9/6/2002 - Maxwell Technologies, announced that its PurePulse Technologies subsidiary has suspended operations. PurePulse develops systems that employ flashes of intense, broad-spectrum, pulsed light to purify water and inactivate pathogens in various bioprocessing applications.
Carl Eibl, Maxwell's chief executive officer, said that Maxwell will monitor several ongoing development relationships in which collaboration partners are using PureBright(R) in-flow systems, and that PurePulse will preserve its intellectual property and technology for a possible future restart or sale.
In December 2001, PurePulse licensed its PureBright technology to Culligan International Company for water purification applications, and in April 2002, it entered into an alliance with Millipore Corporation to market virus inactivation systems to biopharmaceutical manufacturers. Eibl noted that several other collaborators are evaluating PureBright in-flow systems in pilot-scale testing that may lead to future commercial relationships.
"Maxwell has made significant investments in PurePulse because we believe in the efficacy and commercial potential of the PureBright technology," Eibl said. "However, we cannot continue to subsidize PurePulse's operations through the regulatory approval processes that many potential customers must pursue before they can deploy the technology commercially. We have worked closely with the PurePulse team to attract outside funding or strategic partners, but, in the current environment, we have been unable to secure equity investment or achieve a business combination."
Eibl said that long-term alternatives for PurePulse will be evaluated as the Culligan and Millipore relationships begin to generate royalty revenue and other collaborators decide whether to secure commercial rights to the PureBright technology.
PureBright systems produce flashes of broad spectrum pulsed light 90,000 times more intense than sunlight at sea level to inactivate viruses (both enveloped and non-enveloped), bacteria, spores, fungi, protozoa and other microbial pathogens by selectively destroying nucleic acids, allowing intact recovery of functional proteins in the production of blood products, vaccines and biopharmaceuticals.
About Maxwell Technologies (www.maxwell.com)
Maxwell Technologies applies industry-leading capabilities in power and computing to develop and market electronic components and power and computing systems for customers in multiple industries, including transportation, telecommunications, consumer and industrial electronics, medical and aerospace.
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