Orchid Cellmark Inc. (Nasdaq: ORCH - News), a leading worldwide provider of identity DNA testing services, today announced that its Board of Directors has appointed Thomas A. Bologna as the company’s new president and chief executive officer. Mr. Bologna fills these positions that had been held by Dr. Paul Kelly, who has left the company. Mr. Bologna will also serve as a director of Orchid Cellmark.
“We are delighted to have recruited a new chief executive with the impressive operating expertise and business acumen of Tom Bologna,” said Dr. George Poste, chairman of the Board of Directors of Orchid Cellmark. “Tom has a 25-year track record of successfully growing diverse life sciences businesses, experience that we believe will help Orchid Cellmark achieve its goal of consistent growth and sustainable profits. Dr. Kelly was recruited to lead Orchid Cellmark through a major restructuring and the Board is appreciative of his contributions in producing a leaner, more efficient and more focused company.”
Mr. Bologna, 57, most recently was chief executive officer and president of Quorex Pharmaceuticals, a pre-clinical anti-infective company that he strengthened and reorganized by prioritizing its drug development efforts. Previously, he was chairman, president and chief executive officer of Nasdaq- listed Ostex International, which developed, manufactured and marketed laboratory and point-of-care products for the management of osteoporosis. Mr. Bologna oversaw a revitalization of Ostex, restructuring the company, introducing new products and establishing collaborations with major partners. These achievements set the stage for a later successful merger with Inverness Medical Innovations.
Mr. Bologna also achieved a similar success at Gen-Probe Incorporated, where he served as chairman, president and chief executive officer during his seven-year tenure. Mr. Bologna directed its initial public offering, led a turnaround of the company and helped it achieve market leadership in the provision of innovative diagnostic products. Earlier, Mr. Bologna was president of the Diagnostic Instrument Systems and the Johnston Laboratories divisions at Becton Dickinson & Company. He began his career in healthcare at Warner Lambert, where he held positions of increasing responsibility, culminating as vice president of the Scientific Instrument Division of its subsidiary, American Optical Company. Mr. Bologna holds B.S. and M.B.A. degrees from New York University.
“I welcome the opportunity to lead Orchid Cellmark, which has played a key role in the development of identity DNA testing in the criminal justice system in the U.S. and U.K. and is a leading provider of family relationship testing in these markets,” said Mr. Bologna. “Orchid Cellmark has a reputation for high quality and responsiveness to customer needs that is second to none, and I look forward to working with the Orchid Cellmark team to strengthen the company’s current leadership position in DNA testing services.”
Mr. Bologna will join Orchid Cellmark in April, 2006.
Separately, Orchid Cellmark announced today that it intends to release fourth quarter and full year 2005 financial results on Thursday, March 30, 2006 at approximately 7:00 am EST. The company also issued updated 2005 guidance and reported that it expects to file its Annual Report on Form 10-K for the year ended December 31, 2005 no later than March 31, 2006. Visit http://www.orchid.com for more information.
About Orchid Cellmark Inc.
Orchid Cellmark is a leading provider of identity DNA testing services for the human identity and agriculture markets. In the human identity area, the company provides DNA testing services for forensic, family relationship and security applications. In the agriculture field, Orchid Cellmark provides DNA testing services for agricultural selective trait breeding. Orchid Cellmark’s strong market positions in these segments reflect the company’s accredited laboratories in the U.S. and U.K., its innovative genetic analysis technologies and expertise, and the world-renowned Cellmark brand that has been associated with exceptional quality, reliability and customer service for nearly two decades. More information on Orchid Cellmark can be found at http://www.orchid.com .
All statements in this press release that are not historical are forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995, including statements regarding: Orchid Cellmark’s belief that Mr. Bologna’s experience will help Orchid Cellmark achieve its goal of consistent growth and sustainable profits; Mr. Bologna’s expectation to work with the Orchid Cellmark team to strengthen the company’s current leadership position in DNA testing services; and Orchid Cellmark’s expectation to release fourth quarter and full year 2005 financial results on March 30, 2006 and to file its Annual Report on Form 10-K for the year ended December 31, 2005 no later than March 31, 2006. Such statements are subject to the risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technologies, product development, manufacturing, market acceptance, cost and pricing of Orchid Cellmark products and services, dependence on government funding and collaborations, regulatory approvals, competition, intellectual property of others, patent protection, litigation, the passage of the pending legislation into law, the increase in DNA testing expected there from and the final results and timing of the audit of Orchid Cellmark’s 2005 consolidated financial statements as well as Mr. Bologna’s successful integration into the Orchid Cellmark team. These risks and other additional factors affecting these statements and Orchid Cellmark’s business are discussed under the headings “Risks Related to Our Business” and “Risks Associated with Our Common Stock” in Orchid Cellmark’s Annual Report on Form 10-K for the year ended December 31, 2004, as filed with the Securities and Exchange Commission, and in other filings made by Orchid Cellmark with the Securities and Exchange Commission from time to time. Orchid Cellmark expressly disclaims any obligation or undertake to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Orchid Cellmark’s expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based, except as may be required by law.
Source: Orchid Cellmark
