Aprogenex announces management changes.HOUSTON--(BUSINESS WIRE)--Sept. 27, 1995--Aprogenex Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :APG), with headquarters in Houston, Wednesday announced the first in a series of management changes intended to speed its transition from the development stage into successful commercial operations. The company said its board of directors formed an executive committee to facilitate this transition. The company's founder, Dr. Joel Bresser, resigned as president and chief executive officer, and will, for an initial period, serve as one of three members of this executive committee, which also includes Walter Cunningham and Terry Ward. Cunningham and Ward are experienced venture capital executives. Cunningham has been managing general partner of The Genesis Fund since 1986, and Ward has served as chief financial officer of W.S. Farish & Co. since 1979. Bresser and the other members of the executive committee have already initiated a search for a new CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . ``Although the search is not yet complete, we face a number of key strategic decisions right away as we work together with Zeneca Diagnostics, and others, to bring our lead GenSite product to market,'' stated Bresser. ``Aprogenex is fortunate to have, in Walter Cunningham and Terry Ward, two key board members prepared to become more involved on a day-to-day basis at this important and exciting time.'' The executive committee named Dr. Luis Cantarero acting chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . Cantarero was appointed vice president - research and development in August 1994, after a successful 10-year career at Abbott Laboratories. Cantarero will be directly responsible for development, production and delivery of the GenSite pre-natal genetics test, and for coordinating the efforts of companies throughout the United States and Europe which are working closely with Aprogenex to further refine its novel approach to genetic screening for pregnant mothers. The company also announced that Dr. Wayne Ryan and J. Donald Payne have joined the Aprogenex board of directors, replacing Dr. Irvin Smith and John P. Davis John Preston Davis (January 19, 1905 - September 11, 1973) a Harvard-trained lawyer and activist intellectual became prominent for his work with the Joint Committee on National Recovery and the founding of the National Negro Congress in 1935. . Ryan is chairman of the board and CEO of Streck Laboratories, a privately held manufacturer of hematology and chemical control systems based in Omaha, Neb. Payne has served as a vice president - finance and CFO See Chief Financial Officer. of Aprogenex since May 1992. Smith, who resigned to devote more time to his increasing management responsibilities at Biogen, had been a director of Aprogenex since September 1991. Davis was appointed a director in June 1993 in connection with his role at that time as president and co-CEO of Dianon (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DIAN), which is an Aprogenex licensee. Davis has since left the employ of Dianon. Founded in 1988, Aprogenex has discovered and patented a new generation of diagnostic technology, with significant advantages and broad application to genetics, oncology, virology and microbiology. Utilizing its Rapid Intact Gene Hybridization hybridization /hy·brid·iza·tion/ (hi?brid-i-za´shun) 1. crossbreeding; the act or process of producing hybrids. 2. molecular hybridization 3. Technology (RIGHTechnology), Aprogenex is developing a diagnostic testing system for the genetic screening of pregnant woman, called GenSite, designed to provide a rapid, cost effective and non-invasive alternative to amniocentesis amniocentesis (ăm'nēō'sĕntē`sĭs), diagnostic procedure in which a sample of the amniotic fluid surrounding a fetus is removed from the uterus by means of a fine needle inserted through the abdomen of the pregnant woman (see . The company is also developing new generation tests for HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. with large market potentials. CONTACT: Aprogenex Inc. Donald Payne, 713/748-5114 or Equity Communications Ira Weingarten, 805/897-1880 |
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