Claude Benchimol Named Senior Vice President of Research and Development at Invitrogen.Business Editors/Health/Medical Writers BIOWIRE2K CARLSBAD, Calif.--(BUSINESS WIRE)--Sept. 2, 2003 Experienced Technology Leader to Create Innovation Powerhouse That Enables Drug Discovery Invitrogen Corp. (Nasdaq:IVGN), a provider of essential life science technologies for disease research and drug discovery, today announced that it has appointed Claude Benchimol, Ph.D., as senior vice president of research and development. In this newly created, strategic role, Benchimol will build Invitrogen's R&D group into an innovation powerhouse that will be the hallmark of the life sciences industry. "Invitrogen is committed to improving the human condition by becoming the engine that drives drug discovery research", said Gregory T. Lucier, Invitrogen's president and 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. . "By focusing our R&D efforts under Dr. Benchimol's leadership, we will instill in·still v. To pour in drop by drop. in  stil·la tion n. cutting-edge thinking, develop breakthrough technologies,
and make drug discovery faster, easier, and more efficient than ever
before."
Dr. Benchimol brings to Invitrogen 25 years of experience building, developing and leading technology innovation teams. As senior vice president of R&D, Dr. Benchimol will report directly to Lucier and have overarching o·ver·arch·ing adj. 1. Forming an arch overhead or above: overarching branches. 2. Extending over or throughout: "I am not sure whether the missing ingredient . . . responsibility for research and development teams in different business units around the world. "The impact that Invitrogen is having on drug discovery and the fight against human disease is astounding a·stound tr.v. a·stound·ed, a·stound·ing, a·stounds To astonish and bewilder. See Synonyms at surprise. [From Middle English astoned, past participle of astonen, ," commented Benchimol. "What is truly exciting, however, is that we have only scratched the surface of what is possible. I look forward to propelling Invitrogen to the forefront of innovation by applying my knowledge and experience to life sciences." Before joining Invitrogen, Benchimol held technology leadership roles for 15 years at General Electric. Most recently, he was vice president and general manager of global technology for GE's Medical Systems, Information Technologies division. While there, Benchimol led a team of 1,000 technologists worldwide focused on developing products with an R&D budget of $200 million. He revitalized the technology pipeline for the company, re-oriented the product strategy to significantly drive revenues and implemented global quality processes. Benchimol earned a master's degree master's degree n. An academic degree conferred by a college or university upon those who complete at least one year of prescribed study beyond the bachelor's degree. Noun 1. in engineering from Ecole Nationale Superieure des Telecommunications in France Telephones - main lines in use: 33.91 million (year end 2003) Telephones - mobile cellular: 41.68 million (year end 2003) Telephone system: highly developed domestic: , as well as a master's and doctorate degree in System Science from the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). at Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . Joining Benchimol in leading Invitrogen's R&D efforts will be John Carrino, Ph.D. Carrino, who previously served as vice president of R&D for Invitrogen, will become the company's chief scientist. In this role, he will continue his work cultivating technologies and linking them together into a total solution for drug discovery research. Carrino holds a Ph.D. in microbiology and immunology from Northwestern University Northwestern University, mainly at Evanston, Ill.; coeducational; chartered 1851, opened 1855 by Methodists. In 1873 it absorbed Evanston College for Ladies. , is a four-year veteran of Invitrogen, and previously held R&D leadership roles at both Nanogen Inc. and Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. . "It is clear to me that future advancements in healthcare will stem from the outgrowth of multidisciplinary thinking," commented Lucier. "That's why I'm excited about the innovation to come from the combined scientific talents of Drs. Benchimol and Carrino." About Invitrogen Invitrogen Corp. provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research, drug discovery, and commercial bio-production. Invitrogen's own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery including functional genomics Noun 1. functional genomics - the branch of genomics that determines the biological function of the genes and their products genomics - the branch of genetics that studies organisms in terms of their genomes (their full DNA sequences) , proteomics, bio-informatics and cell biology Cell biology The study of the activities, functions, properties, and structures of cells. Cells were discovered in the middle of the seventeenth century after the microscope was invented. -- placing Invitrogen's products in nearly every major laboratory in the world. Founded in 1987, Invitrogen has headquarters in Carlsbad and conducts business in more than 70 countries around the world. The company globally employs approximately 3,000 scientists and other professionals. For more information about Invitrogen, visit the company's Web site at www.invitrogen.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain statements contained in this press release are considered "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, and it is Invitrogen's intent that such statements be protected by the safe harbor created thereby. Forward-looking statements include, but are not limited to: 1) Dr. Benchimol will build Invitrogen's R&D group into an innovation powerhouse that will be the hallmark of the life sciences industry; 2) that Invitrogen will become the engine that drives drug discovery research; 3) that Invitrogen will instill cutting-edge thinking, develop breakthrough technologies, and make drug discovery faster, easier, and more efficient than ever before; 4) that Dr. Benchimol will propel Invitrogen to the forefront of innovation; and 5) that future innovations in healthcare will stem from the outgrowth of multidisciplinary thinking. Such forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the risks: a) that Invitrogen's investment in R&D might not provide a sufficient return to satisfy our stockholders; b) that drug discovery companies may choose to develop their own technologies and products, or obtain technologies and products from our competitors, rather than purchasing them from Invitrogen; c) that Invitrogen's scientists may not make sufficient new discoveries, or may be unable to develop an adequate supply of new products from our technologies; and d) that Dr. Benchimol's expertise may be insufficient to propel Invitrogen to the forefront of innovation, as well as other risks and uncertainties detailed from time to time in Invitrogen's Securities and Exchange Commission filings. |
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