|
|
|
| Press Releases |
| LabVantage in the News 2002 |
|
|
|
| New Discovery Market Trend Creates Opportunity |
 |
Boston, MA August 13, 2001. LabVantage Positioned to be Market Leader in Scientific Information Production (SIP)
LabVantage Solutions, the leading global provider of Scientific Information Production™ software solutions for genomics, proteomics, high throughput screening and combinatorial chemistry, announced today at the IBC Drug Discovery Technology 2001 conference, that independent industry research indicates rapid growth in the area of Scientific Information Production (SIP) for drug discovery.
The August 2000 report on Bioinformatics from Front Line Strategic Management Consulting, Foster City, CA., says, "The biggest and most urgent bioinformatics need is to provide scientists with tools to effectively manage, integrate, and analyze their data from numerous sources".
SIP focuses on facilitating individual and integrated business and science processes to produce information for internal and external customers. Solutions that excel at enabling the business of delivering the science are needed.
"Scientific Information Production is the next phase in the maturing of the biotechnology market," said Jim Aurelio, president, LabVantage Solutions. "The discovery world has developed quite a bit over the past two years. The rapid change in business drivers is forcing today's leading biotechnology companies to focus on their core competencies and not try to be experts in all phases of their business operations. Companies need to move to outside suppliers for SIP solutions just like companies had to move from internally developed customer relationship management (CRM) solutions."
"We recently were retained to complete a study on the market opportunity in the area of Scientific Information Production and estimated a market size of approximately $750 million by 2006, with a CAGR of 54%. Clearly, this is a market space that will grow dramatically as companies' data issues explode," said James Thompson, partner, Front Line Strategic Management Consulting.
There is increasing pressure to speed the drug discovery and development process. As a result, companies are relying increasingly upon outside vendors for laboratory automation and informatics solutions. As companies transition drug discovery techniques from traditional methods to genomics-based techniques, several events are occurring:
| |
 |
There is an explosion of data. Companies need IT infrastructure and informatics solutions to manage the growing amounts of data. |
| |
|
New data streams are being created. New data management solutions are needed to deal with heterogeneous data and inherent incompatibility with current systems. |
"Today, SIP is mainly addressed by internal informatics groups. The key factors that determine the strength of a packaged solution are the solution's ability to address compatibility, flexibility and scalability issues. Given the rapid growth in heterogeneous data, the ability to organize and integrate disparate data types is of vital importance.
LabVantage Leads Scientific Information Production. Given the diverse data management/production needs of researchers, it is very important for any solution to function with minimal customization and be highly scalable," added Jim James Thompson. "LabVantage Sapphire™ Informatics 3.0 is the type of solution that will address all of these needs."
Scientific Information Production solutions take center stage. The age of SIP begins to take shape as companies move through business growth cycles and their science efforts move from mostly research activities to a balanced research and development -- information production -- model. As companies move from pure research, they outgrow their internally developed infrastructure solutions.
Management has two simple choices -- either continue to invest in the internally developed solution -- often at much higher level due to the increased volume of data and the increasing complexity of the science -- or locate a software supplier whose business is developing software. This scenario is no different than a company switching from an internally developed CRM solution to manage their sales force activities and customer activity.
SIP bottlenecks occur when companies are unable to provide their customers -- both internal and external -- with "product" in a timely manner. "It is exciting to be involved in helping industry heavy weights such as Rosetta Inpharmatics, Genetics Institute, Genaissance Pharmaceuticals and Monsanto Genomic Sequencing work through their Scientific Information Production efforts", said Jim Aurelio, president, LabVantage Solutions.
About LabVantage Solutions. LabVantage Solutions, a Chatterjee Group company, is the leader in Scientific Information Production. LabVantage has a complete suite of software for high throughput screening, genomics, proteomics, combinatorial chemistry and LIMS. The company also offers services that ensure customer success such as industry and technology consulting, implementation services, application training and extensive customer support services. LabVantage has provided laboratory information solutions to nearly 1,000 companies since 1981. For further information about LabVantage Solutions, please visit our Web site at www.labvantage.com.
Certain statements contained in this release may be forward-looking statements and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statement. |
|
|
|
|
|
