SCIEX Launches the Next Generation of Data Independent Acquisition With Zeno SWATH DIA at ASMS 2022

Enabling biomarker discovery and translation through increased sensitivity, throughput and robustness.

SCIEX , a global leader in life science analytical technologies, and a company of Danaher Corporation (NYSE:DHR), launches Zeno SWATH DIA, a significant step forward in biomarker discovery and translation workflows.

Zeno SWATH DIA is the ultimate digital record of a sample that can enable researchers to discover more potential biomarkers to be used in the development of clinical tests and in the discovery of new therapies. By combining the sensitivity and robustness of the ZenoTOF 7600 system and the high dynamic range of Zeno SWATH DIA, researchers can now routinely quantify up x 2 the number of cell and plasma proteins than previously possible with SWATH approaches. The ability to quantify large numbers of lesser abundant proteins that were previously undetectable means that more potential biomarkers can be taken through to verification.

To enable translational research, this performance can be delivered at large scale. Run-times can be shortened to as little as 5 minutes with minimal compromise in proteome coverage. For the first time, large population-scale proteomic studies can be achieved in a matter of weeks, without compromising on the depth of information obtained. This means the potential for the development of clinical tests for early detection of disease is vastly increased.

"[With Zeno SWATH DIA] we can do things with higher sensitivity, faster," said Markus Ralser, Director of the Institute of Biochemistry, Charité - Universitätsmedizin Berlin and group leader at The Francis Crick Institute, London. "If we can do things faster it means we can measure bigger sample sets. In clinical research this means that we can measure samples from more people at more timepoints."

The sensitivity of Zeno SWATH DIA also enables large numbers of proteins to be quantified from sample loadings up to 10-fold lower than previous SWATH approaches. Lower sample loads mean reduced cost per sample in large scale studies, and minimized sample consumption from expensive in vivo models during drug development. Additionally, it creates opportunities for large population-scale sample collection methods such as patient-centric microsampling devices.

Markus Ralser added, "The higher sensitivity helps to reduce costs. In a 100,000 sample, project cost is very important. With Zeno SWATH DIA we can now do studies that we couldn't do before due to cost alone."

"To be able to quantify proteins at low abundance, over and over again, across large sample sets is the difference between a research curiosity and translational data with the potential to influence how patients are treated," said Joe Fox, President at SCIEX. "The robustness of this approach is what will truly enable biomarker-centric approaches to medicine, driving a new era in translational OMICS research. Zeno SWATH DIA will enable the discovery of new biomarkers that allow for new therapies to be developed faster, and it has the potential to uncover the information to build precision medicine approaches."

To learn more about Zeno SWATH DIA, see www.sciex.com/zenoswathdia .

About SCIEX

SCIEX delivers solutions for the precision detection and quantification of molecules, empowering our customers to protect and advance the wellness and safety of all. We have been at the forefront of the field of mass spectrometry for 50 years. From the launch of the first ever commercially successful triple quadrupole in 1981, we have developed groundbreaking technologies and solutions that influence life-changing research and outcomes.

Today, as part of the Danaher Corporation (NYSE:DHR) family of global science and technology companies, we continue to pioneer robust solutions in mass spectrometry and capillary electrophoresis. Our customers can quickly respond to environmental hazards, better understand biomarkers relevant to disease, improve patient care in the clinic, bring relevant drugs to market faster and keep food healthier and safer.

That's why thousands of life science experts around the world choose SCIEX to get the answers they can trust to better inform critical decisions that positively impact lives.

For more information, visit sciex.com .

Let's connect: Twitter , LinkedIn , Facebook , and Instagram .

Advances in human wellness depend on the power of precise science.

The SCIEX clinical diagnostic portfolio is For In Vitro Diagnostic Use. Rx Only. Product(s) not available in all countries. For information on availability, please contact your local sales representative or refer to www.sciex.com/diagnostics . All other products are For Research Use Only. Not for use in Diagnostic Procedures.

Trademarks and/or registered trademarks mentioned herein, including associated logos, are the property of AB Sciex Pte. Ltd. or their respective owners in the United States and/or certain other countries (see www.sciex.com/trademarks ).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220606005301/en/

Lulu VanZandt
Senior Manager, Brand, Public Relations and Social Media
lulu.vanzandt@sciex.com
M: +1 (508) 782-9484

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Danaher Corporation AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
($ and shares in millions, except per share amounts)
(unaudited)

	Three-Month Period Ended
	March 31, 2023	April 1, 2022
Sales	{replace1}nbsp; 7,167	{replace1}nbsp; 7,688
Cost of sales	(2,797)	(2,983)
Gross profit	4,370	4,705
Operating costs:
Selling, general and administrative expenses	(2,147)	(2,092)
Research and development expenses	(429)	(441)
Operating profit	1,794	2,172
Nonoperating income (expense):
Other income (expense), net	24	(20)
Interest expense	(68)	(54)
Interest income	48	1
Earnings before income taxes	1,798	2,099
Income taxes	(348)	(374)
Net earnings	1,450	1,725
Mandatory convertible preferred stock dividends	(21)	(41)
Net earnings attributable to common stockholders	{replace1}nbsp; 1,429	{replace1}nbsp; 1,684
Net earnings per common share:
Basic	{replace1}nbsp; 1.96	{replace1}nbsp; 2.35
Diluted	{replace1}nbsp; 1.94	{replace1}nbsp; 2.31
Average common stock and common equivalent shares outstanding:
Basic	729.4	716.3
Diluted	737.2	737.7

Danaher Corporation RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Diluted Net Earnings Per Common Share and Adjusted Diluted Net Earnings Per Common Share ¹

	Three-Month Period Ended
	March 31, 2023	April 1, 2022
Diluted Net Earnings Per Common Share (GAAP)	{replace1}nbsp; 1.94	{replace1}nbsp; 2.31
Amortization of acquisition-related intangible assets ^A	0.52	0.52
Fair value net (gains) losses on investments ^B	(0.03)	0.03
Separation costs ^C	0.04	—
Loss on partial settlement of a defined benefit plan ^D	—	0.01
Impairments and other charges ^E	—	0.06
Tax effect of the above adjustments ^F	(0.10)	(0.11)
Discrete tax adjustments ^G	(0.01)	(0.06)
Adjusted Diluted Net Earnings Per Common Share (Non-GAAP)	{replace1}nbsp; 2.36	{replace1}nbsp; 2.76

	Three-Month Period Ended
	March 31, 2023	April 1, 2022
Pretax	{replace1}nbsp; 384	{replace1}nbsp; 386
After-tax	310	311

	Three-Month Period Ended
	March 31, 2023	April 1, 2022
Pretax	{replace1}nbsp; (22)	{replace1}nbsp; 24
After-tax	(17)	18


^C	Costs incurred in the three-month period ended March 31, 2023 related to preparation for the anticipated separation of the Company's Environmental & Applied Solutions business primarily related to professional fees for legal, tax, finance and information technology services and duplicative general and administrative costs ($28 million pretax as reported in this line item, $25 million after-tax).

^D	Loss on a partial settlement of a defined benefit plan as a result of the transfer of a portion of the Company's non-U.S. pension liabilities related to one defined benefit plan to a third-party in the three-month period ended April 1, 2022 ($10 million pretax as reported in this line item, $9 million after-tax).

^E	Charges incurred primarily related to impairments of accounts receivable and inventory as well as accruals for contractual obligations in Russia incurred in the three-month period ended April 1, 2022 ($43 million pretax as reported in this line item, $40 million after-tax).

^F	This line item reflects the aggregate tax effect of all nontax adjustments reflected in the preceding line items of the table. In addition, the footnotes above indicate the after-tax amount of each individual adjustment item. Danaher estimates the tax effect of each adjustment item by applying Danaher's overall estimated effective tax rate to the pretax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment. The MCPS dividends are not tax deductible and therefore the tax effect of the adjustments does not include any tax impact of the MCPS dividends.

^G	Discrete tax adjustments and other tax-related adjustments for the three-month period ended March 31, 2023, include the impact of net discrete tax benefits of $5 million related primarily to excess tax benefits from stock-based compensation and the release of reserves for uncertain tax positions due to the expiration of statutes of limitation, partially offset by tax costs related to the separation of the Environmental & Applied Solutions business and changes in estimates associated with prior period uncertain tax positions. Discrete tax adjustments and other tax-related adjustments for the three-month period ended April 1, 2022, include the impact of net discrete tax benefits of $41 million related primarily to excess tax benefits from stock-based compensation and the changes in estimates associated with prior period uncertain tax positions.


¹	Each of the per share adjustment amounts above have been calculated assuming the Mandatory Convertible Preferred Stock ("MCPS") had been converted into shares of common stock.

Notes to Reconciliation of GAAP to Non-GAAP Financial Measures

^A	Amortization of acquisition-related intangible assets in the following historical periods (only the pretax amounts set forth below are reflected in the amortization line item above):


^B	Net (gains) losses on the Company's equity and limited partnership investments recorded in the following historical periods (only the pretax amounts set forth below are reflected in the fair value net (gains) losses on investments line above):

Average and Adjusted Average Common Stock and Common Equivalent Diluted Shares Outstanding
(shares in millions)

	Three-Month Period Ended
	March 31, 2023	April 1, 2022
Average common stock and common equivalent shares outstanding - diluted (GAAP) ²	737.2	737.7
Converted shares ³	8.6	8.6
Adjusted average common stock and common equivalent shares outstanding - diluted (non-GAAP)	745.8	746.3


²	The impact of the MCPS Series B calculated under the if-converted method was anti-dilutive for the three-month periods ended March 31, 2023 and April 1, 2022, and as such 8.6 million shares underlying the MCPS Series B were excluded from the calculation of diluted EPS in both periods and the related MCPS Series B dividends of $21 million were included in the calculation of net earnings for diluted EPS for the periods.

	The impact of the MCPS Series A calculated under the if-converted method was dilutive for the three-month period ended April 1, 2022, and as such 11.0 million shares underlying the MCPS Series A were included in the calculation of diluted EPS in the three-month period and the related MCPS Series A dividends of $20 million were excluded from the calculation of net earnings for diluted EPS.

³	The number of converted shares assumes the conversion of all MCPS and issuance of the underlying shares applying the "if-converted" method of accounting and using an average 20 trading-day trailing Volume Weighted Average Price ("VWAP") of $246.26 and $281.28 as of March 31, 2023 and April 1, 2022, respectively.

Sales (Decline) Growth by Segment, Core Sales (Decline) Growth by Segment and Base Business Core Sales Growth by Segment

	% Change Three-Month Period Ended March 31, 2023 vs. Comparable 2022 Period
		Segments
	Total Company	Biotechnology	Life Sciences	Diagnostics	Environmental & Applied Solutions
Total sales (decline) growth (GAAP)	(7.0) %	(16.0) %	2.5 %	(10.0) %	5.0 %
Impact of:
Acquisitions/divestitures	— %	— %	(1.0) %	— %	(0.5) %
Currency exchange rates	3.0 %	3.0 %	3.5 %	2.5 %	2.0 %
Core sales (decline) growth (non-GAAP)	(4.0) %	(13.0) %	5.0 %	(7.5) %	6.5 %
Impact of COVID-19 related testing, vaccines and therapeutics	10.0 %	+Low-teens	+Low-single digit	+High-teens	— %
Base business core sales growth (non-GAAP)	6.0 %	Flat	+High-single digit	+Low-double digit	6.5 %

Forecasted Core Sales (Decline) Growth and Base Business Core Sales Growth

The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines.

	% Change Three-Month Period Ending June 30, 2023 vs. Comparable 2022 Period	% Change Year Ending December 31, 2023 vs. Comparable 2022 Period
Core sales (decline) growth (non-GAAP)	-High-single digit	-High-single digit
Impact of COVID-19 related testing, vaccines and therapeutics	+Low-double digit	+Low-double digit
Base business core sales growth (non-GAAP)	+Mid-single digit	+Mid-single digit

Operating Profit Margins and Year-Over-Year Core Operating Margin Changes

			Segments
		Total Company	Biotechnology	Life Sciences	Diagnostics	Environmental & Applied Solutions
Three-Month Period Ended April 1, 2022 Operating Profit Margins (GAAP)		28.30 %	36.10 %	19.10 %	33.50 %	20.30 %
	First quarter 2023 impact from operating profit margins of businesses that have been owned for less than one year	(0.15)	(0.15)	(0.45)	—	0.15
	First quarter 2022 impairments of accounts receivable and inventory as well as accruals for contractual obligations in Russia	0.55	0.60	1.45	0.10	0.10
	First quarter 2023 costs incurred related to preparation for the anticipated separation of the Company's Environmental & Applied Solutions business	(0.40)	—	—	—	—
Year-over-year core operating profit margin changes for the first quarter 2023 (defined as all year-over-year operating profit margin changes other than the changes identified in the line items above) (non-GAAP)		(3.30)	(4.55)	(1.30)	(5.10)	3.95
Three-Month Period Ended March 31, 2023 Operating Profit Margins (GAAP)		25.00 %	32.00 %	18.80 %	28.50 %	24.50 %

Cash Flow and Free Cash Flow
($ in millions)

	Three-Month Period Ended		Year-over-Year Change
	March 31, 2023	April 1, 2022	Year-over-Year Change
Total Cash Flows:
Net cash provided by operating activities (GAAP)	{replace1}nbsp; 1,947	{replace1}nbsp; 1,968
Total cash used in investing activities (GAAP)	{replace1}nbsp; (304)	{replace1}nbsp; (503)
Total cash used in financing activities (GAAP)	{replace1}nbsp; (262)	{replace1}nbsp; (274)

Free Cash Flow:
Net cash provided by operating activities (GAAP)	{replace1}nbsp; 1,947	{replace1}nbsp; 1,968	~ (1.0)%
Less: payments for additions to property, plant & equipment (capital expenditures) (GAAP)	(275)	(250)
Plus: proceeds from sales of property, plant & equipment (capital disposals) (GAAP)	—	2
Free cash flow (non-GAAP)	{replace1}nbsp; 1,672	{replace1}nbsp; 1,720	~ (3.0)%

Contacts:
Erika Winkels	Ryan Weispfenning
Public Relations	Investor Relations
+1-763-526-8478	+1-763-505-4626

Investor Contact:		Media Contact:
Garen Sarafian		Katie Savastano
ir@bauschhealth.com		corporate.communications@bauschhealth.com
877-281-6642 (toll-free)		(908) 569-3692

SCIEX Launches the Next Generation of Data Independent Acquisition With Zeno SWATH DIA at ASMS 2022

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Mark Gorelick – Chief Product Officer

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