Codon Devices Names Daniel Geffken as Chief Financial Officer

CAMBRIDGE, Mass., March 21 /PRNewswire/ -- Codon Devices, Inc., the Constructive Biology Company(TM), announced today that it has appointed Daniel E. Geffken to the newly created position of Chief Financial Officer.

Mr. Geffken brings more than 25 years of financial management experience to Codon Devices. He has been the chief financial officer of six companies, ranging from venture-backed start-ups to publicly-held corporations. Mr. Geffken played a critical role in building infrastructure, managing fundraising and investor relations, and leading finance organizations in several high growth life science companies, including Transkaryotic Therapies, Inc. (later acquired by Shire plc), CytoTherapeutics, Inc., and Omnisonics Medical Technologies, Inc. During his career, he has raised more than $700 million in debt and equity financings. He joins Codon Devices from Konarka Technologies, Inc., where he was Executive Vice President and Chief Financial Officer. Mr. Geffken has a B.S. in Economics from The Wharton School, University of Pennsylvania, and an MBA from Harvard Business School.

"Codon Devices' combination of proprietary technology, tremendous growth potential and high caliber team presents me with a singular opportunity for a leadership role in the biotechnology industry. The Company represents an extremely exciting situation to help build a preeminent biotechnology company through the application of our transformative BioFAB(TM) platform. I am delighted to be joining the Codon Devices' team," noted Mr. Geffken.

"With our rapidly growing customer base, accelerating pace of business development, and expanding investor interest, it was critical that we attract a world-class chief financial officer," added John P. Danner, President and Chief Executive Officer of Codon Devices. "I am thrilled that we have been able to attract a CFO of Daniel's caliber. His deep experience in building successful biotechnology companies will be a tremendous asset to Codon Devices as we work to deliver on our bold vision of Constructive Biology(TM)."

About Codon Devices

Codon Devices, based in Cambridge, MA, is a privately-held biotechnology company focused on enabling commercial applications of synthetic biology. Codon Devices' proprietary synthesis and design technologies improve the productivity, throughput and flexibility of its industrial, pharmaceutical and academic customers in a paradigm shift to what the Company calls Constructive Biology(TM). The Company's focus is on developing and delivering high-value products and design services in a variety of application areas, including engineered gene libraries, engineered cells that produce novel pharmaceuticals, improved vaccines, agricultural products, and biorefineries for the production of industrial chemicals and energy. Codon Devices' BioFAB(TM) platform uses sophisticated informatics, robotics and sequencing technologies to accurately synthesize genetic codes orders of magnitude more rapidly and cost-effectively than other currently available technology. Codon Devices is currently scaling the platform to design and construct engineered genetic devices hundreds of kilobases to megabases in length.

Founded in 2004 within Flagship Ventures, Codon Devices commenced laboratory operations in March 2005. The Company announced a Series A financing round of $13 million in June 2005 and achieved first revenues in November 2005. Investors include Alloy Ventures, Flagship Ventures, Khosla Ventures and Kleiner Perkins Caufield and Byers. In December 2006, the Company closed a $20M Series B financing led by Highland Capital Partners, with all previous investors participating. Codon Devices' scientific founders include Scientific Advisory Board Chairman George Church, Harvard Medical School; Drew Endy, Massachusetts Institute of Technology; Joseph Jacobson, Massachusetts Institute of Technology Media Lab; Jay Keasling, University of California, Berkeley; and Brian Baynes, Codon Devices, Inc.

CONTACT: Leda Notchey of Codon Devices, Inc., +1-617-995-7982; PeterSteinerman of Steinerman BioMedical Communications, +1-516-374-3031