Mission News Management Advisory Board

MolecularWare Presents to Leading Venture Capitalists At 'C21 Ventures' Conference in Monterey, Calif.

CAMBRIDGE, Mass. May 31, 2001 - MolecularWare Inc., an emerging bioinformatics company, announced today that it has presented to leading venture capitalists from around the country its strategy to "revolutionize the backbone of drug discovery by bridging the gulf between workflow management and knowledge management in the new age of digital biology." The presentation was made at the `3rd Annual C21 Ventures: Investing in a New Healthcare Paradigm' conference in Monterey, Calif.
      C21 Ventures (formerly BioPartnering Ventures) provides an annual retreat for leading technology experts, investors, and company executives to meet informally to discuss the technology trends that are driving the creation of new hybrid companies.
      Richard P. Kivel, chief executive officer of MolecularWare, and Dr. Seth A. Taylor, founder and president, introduced participants to the Company's proprietary DigitalGENOME(TM) suite of software products and highlighted recent company developments, including sales to the company's first U.S.-based customer, The Whitehead Institute for Biomedical Research, located at the Massachusetts Institute of Technology (MIT).
      MolecularWare's DigitalGENOME(TM) suite of software products enables effective management of the staggering flow of information from genomics- and proteomics-related research. This patented technology allows scientists to receive massive quantities of data from various heterogeneous high-throughput instruments (such as liquid handling robots, microarraying robots, and microarray scanners) that have traditionally been next-to-impossible to capture automatically.
      MolecularWare was founded to create a new bioinformatics paradigm that effectively manages the transition of large amounts of information. The Company's mission is to create software that forges a link between the biotechnology researchers and the data generated from complex experiments taking place around the world. Drug-discovery research represents the best initial market for the Company's products due to recent adoption of cutting-edge automated research hardware and the technical sophistication of end-users. The subsequent integration of workflow management and knowledge management made possible by MolecularWare will usher in a whole new era of molecular medicine, as vast amounts of information gleaned from genomics research is easily transformed into diagnostic strategies that predict and prevent disease.
      MolecularWare is actively building multiple distribution channels and selling its products through hardware vendors to accelerate market penetration of its DigitalGENOME(TM) suite of products. In 1999, the company's founder, Dr. Seth Taylor, was the recipient of the prestigious "MIT $50K Entrepreneurship Competition Award." The Company's investors include the venture-capital firm Aspen Investment Group.