(EMAILWIRE.COM, September 03, 2002 ) Cary, NC –– Coventor, the leading MEMS design tool and technology development company, announced today that it is spinning off its microfluidics and biotech intellectual property (IP) portfolio, consulting services, and IP development team to form an independent company, Teragenics. The new company, headed by former Coventor CTO, Dr. John Gilbert, will focus on the unique needs of the biotech market.

“Two years ago we began a concentrated investment in microfluidics and biotech IP development,” said Michael Jamiolkowski, Coventor President and CEO. “John and his team have created exciting technologies poised to drive significant inventions – technologies that warrant creation of a separate company dedicated to the needs of the biotech marketplace.”

Mr. Jamiolkowski and Dr. Gilbert co-founded Coventor as Microcosm Technologies in 1996. They have partnered since then as CEO and CTO, respectively.

Dr. Gilbert’s team has 11 patents pending for microfluidics and biotechnology. “Teragenics’ Picogenics™ biochip interfacing technology improves throughput rates by orders of magnitude from the current state-of-the-art. Our microfluidics flow control technology delivers solutions that are low cost and consume very low or no power,” said Dr. Gilbert, who will serve as Teragenics President and CEO.

Teragenics will deliver products through joint development partnerships with companies that have instrument systems or biotech applications and need Teragenics’ microfluidics technology to meet market requirements. Teragenics will serve existing Coventor customers in microfluidics and biotech development services.

The entire microfluidics software development team will stay with Coventor, which will continue to enhance and sell its microfluidics software as part of the CoventorWare toolset. CoventorWare microfluidics capabilities are critical for developing inkjet, dispensing, and other MEMS systems as well as biotech applications.

Teragenics has received initial funding from outside investors. Coventor retains an equity position in the new company. Dr. Gilbert will continue to serve Coventor as a technology advisor and on its Board of Directors.

About Coventor, Inc.
Coventor, Inc. provides CoventorWare™ software for MEMS device and system design, MEMS Development Platforms™ that can be integrated into systems, and Ready-to-Fab Solutions™ for placement directly into MEMS-enabled products. They also offer process characterization and product engineering. Coventor follows a fabless business model and teams with Preferred Partners who offer proven MEMS manufacturing capability. Coventor is a privately held company headquartered in Cary, NC. European headquarters is in Paris, France. Coventor also serves the Asia Pacific through regional distributors. For information see http://www.coventor.com.

About Teragenics, Inc.
Teragenics, Inc. is a biotech company offering products and services in microfluidics and high throughput micro-instrumentation based on its Picogenics™ technology platform. Teragenics delivers novel microfluidics technology into customer products through joint development partnerships with companies that have instrument systems or biotech applications and need Teragenics’ microfluidics technology to meet market requirements. Teragenics is a privately held company headquartered in Watertown, MA. For information contact jack-lapidas@teragenics.com.

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Teragenics, Inc.
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