-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, B8P0TIQEReVz830vhu9fU63eJ5kL+6TmOsmRhnAZNJiadSA8e4hA2uMB/FJRMACu MmWO6248sf/DxoMNA2FtJg== 0001125282-03-003692.txt : 20030530 0001125282-03-003692.hdr.sgml : 20030530 20030530171140 ACCESSION NUMBER: 0001125282-03-003692 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030530 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030530 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ORCHID BIOSCIENCES INC CENTRAL INDEX KEY: 0001107216 STANDARD INDUSTRIAL CLASSIFICATION: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835] IRS NUMBER: 223392819 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30267 FILM NUMBER: 03726581 BUSINESS ADDRESS: STREET 1: 303 COLLEGE RD. EAST CITY: PRINCETON STATE: NJ ZIP: 08540 BUSINESS PHONE: 6097502200 MAIL ADDRESS: STREET 1: 303 COLLEGE RD. EAST CITY: PRINCETON STATE: NJ ZIP: 08540 8-K 1 b325235_8k.htm CURRENT REPORT Prepared and filed by St Ives Burrups

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

     ______________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

     ______________

Date of Report (Date of earliest event reported): May 30, 2003

ORCHID BIOSCIENCES, INC.
(Exact name of registrant as specified in its charter)

Delaware 000-30267 22-3392819
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

     

4390 US ROUTE ONE, PRINCETON, NJ 08540
(Address of principal executive offices) (Zip Code)

 

     Registrant’s telephone number, including area code: (609) 750-2200

Not Applicable
     (Former name or former address, if changed since last report)

Page 1 of 4 pages


Item 5.   Other Events.

On May 30, 2003, the Registrant publicly disseminated a press release announcing that the Registrant has realigned its GeneShield business unit. The information contained in the press release is incorporated herein by reference and filed as Exhibit 99.1 hereto.

Item 7.   Financial Statements and Exhibits.

(c) Exhibits  
     
  99.1 The Registrant's Press Release dated May 30, 2003.

 

 

 

Page 2 of 4 pages


     SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  

    ORCHID BIOSCIENCES, INC.
                    (Registrant)
 Date: May 30, 2003    
   By: /s/Andrew P. Savadelis
    Andrew P. Savadelis
     Senior Vice President and Chief Financial
Officer
     
     
     

  

 

   

     

    

 

Page 3 of 4 pages


EXHIBIT INDEX

Exhibit
Number
Description
   
99.1 The Registrant's Press Release dated May 30, 2003.

    

 

 

   

    

Page 4 of 4 pages


EX-99.1 3 b325235_ex99-1.htm REGISTRANT'S PRESS RELEASE DATED MAY 30, 2003 Prepared and filed by St Ives Burrups

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:
Orchid BioSciences, Inc.
(609) 750-2200
Tracy J. Henrikson
Director, Corporate Communications

ORCHID BIOSCIENCES REALIGNS ITS GENESHIELD UNIT
--More Flexible Strategy Facilitates Multiple Pilot Program Approaches--

PRINCETON, N.J., May 30, 2003 — Orchid BioSciences, Inc. (Nasdaq: ORCH), today announced that it has implemented a strategic realignment of its Orchid GeneShield unit. Orchid GeneShield is applying pharmacogenetic tools to develop personalized medicine services that will enable individuals and their physicians to reduce the risk of adverse effects from medications. The realignment is expected to enable Orchid GeneShield to launch and pilot test a variety of targeted programs to assess the potential of different market segments and models while also reducing operating costs.

“Orchid is committed to leadership in commercializing programs to make the benefits of pharmacogenetics and personalized medicine widely available,” said George Poste, D.V.M., Ph.D., chairman of Orchid. “By moving to a more flexible and leaner approach for our Orchid GeneShield business, we believe that we are better equipped to assess which business models have the greatest potential in this exciting marketplace that is just beginning to emerge. This strategy also is consistent with our ongoing drive to build market leadership in high growth genoprofiling segments rapidly and cost-effectively.”

As part of the realignment, Orchid reduced staffing and is consolidating activities in its Orchid GeneShield business.

About Orchid BioSciences
Orchid BioSciences is the leading provider of services and products for profiling genetic uniqueness. Orchid’s interlocking strategic business units address distinctive markets that together represent a unique balance of established, predictable growth, such as forensic and paternity DNA testing, and large upside potential, like pharmacogenetics-based personalized healthcare. All leverage Orchid’s network of accredited genotyping laboratories, its leading technologies and its expertise in genetic analysis. Orchid provides identity genomics testing for forensics and paternity through Orchid Cellmark and Orchid GeneScreen, and also provides public health genotyping services. Orchid GeneShield is developing pharmacogenetics-based programs designed to accelerate the adoption of personalized healthcare. More information on Orchid can be found at www.orchid.com.


All statements in this press release that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act as amended, including statements regarding Orchid’s expectation that GeneShield’s application of pharmacogenetic tools to develop personalized medicine services will enable individuals and their physicians to reduce the risk of adverse effects from medications. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technologies, product development, manufacturing, market acceptance, cost and pricing of Orchid products and services, dependence on collaborations and partners, regulatory approvals, competition, intellectual property of others, patent protection, litigation, Orchid’s ability to obtain additional financing and Orchid’s listing on the Nasdaq National Market. These risks and other additional factors affecting Orchid’s business are discussed under the headings “Risks Related to Our Business,” “Risks Related to the Biotechnology Industry” and “Risks Associated with Our Common Stock” in Orchid’s Annual Report on Form 10-K for the year ended December 31, 2002, filed with the Securities and Exchange Commission. Orchid expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Orchid’s expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based, except as may be required by law.

# # #

 

 


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-----END PRIVACY-ENHANCED MESSAGE-----