Celera Genomics, a PE Corporation business, announced today that the company has purchased the Panther(TM) technology from Molecular Applications Group (MAG), Palo Alto, California.

Panther is a powerful software tool designed for rapid and accurate determination of gene and
protein function. Panther's software is focused in two key areas -- remote homolog detection and
protein function classification. As part of the agreement, a key group of bioinformatics experts who developed the Panther technology will transfer to Celera.

As Celera continues sequencing the human genome, an important next step is the understanding of both gene and protein function. The sophisticated Panther algorithms developed by MAG scientists allow Celera's subscribers access to crucial information derived from the genomic sequencing data.

This should ensure that medically significant gene targets are chosen, potentially reducing the time and cost of drug development. Using evolutionary analysis across species, Panther technology provides a very accurate classification of protein function.

"Panther can be used to create libraries of protein families for medically important targets, identify
key residues involved in their function, and predict the function of orphan targets. The addition of
this technology, along with key members of the MAG research team, will complement the
impressive bioinformatics team assembled at Celera, and strengthen our ability to build value added data-mining capabilities for our customers,'' said Anthony Kerlavage, Ph.D., senior director of bioinformatics resources.

"We are very happy about the sale of Panther to Celera, which recognizes the value of our protein
function prediction technology. One of our major goals was to get this technology into the hands of a company like Celera, which is seen as a clear leader in the genomics arena,'' said Debbie Yu, M.D., MAG's acting president and CEO.

PE Corporation currently comprises two operating groups. Celera Genomics Group, headquartered in Rockville, Maryland, intends to become the definitive source of genomic and related medical information. PE Biosystems Group, headquartered in Foster City, Calif., and with sales of $1.2 billion during fiscal 1999, develops and markets instrument-based systems, reagents, software, and contract related services to the life science industry and research community.

Company news release
N2346