Exhibit 99.8
FOR IMMEDIATE RELEASE
CONTACTS:
LJL BIOSYSTEMS, INC.: MEDIA RELATIONS:
LARRY TANNENBAUM FRIESTEDT INTERNATIONAL
CFO AND SENIOR VICE PRESIDENT SUSANNE FRIESTEDT
408-548-0542 619-223-8844
ltannenbaum@ljlbio.com friestintl@aol.com
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LJL BIOSYSTEMS, INC DISCUSSES PIVOTAL YEAR AND ENTRY INTO GENOMICS MARKET AT
CHASE HAMBRECHT & QUIST CONFERENCE
SUNNYVALE, CA - JANUARY 13, 2000 - LJL BioSystems, Inc. (NASDAQ: LJLB) today
presented the Company's success in addressing some of the most challenging
drug discovery problems with its platform of instrument systems and
consumables. Also, at the Chase Hambrecht & Quist Healthcare Conference, Lev
J. Leytes, Chairman and CEO of LJL discussed the Company's accomplishments in
extending its technology into the SNP (single nucleotide polymorphism)
genotyping market. The Company's HEFP-SNP(TM) platform is now being utilized
to genotype SNPs at leading genomics centers and research labs.
"We believe that the growing acceptance of our technologies by
industry-leading customers demonstrates that LJL's solutions have exciting
potential in the rapidly growing markets of genomics and drug discovery,"
commented Lev J. Leytes.
Earlier this week,. LJL announced preliminary record revenue of approximately
$4.0 million for the fourth quarter ended December 31, 1999. These initial
results compare to revenue of $1.6 million in the fourth quarter of 1998 and
represent more than a 140% increase over the year ago quarter and more than
50% growth from the third quarter of 1999.
During the fourth quarter, the company added several new customers, including
three major pharmaceutical companies. The Company shipped its 100th system
just a little more than a year and a half after commencing shipment of its
first High Throughput Screening (HTS) instrument. During this time, LJL has
begun to successfully penetrate its target customer base, and has sold
systems to 21 of the top 25 pharmaceutical companies in the world, with
approximately two-thirds of those customers ordering more than one unit.
ABOUT LJL BIOSYSTEMS, INC.
LJL BioSystems supplies infrastructure tools to pharmaceutical and biotech
companies engaged in the highly competitive search for new medicines in the
genomics era. LJL's family of proprietary products, marketed as CRITERION-TM-,
consists of instruments, consumables, and services. The Company intends to
establish CRITERION as the gold standard for addressing
many of the key bottlenecks in drug discovery. LJL's worldwide customers
include, among others, AstraZeneca, Bristol Myers Squibb, Eli Lilly and Company,
Johnson and Johnson, Merck and Co., Tularik, Inc., Millennium Pharmaceuticals,
Inc., DuPont Pharmaceuticals Company, Amgen, Inc., Monsanto Company, Pharmacia &
Upjohn and SmithKline Beecham. LJL is headquartered in Sunnyvale, California and
has a subsidiary in the United Kingdom. Additional information on LJL and
CRITERION technology can be found at www.ljlbio.com
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FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed
in this news release are forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act, including statements regarding
LJL's "expectations", "goals", "beliefs", "hopes", "designs", "intentions",
"strategies" or the like. Such statements are subject to risks and
uncertainties that could cause actual results to differ materially, including
such factors, among others, as the impact of competitive products and
pricing, the timely development and market acceptance of new products, the
ability to raise capital, concentration of HTS and Ultra-HTS markets, market
conditions, the mix between domestic and international sales, manufacturing
and cost of LJL's products, dependence on collaborative partners, the
enforcement of intellectual property rights, and uncertainties relating to
sole source suppliers, technological approaches, FDA and other regulatory
approvals. These and other risk factors are discussed in LJL's Report on Form
10-K, filed March 30, 1999, Reports on Form 10-Q filed May 14, 1999, August
16, 1999 and November 15, 1999 and Form S-3 dated July 22, 1999 (see, in
particular, Risk Factors and Management's Discussion and Analysis of
Financial Condition and Results of Operations). LJL disclaims any intent or
obligation to update these forward-looking statements. As a result of these
and other factors, LJL expects to experience significant fluctuations in
operating results, and there can be no assurance that LJL will become or
remain consistently profitable in the future.
For information on LJL BioSystems, Inc., contact Larry Tannenbaum, Chief
Financial Officer, at 408-548-0542 or ltannenbaum@ljlbio.com.
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