Cyanotech Names R. Todd Lorenz as Scientific Director.KAILUA-KONA, Hawaii--(BUSINESS WIRE)--June 5, 1996--Cyanotech Corporation (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 NMS See NetWare Management System. : CYAN) has named R. Todd Lorenz as scientific director. Dr. Lorenz was senior scientist & group leader, genetics and physiology, at IGENE Biotechnology, Inc. of Columbia, Maryland. "Todd brings important scientific resources to Cyanotech at a critical stage in the company's growth," said Gerald R. Cysewski, Ph.D., 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. . "Besides our continuing development of Spirulina-based products currently in production, we are bringing to market our new natural pigment, Astaxanthin, for the aquaculture aquaculture, the raising and harvesting of fresh- and saltwater plants and animals. The most economically important form of aquaculture is fish farming, an industry that accounts for an ever increasing share of world fisheries production. feed industry and have embarked on a program to commercialize a promising natural toxin-based mosquitocide -- all produced from microalgae. Overall, our scientific program is very aggressive as we expand Cyanotech's horizon." Dr. Lorenz will report to Dr. Cysewski, who has headed the company's scientific program since its inception. At IGENE, Dr. Lorenz worked on varied research projects related to the production of natural Astaxanthin from Phaffia yeast. He received his BS in Microbiology from Oregon State University Oregon State University, at Corvallis; land-grant and state supported; coeducational; chartered 1858 as Corvallis College, opened 1865. In 1868 it was designated Oregon's land-grant agricultural college and was taken over completely by the state in 1885. , his PhD in Microbial Physiology from North Carolina State University History
BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida (Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , North Carolina, and Ludwigshafen, Germany). At Cyanotech, pilot production has begun on natural Astaxanthin, the red pigment from microalgae planned to compete with synthetic pigments used primarily in the aquaculture industry to impart pink color to the flesh of pen-raised fish and shrimp. The company also has obtained a license to develop, manufacture and sell a genetically engineered blue-green algae containing a natural bacterial toxin, Bti, which, the company believes, when applied to a mosquito-infested body of water could act as an effective and environmentally safe mosquito-control agent. Development of a commercial production system for this product is expected to start later this year. Cyanotech develops and commercializes natural products from microalgae. The company is currently producing microalgae products for the nutritional supplement and immunological diagnostics markets and is also developing microalgae-based products for the aquaculture feed/pigments, biopesticide and food coloring markets. Nutrex, Inc., the company's wholly-owned subsidiary, produces and markets a line of Spirulina-based nutritional products for the retail market. CONTACT: Ronald P. Scott, EVP-Finance & Administration (808) 326-1353 OR Bruce Russell, Investor Relations (310) 216-1414 |
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