Cyberkinetics Strengthens Its Board and Management Team with Financial Experts.FOXBOROUGH, Mass. -- Cyberkinetics Neurotechnology Systems, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYKN) (Cyberkinetics) announced today the appointment of Theo Melas-Kyriazi, former Chief Financial Officer of Thermo Electron Corporation, to its Board of Directors and as Chairman of the Audit Committee. Mr. Melas-Kyriazi's appointment brings the total number of seats on Cyberkinetics' Board to seven. The Company also announced the appointment of Kimi Iguchi as Vice President, Finance. "These appointments reflect our continued efforts to build a strong Board and management team in order capitalize on the opportunities provided by our leadership position in the development of direct brain to computer interfaces," said Timothy R. Surgenor, 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. of Cyberkinetics Neurotechnology Systems, Inc. "Theo's industry knowledge and demonstrated financial leadership of a public company greatly strengthens our Board, while Kimi's operational and financial management skills will provide our product development teams with the systems and support needed to rapidly advance our neurotechnology product development programs." Mr. Melas-Kyriazi joins Cyberkinetics's Board as an independent director with almost two decades of financial and strategic operations management experience. Since joining Thermo Electron Corporation (TMO TMO T-Mobile TMO The Mac Observer (website) TMO Timeout (Hekimian) TMO Tenant Management Organisation (UK) TMO Toprak Mahsulleri Ofisi ) in 1986, Theo Melas-Kyriazi has held various management positions including President and CEO of Thermo Spectra Corporation, a subsidiary of Thermo Electron that he took through its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. and subsequent significant growth. In addition to his board seat with Cyberkinetics, Mr. Melas-Kyriazi is a board member of Valeant Pharmaceuticals International Valeant Pharmaceuticals International is a pharmaceutical company with activities spanning the drug discovery pipeline from target identification through clinical trials and commercialization. in Costa Mesa, Calif. Mr. Melas-Kyriazi received a Bachelors Degree from Harvard College and an M.B.A. from Harvard Graduate School of Business Administration. With over 15 years of corporate finance experience including eight years in the biotechnology industry, Ms. Iguchi comes to Cyberkinetics from Millennium Pharmaceuticals where she was Senior Director of Financial Reporting and Analysis. Prior to Millennium, Ms. Iguchi served as Senior Manager of External Reporting at Biogen IDEC where she was responsible for managing all aspects of the company's financial reporting requirements. Previously, Ms. Iguchi was a Senior Audit Manager at Pricewaterhouse Coopers LLP LLP - Lower Layer Protocol . Ms. Iguchi received a Bachelors Degree from Drew University and an M.B.A. from Northeastern University. About Cyberkinetics Neurotechnology Systems, Inc. Cyberkinetics, a leader in neurotechnology, an emerging field driven by advances in neuroscience, computer science, and engineering, is focused on treating diseases and disorders of the nervous system. Cyberkinetics' first product, BrainGate(TM) Neural Interface System, is designed to give severely paralyzed par·a·lyze tr.v. par·a·lyzed, par·a·lyz·ing, par·a·lyz·es 1. To affect with paralysis; cause to be paralytic. 2. To make unable to move or act: paralyzed by fear. individuals a long-term, direct brain-computer interface for the purpose of communication and control of a computer and other devices. Patients are currently being enrolled into a pilot clinical trial to test its safety and effectiveness. Cyberkinetics' intellectual property features key technologies licensed from Brown University, the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , Emory University, and the University of Utah The University of Utah (also The U or the U of U or the UU), located in Salt Lake City, is the flagship public research university in the state of Utah, and one of 10 institutions that make up the Utah System of Higher Education. . Cyberkinetics is headquartered in Foxborough, Massachusetts and conducts engineering and research in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. . More information is available at www.cyberkineticsinc.com. Forward Looking Safe Harbor Statement: This press release contains forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially. For a discussion of those risks and uncertainties, please see our filings with the Securities and Exchange Commission. |
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