Axys Pharmaceuticals Announces Management Change.SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , Calif.--(BW HealthWire)--July 23, 1999-- Axys Pharmaceuticals, Inc. (Nasdaq:AXPH) announced today that Frederick J. Ruegsegger, currently senior vice president, finance and corporate development, and chief financial officer of Axys, will leave the company to become Chief Financial Officer at Neoforma.com, a leader in healthcare business to business e-commerce. Ruegsegger has been with Axys since 1996, and will continue as a member of the board of directors of PPGx, Inc., Axys' majority-owned pharmacogenomics Pharmacogenomics is the branch of pharmacology which deals with the influence of genetic variation on drug response in patients by correlating gene expression or single-nucleotide polymorphisms with a drug's efficacy or toxicity. subsidiary. "Fred has played a significant role at Axys through his participation on the executive committee and his role as CFO See Chief Financial Officer. ," commented John Walker, chairman and chief executive officer of Axys Pharmaceuticals. "I have had the pleasure of working with Fred, off and on, for 14 years and know that he will make a great contribution to Neoforma and we all wish him the best of luck in his new endeavors. At the same time, Fred leaves behind a very capable group of executives who will continue to run their functions on a day to day basis. We therefore anticipate little change in finance and administrative activities while we look for his successor." Ruegsegger, age 43, joined Axys in December 1996. Prior to Axys, he was 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. of EyeSys Technologies, CEO of Vitaphore Corp., a subsidiary of Union Carbide Union Carbide Corporation (Union Carbide) is one of the oldest chemical and polymers companies in the United States, and currently has more than 3,800 employees. as well as CFO of several medical device companies over his career. Axys Pharmaceuticals is a leader in the integration of life science technologies with a focus on transforming gene discoveries into drugs. Axys is building shareholder value through (1) a broad and diversified pipeline of research and development programs partnered with world-class pharmaceutical companies; (2) expansion of a non-partnered research and development franchise in oncology oncology /on·col·o·gy/ (ong-kol´ah-je) the sum of knowledge regarding tumors; the study of tumors. on·col·o·gy n. ; and (3) the spin out of affiliated businesses that leverage the company's technologies in order to provide capital for Axys' drug discovery and development programs. Axys' technology-leveraging businesses are: Axys Advanced Technologies, Inc., a wholly owned combinatorial chemistry Combinatorial chemistry involves the rapid synthesis or the computer simulation of a large number of different but structurally related molecules. Introduction Synthesis of molecules in a combinatorial fashion can quickly lead to large numbers of molecules. oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. company; PPGx, Inc., a majority owned pharmacogenomics company; and Akkadix Corp. (formerly Xyris), a majority owned agricultural biotechnology company. Note to Editors: For more information on Axys Pharmaceuticals, Inc., please visit the company's website at http://www.axyspharm.com. |
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