inc. and Genzyme Corp.

MolecularWare, which got its start after winning the MIT $50K Entrepreneurship Competition in 1999, was a Silver Sponsor of the event.

For more information, please contact: Anne McCrory, Media Relations MolecularWare, Inc. Richard P. Kivel, CEO MolecularWare Inc.