Calypte Biomedical Announces Senior Management Changes; New CEO and New President Named, Boeger to Remain as Chairman.
Calypte Biomedical Corporation (NASDAQ: CALY) announced today changes in several key management positions. Nancy Katz has joined Calypte as president, chief operating officer, chief financial officer and as a member of its board of directors. David Collins, currently a member of the company's board, will assume the role of chief executive officer. Bill Boeger, Calypte's former CEO, will continue to serve as chairman of the board.
Boeger, who has been chairman since 1994, was asked to take on the additional duties of president and CEO in 1997. During his tenure as president, Boeger helped Calypte obtain FDA approval for its urine HIV-1 tests, acquire the HIV testing assets from Cambridge Biotech, restructure its overseas distribution and sign a major domestic distributor. In addition to his role as chairman, Boeger will continue as a consultant to the company, focusing on key projects to increase domestic and international adoption of Calypte's HIV-1 tests.
"I look forward to my continued involvement with Calypte," said Boeger. "Dave Collins and Nancy Katz, who previously worked together at Schering-Plough, have substantial sales, marketing and management experience in the healthcare industry. They are uniquely suited to accelerate the commercialization of Calypte's three FDA-approved tests. I am confident that they will make significant contributions to the company's growth."
Dave Collins brings to his new role at Calypte more than 30 years of experience in the pharmaceutical industry. Most recently, Collins was president of Schering-Plough HealthCare Products, Inc. This Schering-Plough subsidiary manufactures over-the-counter drugs like Drixoral Cold Medicine and Afrin Nasal Spray. Prior to working for Schering-Plough, Collins held a variety of positions during his 26-year career at Johnson & Johnson, which included: vice chairman, board of directors for Public Affairs & Planning; chairman, Consumer Products Sector; general counsel; and corporate secretary.
"I see great opportunities to help Calypte expand the role of urine HIV-1 testing among audiences who would greatly benefit from this safe, reliable and efficient testing method," said Collins.
Nancy Katz brings more than 18 years of experience in pharmaceutical marketing and sales to Calypte. Previously, she led sales and marketing efforts for LifeScan, the diabetes testing division of Johnson & Johnson. Katz also served as vice president of U.S. marketing, directing LifeScan's marketing and customer call center departments. During her seven-year career at Schering-Plough Healthcare Products, she held numerous positions, including senior director and general manager; marketing director, Footcare New Products; and product director, OTC New Products.
"I am excited about the opportunity to help Calypte continue its leading role in the domestic and international HIV testing markets, to continue its product evolution and to increase shareholder value in the company," Katz said.
Calypte Biomedical manufacturers the only two FDA-licensed HIV-1 antibody tests that can be used on urine samples. These tests include the screening EIA and supplemental Western blot tests. Urine testing is non-invasive, less costly, does not require sample storage or a trained health care worker for sample collection, and it is safer because there are no risks of needle sticks. Calypte secured the manufacturing and marketing rights for the FDA-licensed serum HIV-1 Western blot through its acquisition of the Cambridge Biotech Western blot product line in December, 1998.
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding market adoption of the HIV-1 urine testing system. Actual results may differ materially from the above forward-looking statements due to a number of important factors, and will be independent upon the Company's ability, directly or through third parties, to successfully manufacture and market the HIV-1 urine testing system. Factors which may impact the Company's success are more fully discussed in the Company's most recent quarterly report on forms 10-Q and 10-K.
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|Date:||Oct 19, 1999|
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