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Boise company expands into Japan – Sapidyne plans to at least double size of work force

A Boise biotechnology company is taking a much-awaited investment and expanding, opening an office in Japan and planning to double its number of employees this year.

Sapidyne Instruments Inc. http://www.sapidyne.com , which makes testing equipment for drug manufacturers and environmental monitoring, will launch its Japanese subsidiary, Sapidyne Japan, this summer. Executives have already started recruiting advanced-degree scientists and operational employees that will at least double its current staff of 11.

Julie Howard
The Idaho Statesman

http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20040507/NEWS0202/405070301/1029/NEWS02

The Japan office will account for three of the new positions.

"We have a handful of important relationships currently established in Japan, and see the subsidiary as the focal point to expand aggressively from that base," said Sapidyne President Steve Lackie.

Mark Jones, director of research instruments for Sapidyne, said increased interest from customers in Japan prompted the company to expand there first.

"Japan is fast emerging as a major market for biotechnology, pharmaceuticals, environmental sciences and basic life science research," said Jones.

Future expansion areas would be Europe and other countries in the Asia-Pacific region, executives said.

The firm, started nine years ago in Boise, has stayed small over the years but has among its client base some of the world’s largest pharmaceutical companies, including Eli Lilly & Co., Biogen and Genentech.

Encouraged by steady growth, the company last year began exploring financing to help it expand into other markets. Because Sapidyne is privately held, it did not disclose details of the investment, but said the financing involved the sale of equity to private investors in Idaho, Washington and Utah.

"It is still a difficult financing climate," said Pat Doneen, the firm’s chief financial officer. "We felt the best strategy was to align with a small group of private investors who have the expertise and wherewithal to help build an industry-leading company in the life sciences industry."

Doneen said company founders maintain a majority interest.

Sapidyne has customers in eight countries, including South Korea, Scotland and Ireland, as well as in the U.S.

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