OMAHA, Neb., Jan. 22 /PRNewswire-FirstCall/ -- Transgenomic, Inc. announced that it has accepted Collin J. D'Silva's resignation as a member of the Board of Directors, including his position as Chairman of the Board and Secretary of the Company, effective January 19, 2007. Mr. D'Silva will remain as an employee of the Company, for a period ending no later than March 31, 2007, in the role of Director of Mergers and Acquisitions. Mr. D'Silva, who has served on the Board since 1998, was a founder of the company and served as the Company's President and CEO from 1998 until April 2006. Regarding Mr. D'Silva's departure from the Board, Mr. Craig Tuttle, the Company's President and CEO, stated, "We appreciate and respect the long-term dedication that Collin D'Silva has brought to the company and thank him for his on-going participation in our business development efforts." He further noted, "We are entering an exciting time at Transgenomic where we are applying our many years of mutation discovery and technical expertise to expand our product and service offerings and drive the company's growth."
Gregory T. Sloma, who has been a member of the Board of Directors since 2004, has assumed the additional duties of Chairman of the Board on an interim basis until a new Chairman is appointed. Mr. Sloma also serves as Chairman of the Audit Committee and a member of the Company's Executive Committee.
The Board of Directors has appointed Craig Tuttle to the Board to fill the vacancy created by Mr. D'Silva's resignation. Mr. Tuttle has served as the Company's President and CEO since July 2006.
Debra Schneider, currently the Company's Chief Financial Officer, has been appointed Secretary of the Company.
About Transgenomic
Transgenomic is a global biotechnology company that provides unique systems, products, discovery and laboratory testing services to the academic and medical research, clinical and pharmaceutical markets for automated high sensitivity genetic variation and mutation analysis in the fields of pharmacogenomics and personalized medicine. This is accomplished through their offerings of Wave(TM) DHPLC systems, reagents, consumables and assay kits, automated cytogenetics systems and Transgenomic Discovery and CLIA Lab Services. To date there have been over 1,200 Wave systems installed in over 600 customer sites in over 35 countries and approximately 1,500 publications utilizing Transgenomic products or services. Transgenomic Discovery and Lab Services utilize their technology and expertise to provide a menu of mutation scanning tests for over 700 cancer-associated genes and more than 60 validated diagnostic tests to meet the needs of pharmaceutical and biotech companies, research and clinical laboratories, physicians and patients. For more information about the innovative systems, products and services offered by Transgenomic, please visit: www.transgenomic.com.
Transgenomic Cautionary Statements
Certain statements in this press release constitute "forward-looking statements" of Transgenomic within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to management's current views and estimates of future economic circumstances, industry conditions, company performance and financial results, including the ability of the Company to grow its involvement in the diagnostic products and services markets. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in Transgenomic's reports to the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release. All information in this press release is as of the date of the release and Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
Transgenomic, Inc.CONTACT: Craig J. Tuttle of Transgenomic, Inc., +1-402-452-5400
Web site: http://www.transgenomic.com/
