Transgenomic Announces Executive Changes
Paul Kinnon Named President, Chief Executive Officer and Director
OMAHA, Neb (Sept 30, 2013) -- Transgenomic, Inc. (OTCBB: TBIO), a global biotechnologycompany advancing personalized medicine in cardiology, oncology, and inherited diseases throughdiagnostic tests as well as clinical and research services, today announced that Paul Kinnon has beennamed President, Chief Executive Officer and a Director, replacing Craig J. Tuttle, effective today.
Mr. Kinnon brings over two decades of business andscientific leadership in the biotechnology andpharmaceutical industries to Transgenomic, with a proven track record of developing and launching lifescience products. Most recently, he has provided commercial and strategic consultancy services to avariety of life science companies and investors, including Transgenomic. With broad experiencecovering clinical diagnostic, core life science research and applied markets, his appointment strengthensthe executive leadership team and adds significantcommercial, operational, and scientific expertise.
Rodney S. Markin, M.D., Ph.D., Chairman of Transgenomic commented: “Paul has a demonstrablehistory of success in building teams, forming strategic partnerships and leading global organizations.
Hehas also played a pivotal role in the successful growth and development of many innovation-drivencompanies. We anticipate that the Board’s appointment of Paul as CEO will allow Transgenomic toleverage the Company’s leading assets, talent and business partners.” Dr. Markin added: “We thankCraig 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 ofinnovative 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. Ilookforward to leading the Transgenomic team as we refine and implement strategies designed to betteraddress our many promising market opportunities andcreate 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 developingbreakthrough analytic systems. Mr. Kinnon joined ZyGEM in 2007 from Invitrogen Corp. (now LifeTechnologies), where he held the positions of VicePresident of Global Strategic Alliances and VicePresident and General Manager of the Applied Markets Business Unit. Previously, Mr. Kinnon heldbusiness, sales and marketing roles of increasing responsibility at Guava Technologies, Cellomics, andother life science companies.
About Transgenomic, Inc.
Transgenomic, Inc. (www.transgenomic.com) is a global biotechnology company advancing personalizedmedicine in cardiology, oncology, and inherited diseases. The Company has three complementarybusiness divisions: Clinical Laboratories, Pharmacogenomic Services and Diagnostic Tools, whichprovide specialized diagnostic tests, contract research services for drug development, and equipment,reagents and other consumables for clinical and research applications in molecular testing andcytogenetics.
Forward-Looking StatementsCertain statements in this press release constitute“forward-looking statements” of Transgenomic withinthe meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknownrisks, uncertainties and other factors that may cause actual results to be materially different from anyLEGAL_US_W # 76448402.1future results, performance or achievements expressed or implied by such statements. Forward-lookingstatements include, but are not limited to, those with respect to management's current views and estimatesof 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 servicesmarkets. The known risks, uncertainties and other factors affecting these forward-looking statements aredescribed from time to time in Transgenomic's filings with the Securities and Exchange Commission. Anychange in such factors, risks and uncertainties maycause the actual results, events and performance todiffer materially from those referred to in such statements. Accordingly, the Company claims theprotection of the safe harbor for forward-looking statements contained in the Private Securities LitigationReform Act of 1995 with respect to all statements contained in this press release. All information inthispress release is as of the date of the release andTransgenomic does not undertake any duty to updatethisinformation, including any forward-looking statements, unless required by law.
Posted: September 2013