XTRN...
This may be the break we need. If I'm reading right, there is hope the shell will retain talent and be marketable. Nice to see a shakeup.
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Xtrana Announces the Appointment of James H. Chamberlain as Interim CEO, and John C. Gerdes as Director
Xtrana, Inc. (OTCBB: XTRN) announced today that James H.
Chamberlain, a current Director of the Company, has been appointed
Interim Chief Executive Officer, replacing Timothy J. Dahltorp, who is
leaving the Company effective March 19, 2004. Additionally, John C.
Gerdes, Ph.D. has joined the Company's Board of Directors.
Michael Bick, Chairman of the Board, stated: "We are grateful to
Tim for his leadership of Xtrana, and wish him well in his future
endeavors. Jim brings to the Company extensive experience and his
primary focus will be to finalize the closure of the sale of Xtrana's
intellectual property, and to lead the identification process of
reverse merger prospects for the Company. We are fortunate to have Jim
take on this role for the Company." Mr. Bick continued: "John Gerdes
previously resigned from the Board while considering a possible
transaction as a principal relating to the sale of the Company's
technology. Since that transaction is no longer contemplated, the
Board desired to re-appoint John to the Board in order to more
effectively represent the current ownership of the Company, and to
bring back John's valuable experience to the Board. We are very
excited to have John join the Board."
James H. Chamberlain was the founder of Biosource International,
Inc. (Nasdaq NMS: BIOI), a California-based company dedicated to the
research, development, manufacturing, and marketing of biomedical
products to the diagnostic and research markets. Mr. Chamberlain also
serves as Chairman of the Board of Directors of Marlingen BioSciences,
Inc., a Maryland-based biotechnology company, and is the President of
JHC Consulting, Inc., a private life sciences and management
consulting firm. Prior to founding Biosource, Mr. Chamberlain was the
Manager of Business Development for Amgen, Inc. Mr. Chamberlain
received a B.S. degree in biology and chemistry from West Virginia
University in 1969 and attended the MBA Executive Program at
Pepperdine University from 1978 until 1980.
Dr. Gerdes is the Vice President of Research and Development for
Xtrana and became a director and Chief Scientific Officer concurrent
with the Company's merger with Xtrana in 2000. In 2003, Dr. Gerdes
resigned as a director of Xtrana due, in part, to his desire to submit
an offer for the purchase of our intellectual property. In 1996, he
conceived of a unique point of care approach for DNA diagnostics, the
development of which resulted in the formation of Xtrana. From 1988 to
1998, he was the Director of Paternity Analysis and Clinical Director
at IAD where he supervised clinical testing and introduced PCR and
other nucleic acid based clinical tests. He has twenty-one
publications primarily focused on molecular methods of virus
detection. He has recently filed four patents that provide the
technical foundation of the Xtrana business plan. Dr. Gerdes received
a B.S. in Microbiology from the University of Wyoming in 1970, and a
Ph.D. in Microbial Genetics from the University of California at Los
Angeles (UCLA) in 1974. After completing a four-year post-doctoral
fellowship in Virology, again at UCLA, he spent four years as an
assistant professor at the University of Colorado Health Sciences
Center in Denver before accepting a position at Immunological
Associates of Denver (IAD), a specialty reference testing laboratory.
Xtrana, Inc. develops, manufactures and markets novel nucleic acid
extraction kits and detection systems for use in molecular
diagnostics, drug discovery, forensics, research, clinical and life
sciences markets. To learn more about Xtrana, visit the Company's web
site at www.xtrana.com.
This Press Release contains forward-looking statements (identified
by the words "estimate," "anticipate," "expect," "believe," and
similar expressions), which are based upon management's current
expectations and speak only as of the date made. These forward-looking
statements are subject to risks, uncertainties and factors that could
cause actual results to differ materially from the results anticipated
in the forward-looking statements and include, but are not limited to,
competitors' pricing strategies and technological innovations, changes
in health care and government regulations, litigation claims, foreign
currency fluctuation, product acceptance, as well as other factors
discussed in the Company's last Report on Form 10-KSB. |
