SciQuest Announces Agreement with Array BioPharma for New Procurement Software
Spend Director and Requisition Manager to Streamline Overall Procurement Process
RESEARCH TRIANGLE PARK, N.C., January 14, 2004 — SciQuest, Inc. (NASDAQ: SQST) announced today that Array BioPharma has signed a multi-year license agreement for SciQuest’s Spend Director and Requisition Manager.
Founded in 1998, Array BioPharma is headquartered in Boulder, Colorado and employs over 250, including 184 scientists. The company will use SciQuest’s solutions to streamline its overall procurement process.
“We look forward to using SciQuest’s procurement software, which is expected to deliver cost savings through its comparative shopping tool and improved scientific productivity at Array,” said Mike Carruthers, CFO, Array BioPharma. “We anticipate a smooth integration with our existing ERP system.”
Array BioPharma plans to manage all non-fine chemical purchasing through SciQuest’s solutions, including providing their biology group with an efficient, cost-savings method for making purchasing decisions. These solutions include:
Spend Director – a multi-commodity supplier enablement and catalog management solution for organizations seeking to enhance their procurement processes. Spend Director helps increase on-contract spending and improve enterprise productivity.
Requisition Manager – a configurable requisitioning application that automates and streamlines requisition creation, submission and approval. Requisition Manager uses a powerful electronic approval workflow engine to automate even the most complex business processes, including budget confirmation and hazardous materials clearance. When used with Spend Director, the Requisition Manager assists employees in creating accurate requisitions to reduce order errors and speed fulfillment.
“More and more life science and biotech companies such as Array BioPharma are turning to SciQuest to help optimize their overall procurement system through our Supplier Relationship Management solutions,” said Stephen Wiehe, president & CEO at SciQuest. “With our on-demand solutions, Array will be able to quickly and easily integrate with hundreds of key suppliers and improve their existing procurement functions, increase on-contract spending and improve end-user productivity.”
About Array BioPharma
Array BioPharma is creating the next generation of orally active drugs by integrating the latest advances in chemistry, biology and informatics. Their drug development pipeline is focused primarily on cancer and inflammatory disease and includes many promising small molecule drugs that affect disease pathways with well-validated targets. Array also collaborates with leading pharmaceutical and biotechnology companies to invent and optimize drug candidates across a broad range of therapeutic areas. For more information on Array, please go to www.arraybiopharma.com.
About SciQuest
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SciQuest’s complete suite of modular applications helps to automate the source-to-settle process. When used with the SciQuest Supplier Network, these solutions reduce redundant tasks and maintain data integrity throughout the cycle of finding, acquiring and managing goods to increase efficiency, reduce cost and provide total spend visibility.
Many of the world’s leading pharmaceutical, biotechnology, chemical and academic organizations rely on SciQuest solutions such as Biogen, GlaxoSmithKline, Pfizer, Roche, Schering-Plough, Arizona State University, Indiana University, University of Michigan and University of Pennsylvania. SciQuest is headquartered in Research Triangle Park, NC. For more information about SciQuest, please visit www.sciquest.com or call +1-919-659-2100.
Statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties, including all statements regarding the Company’s customer momentum and sales execution, future revenues, opportunities for future growth, position for future success and future rewards for stockholders. For such statements, the Company claims the protection of the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995. The potential risks and uncertainties associated with these forward-looking statements could cause actual results to differ materially from those presented herein, and the reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements are discussed in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2003, filed with the Securities and Exchange Commission, under the caption “>
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Contacts:
Media Relations
Kristi Lee
SciQuest Media Relations
919-659-2406
klee@sciquest.com
Shawn Ramsey-Kroboth
SRK Communications
919-621-0737
shawn@srkcommunications.com
Investor Relations
Suzanne Miglucci
SciQuest Investor Relations 919-659-2148
smiglucci@sciquest.com
