Matritech Elects Walter Fredericks to the Board of Directors.Business Editors/Health/Medical Writers BIOWIRE2K NEWTON, Mass.--(BUSINESS WIRE)--July 10, 2003 Matritech Inc. (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 : NMPS NMPS Navy Mobilization Processing Site (US DoD) NMPS Navy Motion Picture Service NMPS Nuclear Materials Plant Support NMPS N-Channel Metal Oxide Silicon ), a leading developer of proteomics-based diagnostic products for the early detection of cancer, announced that Walter O. Fredericks has been elected to the company's Board of Directors. Fredericks brings 40 years of experience in the medical device and biotechnology industries. Throughout his career, he has been an entrepreneur and has served in various capacities at several leading clinical laboratory and diagnostics companies. From 1988 to 2001, Fredericks served as president, 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. and director of Lifecodes Corporation, the premier forensics DNA testing DNA testing Analysis of DNA (the genetic component of cells) in order to determine changes in genes that may indicate a specific disorder. Mentioned in: Acoustic Neuroma, Retinoblastoma, Von Willebrand Disease company. He also served as a director for Dianon Systems, a cancer specialty laboratory, and established Electronic Instruments International, a company focused on creating products to enhance long distance electric power distribution. Fredericks was CEO and director of Cistron cistron /cis·tron/ (sis´tron) the smallest unit of genetic material that must be intact to transmit genetic information; traditionally synonymous with gene. cis·tron n. Biotechnology and vice president of Becton Dickinson Laboratory Systems. In recognition of his entrepreneurial success, Fredericks was the 1999 and 2000 National Award Nominee and Regional Award Winner of the Entrepreneur of the Year Award from both Ernst & Young and Deloitte-Touche. "Walt's clinical laboratory and diagnostics device experience and his extraordinary entrepreneurial track record will be invaluable to Matritech as we bring more cancer detection methods to market," said Stephen D. Chubb, chairman and CEO of Matritech. "We look forward to his wise counsel and participation on the board." About Matritech Matritech is a leading developer of proteomics-based diagnostic products for the early detection of cancer. Using its patented proteomics technology, Matritech has identified proteins correlated with bladder, cervical, breast, prostate and colon cancers. Matritech is one of the first companies to successfully employ proteomics to create diagnostic products. The Company holds one of only two FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. tumor marker tumor marker n. A substance, released into the circulation by tumor tissue, whose detection in the serum indicates the presence of a specific type of tumor. approvals for the initial detection of cancer. The FDA-approved NMP NMP New Millennium Program (NASA) NMP National Military Park (National Park Service) NMP N-Methylpyrrolidone NMP Network Management Protocol NMP Not My Problem 22(R) bladder cancer test is currently used by urologists. In addition, the Company has blood-based tests for breast cancer (NMP66(TM)) and prostate cancer (NMP48(TM)) under development. NMP technology is licensed exclusively to Matritech from 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, . Statement Under 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 Any forward-looking statements related to the Company's expectations regarding its current and future products are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These include but are not limited to, risks related to unforeseen delays in, or denials of regulatory approvals, future product demand and pricing, performance of distributors, competitive products and technical developments, health care reform, general business and economic conditions and those other risk factors described in the Company's periodic reports and registration statements as filed with the Securities and Exchange Commission. These forward-looking statements are neither promises nor guarantees. There can be no assurance that the Company's expectations for its products will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update any forward-looking information contained in this press release or the announcements contained herein. |
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