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Press Release BioBid and DoveBid® Form Alliance Companies Create Dominant Online Service for Used Biotechnology and Pharmaceutical Capital Assets Menlo Park, CA (July 12, 2000) - BioBid.com announced that it has entered into an agreement with DoveBid, Inc., a leader in Webcast and online business-to-business capital asset auctions and valuation services. This agreement expands customer convenience at www.BioBid.com by extending current used equipment sale capabilities to include webcasting of large auction events. Visitors to BioBid.com are already able to search, view and bid on millions of dollars of used equipment. BioBid's users will now have the ability to both auction the contents of entire facilities, and also purchase goods at all of DoveBid's Webcast auctions. "Our goal has been to serve as an important component of asset management for the biotechnology and pharmaceutical industries. DoveBid is currently the leading auctioneer for used capital equipment in the world, so our alliance results in the number one online marketplace for pre-owned high-end capital equipment serving these dynamic industries. It's an unbeatable combination," said Bill Garner, MD, co-founder and Chief Executive Officer of BioBid. "DoveBid sells tens of millions of dollars of used capital equipment over the internet every month, " said Tim Reed, DoveBid's Vice President of Business Development. "BioBid is strategically positioned at the center of the online market for capital assets in the biotechnology and pharmaceutical industries. Teaming up with BioBid will extend the reach of DoveBid's auctions to the BioBid audience. At the same time, it will round out BioBid's current suite of auction services. This is a victory for both companies." About BioBid About DoveBid Contacts:
Ken Snoke
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