FREMONT, Calif., March 3 /PRNewswire-FirstCall/ -- WaferGen Biosystems, Inc. (OTC Bulletin Board: WGBS), a leading developer of state-of-the-art gene expression, genotyping, cell biology and stem cell research systems, today announced the promotion of two members of the company's management team. Kumar Kastury, Ph.D., director of assay development, has been promoted to vice president of assay development and John McEntee, director of engineering, has been promoted to associate vice president of engineering. The company also announced that Terry W. Osborn, Ph.D., MBA, chief operating officer, is leaving WaferGen to pursue other interests.
"John and Kumar have both made key contributions to WaferGen since joining the company. Considering their previous work and extensive industry expertise, both of these promotions are well-deserved," said Alnoor Shivji, chairman and chief executive officer. "At the same time, we would like to acknowledge the valuable service that Terry has provided WaferGen during his tenure with the company. We wish him the very best in his future pursuits."
As vice president of assay development, Dr. Kastury will serve as a key corporate interface with WaferGen's recently established Malaysian subsidiary. He will be responsible for fostering and managing the subsidiary's collaborative relationships while also overseeing the group's SmartChip(TM) Real-Time PCR System assay development activities, including the development of therapeutically-relevant assays and biomarkers. In his new role as associate vice president of engineering, Mr. McEntee will continue to be responsible for the engineering of the SmartChip Real-Time PCR System, while also coordinating and managing the activities of the company's manufacturing partners in Malaysia.
With extensive experience in the areas of gene expression and cell biology, Dr. Kastury has served as WaferGen's director of research and development since 2007. He joined WaferGen from Gen-Probe Inc. where he was as a senior staff scientist credited with establishing and managing more than ten clinical research collaborations with top oncology thought-leaders. In this role, he also oversaw the successful development of various assays designed to diagnose prostate cancer.
Mr. McEntee has served as WaferGen's director of engineering since 2007. He possesses broad expertise in the development of automated manufacturing equipment, particularly in advancing new technologies from the design stage to market-ready products. Prior to joining WaferGen, Mr. McEnteee held various management positions with Potter Drilling, Xyratex International and Agilent Technologies. At Agilent, he managed a team of engineers responsible for developing the company's microarray manufacturing capability and also led the company's effort to define an optimal automation strategy for the company's microarray technology platform.
WaferGen Biosystems, Inc. is a leader in the development, manufacture and sale of state-of-the-art systems for gene expression, genotyping, cell biology and stem cell research for the life science and pharmaceutical industries. The company is actively developing its SmartChip(TM) product for the gene expression and genotyping markets. SmartChip(TM) is being developed as the first whole genome, high throughput gene expression real-time polymerase chain reaction (PCR) platform and promises to deliver significant speed and cost advantages to researchers in the gene expression and genotyping markets. WaferGen currently markets its SmartSlide(TM) family of products to companies and organizations involved in stem cell and cell biology research. SmartSlide(TM), which was launched in 2006, represents the first fluidics integrated micro-incubators enabling cell biology and stem cell research. Representative SmartSlide(TM) customers include Harvard University, Mayo Clinic, Memorial Sloan-Kettering Cancer Center, Abbott Labs, and the National Institutes of Health (NIH).
To learn more about WaferGen, please visit the company's web site at http://www.wafergen.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995, as
amended. Such statements include statements containing words such as
"likely" or "expects" and words of similar import or statements of
management's opinion. For such statements, the company claims the
protection of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are not guarantees of future performance, are
based on certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the control of the
company. Actual results may differ materially from the expectations
contained in the forward-looking statements. Factors that may cause such
differences include the risks that: (i) the company may be unsuccessful in
commercially developing its products or in achieving market acceptance of
new and relatively unproven technologies; (ii) the company will need to
raise additional capital to meet its business requirements in the future
and the company may not be able to do so on reasonable terms or at all;
(iii) the company's proprietary intellectual property rights may not
adequately protect its products and technologies; and (iv) the company
expects intense competition in its target markets, including from companies
that have much greater resources than the company, and there can be no
assurance that the company will be able to compete effectively. More
detailed information about the company and the risk factors that may affect
the realization of forward-looking statements is set forth in the company's
filings with the Securities and Exchange Commission, including the
company's Quarterly Report on Form 10-Q filed with the SEC on November 13,
2007. Investors and security holders are urged to read this document free
of charge on the SEC's web site at http://www.sec.gov. The company does not
undertake to publicly update or revise its forward-looking statements as a
result of new information, future events or otherwise.
Vida Communication (On behalf of WaferGen)
Stephanie Diaz (investors) Tim Brons (media)
|SOURCE WaferGen Biosystems Inc.|
Copyright©2008 PR Newswire.
All rights reserved