BIO Selects Chemdex As Preferred Provider Of E-Commerce Solutions

SEATTLE, Washington(May 18, 1999) The Biotechnology Industry Organization (BIO), the world's largest association representing the biotechnology industry, today selected Chemdex Corp. as its preferred provider of electronic commerce solutions.

Chemdex will offer BIO's more than 850 members its comprehensive, web-based procurement solution designed specifically for the biotechnology and life sciences industries. BIO members also will benefit from pricing discounts and BIO- and Chemdex-sponsored educational and marketing activities associated with electronic commerce.

"In our collective judgment, Chemdex is superior in functionality, scalability and adaptability. Chemdex offers BIO the best opportunity to provide our members with comprehensive, affordable and user-friendly search and ordering capabilities," said BIO President Carl B. Feldbaum.

Chemdex was selected from among five e-commerce providers who responded to BIO's requests for proposals. Under terms of a joint marketing agreement, Chemdex will contribute funds to support e-commerce education and other initiatives.

"The endorsement of Chemdex as BIO's preferred e-commerce provider validates the value of the Chemdex solution in providing the biotechnology industry with efficient, cost-effective electronic commerce solutions," said David Perry, CEO and co-founder of Chemdex. "Chemdex is quickly becoming the industry standard for web-based procurement of laboratory supplies."

The Biotechnology Industry Organization, of Washington, D.C., represents more than 850 biotechnology companies, academic institutions and state biotechnology centers in 47 states and 26 nations. BIO members are involved in the research and development of health care, agricultural and environmental biotechnology products.

Chemdex Corp., of Palo Alto, Calif., is the leading provider of electronic commerce solutions in the laboratory supply market, uniting buyers and suppliers in a single Web marketplace. With contracts to offer more than 400,000 products from over 160 leading suppliers, Chemdex provides the single product source for scientists and purchasing agents. In addition, the company's custom procurement solutions support purchase order approval and contract pricing for pharmaceutical and biotechnology companies, universities and government research labs.

Chemdex actively promotes and contributes to the development of e-commerce standards such as OBI, XML and XML/EDI to enable efficient purchasing solutions for all customer and supplier segments. Founded in September 1997, the company has assembled a world-class management team consisting of scientists, life science supply executives and Internet pioneers. Chemdex is funded by leading investment partners, including Kleiner Perkins Caufield & Byers, E.M. Warburg Pincus, CMG @Ventures (NASDAQ:CMGI), Bay City Capital, Galen Partners and J&J/H&Q