Healthcare Industry News: Cytori Therapeutics
News Release - August 25, 2006
Paul W. Hawran Named to Sequenom Board of DirectorsSAN DIEGO, Aug. 25 (HSMN NewsFeed) -- Sequenom, Inc. (Nasdaq: SQNM ) today announced that financial executive Paul W. Hawran was appointed to the Company's board of directors effective August 21, 2006. Mr. Hawran will chair the audit committee.
"We are delighted to welcome Paul to our board," said Harry F. Hixson, Jr., Chairman of the Sequenom board of directors. "Paul brings Sequenom extensive financial, strategic planning and management experience in the biotechnology industry, making him a valuable addition to our board, and particularly our audit committee. We look forward to his oversight and support at this important juncture as we focus on growing our genetic analysis business and expanding into molecular diagnostic markets."
Mr. Hawran joined Neurocrine Biosciences, Inc. as Vice President and Chief Financial Officer in 1993 and has served as Executive Vice President and Chief Financial Officer since 2001 with responsibilities for strategic planning, finance, investor relations, human resources, information technologies and operations. He previously served as Vice President and Treasurer at SmithKline Beecham Corporation, as well as in various financial positions at Warner Communications, now Time Warner, Inc.
Mr. Hawran is also a member of Cytori Therapeutics, Inc.'s board of directors. He received an MS in taxation from Seton Hall University and BS in finance from St. John's University. He is a member of the American Institute of Certified Public Accountants, the California and Pennsylvania Institutes of Certified Public Accountants and the Financial Executives Institute.
"It's an honor to have been invited to join the board of Sequenom at this stage of the Company's development. With the addition of Dr. Stylli as CEO, Sequenom has refocused its strategic objectives and is poised to grow through the expansion of existing products and development of new products, which could create a great growth opportunity for the Company. I will be pleased and look forward to working with and assisting other members of Sequenom's board and the senior management team for what I believe to be a promising and exciting future for the Company," said Mr. Hawran.
Mr. Hawran's appointment brings board membership to eight. Mr. Hawran replaces prior audit committee chairman Dr. Hixson who continues to serve as Chairman of Sequenom's board of directors and a member of its compensation and nominating and corporate governance committees.
Sequenom is committed to providing the best genetic analysis products that translate genomic science into superior solutions for non-invasive prenatal testing, biomedical research, molecular medicine and agricultural applications. The Company's proprietary MassARRAY® system is a high-performance DNA analysis platform that efficiently and precisely measures the amount of genetic target material and variations therein. The system is able to deliver reliable and specific data from complex biological samples and from genetic target material that is only available in trace amounts. The Company has exclusively licensed intellectual property rights for the development and commercialization of non-invasive prenatal genetic tests for use with the MassARRAY system and other platforms.
Sequenom® and MassARRAY® are trademarks of SEQUENOM, Inc.
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding growing the Company's genetic analysis business, expanding into molecular diagnostic markets, expansion of existing products, development of new products, and the Company's growth opportunity, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with the Company's technologies, market acceptance of and demand for the Company's products, reliance upon the collaborative efforts of others, product development and commercialization, and other risks detailed from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K for the year ended December 31, 2005 and subsequent periodic reports. These forward-looking statements are based on current information that is likely to change and speak only as of the date hereof. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Sequenom undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
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