MDCC Molecular Devices (MM)

Molecular Devices and Caliper Technologies Settle Patent Infringement Suit SUNNYVALE, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Molecular Devices Corporation today announced it has settled the patent infringement lawsuit filed against Molecular Devices by Caliper Technologies Corp. in 2002 involving Molecular Devices' IMAP products. In connection with the settlement, Molecular Devices and Caliper have entered into a nonexclusive license agreement pursuant to which Molecular Devices has agreed to pay to Caliper a one-time licensing fee as well as royalties based on future sales of IMAP products. Financial details of the settlement were not disclosed. "We are pleased to have concluded this matter on terms that will not be material to our business so we can focus our resources on developing and marketing products that will address the needs of our customers and facilitate growth in our business," stated Joseph D. Keegan, Ph.D., Molecular Devices' President and Chief Executive Officer. About Molecular Devices Corporation Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company's systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and combinatorial chemistry by facilitating the high-throughput and cost-effective identification and evaluation of drug candidates. The Company's solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs. This press release contains "forward-looking" statements, including statements related to the impact of the settlement on our business and future growth of this business. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Molecular Devices Corporation to differ materially from those indicated by these forward-looking statements, including, among others, risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2002 and its quarterly report on Form 10-Q for the quarter ended September 30, 2003. Molecular Devices Corporation does not undertake any obligation to update forward-looking statements DATASOURCE: Molecular Devices Corporation CONTACT: Tim Harkness of Molecular Devices Corporation, +1-408-747-3533 Web site: http://www.moleculardevices.com/

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