Covance Purchases Equity Stake in Caprion ... (oval. We are very pleased to...)

Covance Purchases Equity Stake in Caprion Proteomics

Date:12/16/2008

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"We are very pleased to be adding Caprion's solid scientific capabilities and leading biomarker technology platform to Covance's line up," said Deborah Tanner, Corporate Senior Vice President and President of Covance Central Laboratory Services. "We expect that our clients will have a keen interest in this additional capability given Caprion's impressive track record of accelerating biomarker validation for early drug safety and efficacy assessment."

"We are excited to join forces with Covance's market-leading central laboratory and world-class scientific talent," said Martin LeBlanc, President and CEO of Caprion. "Over the past five years, Caprion has established a large pharmaceutical customer base through employing our distinctive, best-in-class technology platform, which we expect will be further adopted in the market as a result of our alliance with Covance. Most importantly, we believe this alliance, which combines Covance's leading research services platform with Caprion's leading biomarker platform, will yield superior biomarker solutions for our clients."

Covance to establish BiomarkerCenter of Excellence in Greenfield

To further accelerate and support the growth of its biomarker business, Covance plans to establish a Biomarker Center of Excellence at its campus in Greenfield, Indiana.

Given the high need that exists in drug development for both discovery and development biomarker capabilities, Covance's Biomarker Center of Excellence will focus specifically on biomarker testing and validation and leverage the discovery support services of Caprion and of the services that already reside at Greenfield, including in vivo preclinical safety and efficacy assessment, and a variety of sophisticated preclinical imaging modalities. This combined with Covance's extensive capabilities in first-in-human trials, clinica
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Covance Purchases Equity Stake in Caprion ...(oval. We are very pleased to...)