Healthcare Industry News: Sequenom
News Release - February 20, 2007
Sequenom Names Financial Veteran Paul W. Hawran Chief Financial OfficerSAN DIEGO, Feb. 20 (HSMN NewsFeed) -- Sequenom, Inc. (Nasdaq: SQNM ) today announced that Paul W. Hawran, 54, has been appointed Chief Financial Officer effective April 1, 2007, and will report to Harry Stylli, Ph.D., President and Chief Executive Officer. Until April 1, Mr. Hawran will serve as a consultant to the Company assisting in financial, corporate development and investor relations functions. John Sharp will continue to serve in the position Vice-President, Finance. Mr. Hawran has resigned his position on the Sequenom board of directors and is replaced as Chairman of the audit committee by Harry F. Hixson, Jr., Chairman of the board of directors.
"We are pleased that Sequenom continues to attract high caliber and seasoned executives such as Paul," said Dr. Stylli. "Paul is ideally suited for this position and his hiring marks an important next step toward accomplishing our strategic objectives. We plan to call upon his extensive financial, strategic planning and management experience in the biotechnology industry to build upon our recent accomplishments and to assist us in growing our genetic analysis business and expanding into molecular diagnostic markets."
"Having served as a board member, I share management's vision and enthusiasm for Sequenom's growth opportunities and I look forward to working with the team in what I see as a promising and exciting future for the Company," said Mr. Hawran.
Mr. Hawran brings to Sequenom more than 30 years of experience in finance, accounting, tax, corporate and strategic planning, and more than 21 years of experience in the pharmaceutical and biopharmaceutical industries. Mr. Hawran served as the Chief Financial Officer of Neurocrine Biosciences, Inc. from 1993 to 2006. During his tenure at Neurocrine, and as an early founder of the company, Mr. Hawran was instrumental in planning, developing, and executing various financial and operational initiatives including raising over $400 million in equity and lease financing, maintaining complete accounting transparency, developing a comprehensive investor relations program, participating in or leading over a dozen corporate collaborations, completing the construction of approximately 300,000 square feet of laboratory and office space, and developing various internal infrastructure systems and procedures. Mr. Hawran currently serves as a member of the board of directors of Cytori Therapeutics, Inc. and is currently a senior advisor to Neurocrine, a position he will resign effective March 31, 2007.
Prior to Neurocrine, Mr. Hawran was Vice President and Treasurer at SmithKline Beecham Corporation, now GlaxoSmithKline plc, and he also served as Director Finance at Warner Communications, now Time Warner, Inc. He received a B.S. in finance from St. John's University and an M.S. in taxation from Seton Hall University. Mr. Hawran is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.
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 the Company's strategic objectives, plans, growing the Company's genetic analysis business, expanding into molecular diagnostic markets, the Company's growth opportunities, the Company's future, and development and commercialization of non-invasive prenatal genetic tests, 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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