Transgenomic Announces Executive Changes
Paul Kinnon Named President, Chief Executive Officer and Director
OMAHA, Neb. -- September 30, 2013
Transgenomic, Inc. (OTCBB: TBIO), a global biotechnology company advancing
personalized medicine in cardiology, oncology, and inherited diseases through
diagnostic tests as well as clinical and research services, today announced
that Paul Kinnon has been named President, Chief Executive Officer and a
Director, replacing Craig J. Tuttle, effective today.
Mr. Kinnon brings over two decades of business and scientific leadership in
the biotechnology and pharmaceutical industries to Transgenomic, with a proven
track record of developing and launching life science products. Most recently,
he has provided commercial and strategic consultancy services to a variety of
life science companies and investors, including Transgenomic. With broad
experience covering clinical diagnostic, core life science research and
applied markets, his appointment strengthens the executive leadership team and
adds significant commercial, operational, and scientific expertise.
Rodney S. Markin, M.D., Ph.D., Chairman of Transgenomic commented: “Paul has a
demonstrable history of success in building teams, forming strategic
partnerships and leading global organizations. He has also played a pivotal
role in the successful growth and development of many innovation-driven
companies. We anticipate that the Board’s appointment of Paul as CEO will
allow Transgenomic to leverage the Company’s leading assets, talent and
business partners.” Dr. Markin added: “We thank Craig for his service to the
Company and wish him well in his future endeavors.”
“Transgenomic is an exciting story, with a lot of potential for growth,
particularly in the area of innovative genetic testing and services,” said Mr.
Kinnon. “We have clear strengths in our tools, technologies, world class
clinical and research services, and a terrific team of motivated people. I
look forward to leading the Transgenomic team as we refine and implement
strategies designed to better addressour many promising market opportunities
and create value for all of our stakeholders.”
Before joining Transgenomic, Mr. Kinnon was President and CEO of ZyGEM
Corporation Limited, which he transformed from a local New Zealand reagent
firm into a global company developing breakthrough analytic systems. Mr.
Kinnon joined ZyGEM in 2007 from Invitrogen Corp. (now Life Technologies),
where he held the positions of Vice President of Global Strategic Alliances
and Vice President and General Manager of the Applied Markets Business Unit.
Previously, Mr. Kinnon held business, sales and marketing roles of increasing
responsibility at Guava Technologies, Cellomics, and other life science
About Transgenomic, Inc.
Transgenomic, Inc. (www.transgenomic.com) is a global biotechnology company
advancing personalized medicine in cardiology, oncology, and inherited
diseases. The Company has three complementary business divisions: Clinical
Laboratories, Pharmacogenomic Services and Diagnostic Tools, which provide
specialized diagnostic tests, contract research services for drug development,
and equipment, reagents and other consumables for clinical and research
applications in molecular testing and cytogenetics.
Certain statements in this press release constitute “forward-looking
statements” of Transgenomic within the meaning of the Private Securities
Litigation Reform Act of 1995, which involve known and unknown risks,
uncertainties and other factors that may cause actual results to be materially
different from any future results, performance or achievements expressed or
implied by such statements. Forward-looking statements include, but are not
limited to, those with respect to management's current views and estimates of
future economic circumstances, industry conditions, company performance and
financial results, including the ability of the Company to grow its
involvement in the diagnostic products and services markets. The known risks,
uncertainties and other factors affecting these forward-looking statements are
described from time to time in Transgenomic's filings with the Securities and
Exchange Commission. Any change in such factors, risks and uncertainties may
cause the actual results, events and performance to differ materially from
those referred to in such statements. Accordingly, the Company claims the
protection of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995 with respect to all
statements contained in this press release. All information in this press
release is as of the date of the release and Transgenomic does not undertake
any duty to update this information, including any forward-looking statements,
unless required by law.
David Pitts, 212-600-1902
Investor Relations, 402-452-5416
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