BEVERLY HILLS, CA--(Marketwire - June 29, 2012) -
Cascade Technologies Corp. (OTCBB: CSDT
) and its wholly owned subsidiary, Spectral Molecular Imaging, Inc. ("SMI"), today announced the appointment of Jerome Swartz, Ph.D. to lead its four-member Advisory Board.
A highly respected scientist, Dr. Swartz is best known for having co-founded Symbol Technologies in 1973, which began as a leader in handheld laser-based bar code scanners. Under his guidance as Chairman and Chief Scientist, Symbol Technologies became a leading manufacturer and worldwide supplier of mobile data capture and delivery equipment. He led Symbol Technologies to win the U.S. National Medal of Technology, the country's highest honor for technology innovation. The company was acquired by Motorola for $3.9 billion in January 2007.
Among his many professional achievements, Swartz is a recognized expert in the engineering physics fields of electro-optics, laser systems and optical design, with particular application to new product development. He is credited with more than 200 U.S. patents and has authored seminal papers in this field.
Cascade Technologies President Gene Scher said, "It is a great honor for us to announce Dr. Jerry Swartz's appointment to lead the Cascade Advisory Board. Dr. Swartz is a world-renowned leader in his field. For the past 30 years, he has collaborated with and supported many of the leading U.S. biomedical institutions, and his contacts in this sector are unrivaled. He will fulfill an important strategic role on the Advisory Board, facilitating Cascade development and speeding up execution of our business plan."
Dr. Daniel L. Farkas, Cascade Chairman and CEO, said, "We are delighted and proud to have an Advisory Board of world-class leaders and innovators, now fully representing the fields that matter most to the company: research, technology transfer and productization, business and the clinical realm. The addition of Dr. Swartz's exceptional talents and experience will prove, in our view, invaluable to our efforts. We look forward to his many significant contributions, and on behalf of all Cascade shareholders, I warmly welcome him to the Company."
Commenting on his appointment, Dr. Swartz said, "Cascade's Spectral Molecular Imaging has an innovative, solid medical technology platform offering many potential public health benefits for individuals as well as for clinical care delivery and insurance systems worldwide. I am pleased to accept an advisory leadership position so early in the Company's development as we pursue successful commercialization."
Jerome Swartz Bio
Jerome Swartz received a bachelor's degree in electrical engineering from The City College of New York and a Ph.D. in electrical engineering from Brooklyn's Polytechnic University, where he was the recipient of National Science Foundation and Ford Fellowships. He has held various academic positions, including adjunct professor of electrical engineering at SUNY Stony Brook.
Dr. Swartz has won numerous, prestigious professional and industry awards, including the IEEE Ernst Weber Engineering Leadership Recognition in 1998. He served as the project manager on NASA's Apollo Space Radiation Warning System program, and subsequently ran an independent consulting firm with projects ranging from Space Shuttle experiments to specialty lens design, aircraft collision avoidance systems, patient monitoring electronics and the design of a computer-automated camera for producing UPC bar code film masters.
Dr. Swartz went on to co-found Stony Brook Applied Research, later renamed Symbol Technologies in 1973 and served as its Chairman and Chief Scientist until his retirement in June 2004. In 1999, he led Symbol Technologies to win the National Medal of Technology, the U.S.'s highest honor for technology innovation (previous corporate winners included Bell Laboratories, IBM, Merck, 3M, Corning and DuPont). The Award was presented to Dr. Swartz by President Clinton at the White House on March 14, 2000. Dr. Swartz patented and led the development of the first hand-held barcode laser scanner, a data capture productivity tool now common in myriad applications across diverse global markets. Under his direction through the 1980s, Symbol Technologies also pioneered and patented the world's first hand-held, scanner-integrated wireless computer and the first spread spectrum wireless LAN (WiFi), enabling real-time mobile data-transactions.
In 1994, Dr. Swartz established the non-profit Swartz Foundation for Computational Neuroscience (www.theswartzfoundation.org), to explore the application of mathematical physics and computer engineering principles to traditional neurobiology, as a path to better understanding the brain/mind relationship. The Foundation supports a number of research initiatives at five Sloan/Swartz Centers for Theoretical Neurobiology (Salk Institute, CalTech, UC San Francisco, NYU/Courant and Brandeis) and Swartz Centers for Computational Neuroscience at the UC San Diego, Cold Spring Harbor Laboratory, Columbia University, Princeton University, Yale University, and Harvard University, which together form the nucleus of Foundation activities. The Swartz Foundation also sponsors conferences, workshops, seminars, and public lectures in brain science, as well as the annual Society for Neuroscience Swartz Prize for Theoretical and Computational Neuroscience.
About Cascade Technologies and Spectral Molecular Imaging
Cascade Technologies Corp., through its wholly-owned subsidiary, Spectral Molecular Imaging, Inc., is a development-stage medical imaging device company, applying its proprietary hyperspectral imaging technology, originally developed for satellite reconnaissance, to advance the early and accurate diagnoses of cancer and precancerous conditions. SMI is developing non-invasive, high-resolution, multimode optical imaging systems using its patented technologies and other proprietary know-how for improved clinical diagnostics, primarily in the field of cancer pathology, by identification and analysis of certain molecular, cellular, and tissue features. We expect to provide services related to our primary products, including software modules and maintenance, and to develop optical diagnostic products that operate in conjunction with surgical and/or evaluation procedures in real time. We believe that our technology will enable early detection and more reliable diagnosis of various diseases, such as melanoma, Barrett's esophagus and lung cancer. We expect that medical devices using or based on our developed technology can significantly improve long-term patient outcomes and may substantially reduce overall costs for the healthcare system. For more information, please visit http://www.opmol.com.
This news announcement contains or may contain certain "forward-looking statements." Forward-looking statements may include, without limitation, statements regarding SMI's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. Such forward-looking statements are subject to significant risks and uncertainties, including those detailed in filings made by Cascade Technologies Corp. with the Securities and Exchange Commission. Accordingly we caution our readers that actual results may differ materially and adversely from our beliefs or expectations due to economic, business, competitive, market, financing and regulatory factors. We assume no obligation or undertaking to update any forward-looking statements to reflect any changes in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. You should, however, review additional risk factors and other disclosures we make in the reports filed with the Securities and Exchange Commission.