CPHD hires a pro:
SUNNYVALE, Calif., April 15 /PRNewswire-FirstCall/ -- Cepheid (Nasdaq:
CPHD) today announced that John L. Bishop, formerly president and CEO of Vysis
Inc., now a wholly-owned clinical diagnostics subsidiary of Abbott
Laboratories (NYSE: ABT), has joined the company as chief executive officer
and a member of the board of directors. He succeeds co-founder Thomas L.
Gutshall who will continue as chairman.
"Clinical diagnostics represents a major untapped opportunity for
Cepheid's DNA testing products, and John's outstanding record of success in
creating and expanding new markets will be a tremendous asset," said Gutshall.
"I am very proud of our achievements and believe his addition to our executive
team well positions Cepheid to dramatically impact this and other segments of
the DNA testing market."
"I am pleased to have the opportunity to become a member of Cepheid's
executive team. The company's technology and products have the potential to
bring the full benefit of genomic information to the medical community on the
broadest possible basis," said Bishop. "The ability to obtain results of DNA
analyses in 30 minutes or less will allow the clinician to take full advantage
of this information to diagnose and treat disease."
Bishop brings more than 25 years of management experience in
instrumentation and clinical diagnostics. His most recent achievement was in
creating Vysis, a genomic disease management company, from assets of the
Diagnostic Sector of Amoco Technology Company. The company grew from a
developer and marketer of life-science research products to a provider of
clinical diagnostics, notably the PathVysion(R) HER-2 Test for selecting
breast cancer patients for Herceptin(R) therapy. Bishop took the company
public in 1998 and was subsequently involved in its sale to Abbott
Laboratories in December of 2001 for a valuation of approximately
$355 million.
Cepheid, based in Sunnyvale, Calif., is a leading developer, manufacturer
and marketer of miniaturized, fully integrated systems for rapid, on-site
detection of DNA -- the universal biological identifier. Founded in 1996, the
company is commercializing its technology and products for scientific, medical
and industrial applications requiring time-critical detection of human and
other genes, infectious disease agents, and industrial and environmental
contaminants at the point of need. See cepheid.com for more
information.
NOTE: Herceptin(R) is a registered trademark of Genentech, Inc.
PathVysion(R) is a registered trademark of Abbott Laboratories.
Statements in this release, including those that may relate to business
prospects are forward-looking statements. Actual results might differ
materially from these statements due to risks and uncertainties, including the
impact of competitive products and pricing, market acceptance of new products,
market conditions and enforcement of intellectual property rights. A more
detailed description of these risks and other risks applicable to Cepheid
appears in Cepheid's reports filed with the U.S. Securities and Exchange
Commission and available upon request from Cepheid. Cepheid disclaims any
intent or obligation to update these forward-looking statements. |
