Proteome Systems, a leading proteomics technology and discovery company, and Itochu Corporation, an integrated and diversified Japanese company, announced the establishment of a joint venture to launch "Proteome Systems Japan".

The new venture will provide top level proteomics discovery services to Japanese companies, universities and institutions doing proteomics research in the pharmaceutical, biotechnology, cosmetics, agriculture and research industries. Proteome Systems Japan's discovery services have the potential to accelerate and optimize proteomics research outcomes and will be powered by Proteome Systems' bioinformatic tools and its newly released integrated discovery platform, ProteomIQ.

Dr Keith Williams, CEO of Proteome Systems, said: "We see the Japanese market as being one of the future leaders in the adoption of proteomics in their research and discovery base. The Japanese science community has a strong history in protein science and is well positioned to capitalize on this background by using proteomics to enhance and optimize their research and development outcomes."

"Following the valuable alliance with Shimadzu Corporation, Proteome Systems has additionally chosen to partner with Itochu, a leading Japanese global scale trading company with a strong focus on information technologies for further unlocking of the value in the proteomics market in Japan. Itochu understands and is committed to the market opportunity for high quality proteomics services which is being driven in large part by the convergence of information technologies with new tools for proteomics research. This partnership will compliment the strategic collaboration for the development of new generation and novel instrumentmentation for proteomics research between Proteome Systems and Shimadzu Corporation. We believe the combination of Itochu,

Proteome Systems and our network of technology alliances including Shimadzu, IBM, Millipore, Sigma and ThermoFinnigan will be a powerful force in the proteomics market in Japan," said Dr Williams.

Mr. Akira Yokota, senior managing director of Itochu Corporation, said "We are delighted to have the opportunity to work together with one of the most experienced proteomics companies. Itochu has already launched its own Bioinformatic Center, which provides drug discovery support services, in alliance with Japanese pharmaceutical companies. We are confident that the combination of Proteome Systems expertise in proteomics technology and discovery and Itochu's experience in information technology will see our joint venture be the first market leader in the Japanese proteomics market. Proteome Systems Japan will be launched in July 2002 and will operate from Tokyo. Proteome Systems and Itochu will support the venture with senior executives focused solely on the Japanese market.