Genzyme Selects Nextance for Enterprise Contract Management

Business Wire, Feb 18, 2003

Business Editors & High-Tech/Health/Medical Writers

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Feb. 18, 2003

Nextance, Inc., a leading provider of enterprise software for enterprise contract management and related business processes, today announced that Genzyme Corp. has chosen Nextance for the management of their contracts and related commitments.

Genzyme, headquartered in Cambridge, Mass., is one of the world's largest and most well established biotechnology companies with nearly 6,000 employees working in 40 countries. Founded in 1981, Genzyme generates more than $1 billion in annual consolidated revenue from its products and services.

"Genzyme is dedicated to making a positive impact on the lives of patients with difficult diseases. This mission demands a commitment to excellence that extends across the company -- from our clinical trial activities to our relationships with collaborators, distributors and suppliers. Maintaining control of our contracts and the associated rights and obligations over the life of each contract is an important part of our operations," said Gerald Quirk, managing corporate counsel of Genzyme.

Nextance will provide Genzyme with an enterprise contract management system that enables visibility into the contracts, terms, and commitments across the enterprise and delivers significant capabilities in compliance monitoring and management.

"We are extremely pleased to be working with Genzyme," said Kirk Krappe, president and CEO of Nextance. "Their achievements as a company place them in a very select group in their industry. They and other leading companies who have chosen to implement our software require enterprise-grade solutions, and Nextance's unique XML architecture allows us to add rapid and significant value to these organizations."

About Nextance, Inc.

Nextance, Inc. is a leading enterprise software firm providing applications that assist corporations and public entities in better managing their contracts, commitments, and supporting business processes. Companies using Nextance software gain control over their contracts, rights, and obligations and realize increased revenues, reduced expenses, and reduced contractual risk. Nextance is privately held and is headquartered in Redwood City, Calif. Additional information about Nextance is available at http://www.nextance.com.

Nextance(TM) is a trademark of Nextance, Inc. All other company names mentioned herein may be the trademarks of their respective owners.