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Accelr8 Technology Corporation (AXK) Names Lawrence Mehren CEO


6/27/2012 9:49:38 AM

DENVER--(BUSINESS WIRE)--Accelr8 Technology Corporation (NYSE MKT: AXK) today announced the appointment of Lawrence Mehren as President and Chief Executive Officer and a member of the Board of Directors.

Most recently, Mr. Mehren was Head of Global Business of Ventana Medical Systems and Roche Tissue Diagnostics, managing its four business units, as well as Spring Biosciences, and mtm laboratories. From 2007 until 2010 he held various global leadership positions with Ventana including Senior Vice President, Emerging Businesses, and Chief Financial Officer. Previously, he was Managing Director, Partner and head of P&M Corporate Finance’s life sciences practice. Prior to his tenure at P&M, Mr. Mehren worked in management positions with Gale Group, a division of The Thomson Corporation, as well as Merrill Lynch. Mr. Mehren holds a B.A. from the University of Arizona and an M.B.A. from Northwestern University’s Kellogg Graduate School of Management.

“We are fortunate to have someone of Larry Mehren’s caliber and experience to lead Accelr8” said John Patience, Chairman of the Board. “Larry’s vision and proven track record of execution in the global diagnostics industry will allow us to fully realize the potential of Accelr8.”

“I am excited to be joining Accelr8 at such a pivotal time,” said Mehren. “The company has created a unique solution to a tremendous unmet need. I look forward to advancing the development and commercialization of this transformational technology.”

About Accelr8

Accelr8 Technology Corporation (www.accelr8.com) is a developer of innovative materials and instrumentation for advanced applications in medical instrumentation, basic research, drug discovery, and bio-detection. Accelr8 is developing a rapid analytical platform for infectious pathogens, the BACcel™ system, based on its innovative assay processing and detection technologies. In addition, Accelr8 licenses certain of its proprietary technology for use in applications outside of Accelr8’s own products.

Certain statements in this news release may be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statement, including those detailed in the company's filings with the Securities and Exchange Commission. Accelr8 does not undertake an obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events.

Contacts

Metzger Associates

John Metzger, +1-303-786-7000, ext. 2202

john@metzger.com



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