Clarient Names Raymond J. Land Senior Vice President and Chief Financial Officer
2008年5月29日 - 9:30PM
PRニュース・ワイアー (英語)
ALISO VIEJO, Calif., May 29 /PRNewswire-FirstCall/ -- Clarient,
Inc. (NASDAQ:CLRT), a premier anatomic pathology and molecular
testing services resource for pathologists, oncologists and the
pharmaceutical industry, today announced that, effective June 5th,
veteran financial executive Raymond J. Land, 63, will join Clarient
as Senior Vice President and Chief Financial Officer. Mr. Land has
more than 15 years experience as a public company CFO in life
sciences and related businesses and more than 30 years experience
in financial and general management positions. Land, who spent the
last year as CFO of Safeguard Scientifics, replaces James Agnello,
who resigned the CFO position earlier this month. Commenting on Mr.
Land's appointment, Clarient CEO Ron Andrews said, "I would like to
welcome Ray to the Clarient team. Clearly, Ray has the experience
and knowledge base to have an immediate impact on Clarient's
financial processes as we continue to develop and improve the
necessary finance and accounting systems to support our rapid
growth. Ray's experience on Wall Street combined with his knowledge
of SEC and Sarbanes Oxley reporting requirements make him an
excellent addition to our leadership team. His experience in
strategic planning and M&A in the genomics space brings an
added opportunity for contribution as we assess a number of
strategic opportunities to augment our current growth trajectory."
Continuing, Andrews stated, "This is a natural transition given
Safeguard's business model of hiring executives with operational
experience to fill roles in partner companies as they become
available. As CFO at Safeguard, Ray has been working with Clarient
for almost a year now so he has a solid understanding of our
business and therefore was an obvious candidate to fill our open
CFO role." Mr. Land has more than 30 years of experience in
financial positions where he had responsibility for the accounting,
treasury, tax, investor relations, information technology and
strategic planning functions. From 2006 to 2007, Mr. Land served as
Executive Vice President and Chief Financial Officer of Medcenter
Solutions, Inc., a global pharmaceutical marketing company
specializing in online solutions. From 2005 until 2006, Mr. Land
served as Senior Vice President and Chief Financial Officer of
Orchid Cellmark Inc., a DNA testing service provider that generates
genetic profile information by analyzing an organism's unique
genetic identity. From 1997 until 2005, Mr. Land was Senior Vice
President and Chief Financial Officer of NASDAQ-traded Genencor
International, Inc., a global diversified genomics and proteomics
company that went public during his tenure and was acquired in a
$1.2 billion transaction in 2005. From 1991 to 1996, he served as
Senior Vice President and Chief Financial Officer for publicly
traded West Pharmaceutical Services, Inc. Previously, Mr. Land was
with Campbell Soup Company, Inc. where for nine years he held
increasingly senior financial positions, including Vice
President-Corporate Controller. Prior to joining Campbell Soup, he
was with Coopers and Lybrand for nine years. Mr. Land is a
Certified Public Accountant and has a BBA degree in accounting and
finance from Temple University. Mr. Land serves on the board of
Anika Therapeutics, Inc., as Chairperson of the Audit Committee. He
is married and will relocate with his wife, Kathleen, to Southern
California from his current home in the greater Philadelphia area.
About Clarient Clarient combines innovative technologies with world
class expertise to assess and characterize cancer. Clarient's
mission is to provide the services, resources and critical
information to improve the quality and reduce the cost of patient
care as well as accelerating the drug development process. The
Company's principal customers include pathologists, oncologists,
hospitals and biopharmaceutical companies. The rise of
individualized medicine as the new direction in oncology has
created the need for a centralized resource providing leading
diagnostic technologies such as flow cytometry and molecular
testing. Clarient is that resource, having created a
state-of-the-art commercial cancer laboratory providing the most
advanced oncology testing and drug development services available
both onsite and over the web. Clarient is a Safeguard Scientifics,
Inc. partner company. http://www.clarientinc.com/ About Safeguard
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc.
(NYSE:SFE) provides growth capital for entrepreneurial and
innovative technology and life sciences companies. Safeguard
targets technology companies in Software as a Service (SaaS),
Technology-Enabled Services and Internet-based Businesses, and life
sciences companies in Molecular and Point-of-Care Diagnostics,
Medical Devices and Specialty Pharmaceuticals with capital
requirements between $5 and $50 million. Safeguard participates in
expansion financings, corporate spin-outs, management buyouts,
recapitalizations, industry consolidations and early-stage
financings. http://www.safeguard.com/ Forward-Looking Statements
The statements herein regarding Clarient, Inc. contain
forward-looking statements that involve risks and uncertainty.
Future events and the Company's actual results could differ
materially from the results reflected in these forward-looking
statements. Factors that might cause such a difference include, but
are not limited to: the Company's ability to hire and transition to
a new Chief Financial Officer, the Company's ability to continue to
develop and expand its diagnostic services business, the Company's
ability to expand and maintain a successful sales and marketing
organization, the Company's ability to maintain compliance with
financial and other covenants under its credit facilities, the
effects of a going concern audit opinion on the Company's
operations, the Company's ability to successfully transition its
billing function in-house from a third party vendor, the Company's
ability to successfully complete a joint development agreement with
Zeiss for the development of novel diagnostic tests, whether the
conditions to payment of all or any portion of the contingent
consideration from the Company's sale of its instrument systems
business to Zeiss are satisfied, the Company's ability to remediate
the material weaknesses in the Company's internal control over
financial reporting, the Company's ability to successfully
transition its customer billings from a third party billing vendor
to an in-house billing system, the continuation of favorable third
party payer reimbursement for laboratory tests, the Company's
ability to obtain additional financing on acceptable terms or at
all, unanticipated expenses or liabilities or other adverse events
affecting cash flow, uncertainty of success in identifying and
developing new diagnostic tests or novel markers, the Company's
ability to fund development of new diagnostic tests and novel
markers and the amount of resources the Company determines to apply
to novel marker development and commercialization, the Company's
ability to obtain additional financing if required on favorable
terms or at all, failure to obtain FDA clearance or approval for
particular applications, the Company's ability to compete with
other technologies and with emerging competitors in novel cancer
diagnostics and dependence on third parties for collaboration in
developing new tests, and risks detailed from time to time in the
Company's SEC reports, including quarterly reports on Form 10-Q,
reports on Form 8-K and annual reports on Form 10-K. Recent
experience with respect to laboratory services, revenues and
results of operations may not be indicative of future results for
the reasons set forth above. In addition, the financial results
described herein are preliminary and subject to adjustment as the
Company finalizes its review of its financial results for the
quarter ended March 31, 2008. The Company's financial statements
for the quarter ended March 31, 2008 (including any such
adjustments, if any) will be included in the Company's quarterly
report on Form 10-Q for the three months ended March 31, 2008 to be
filed with the Securities and Exchange Commission. The company does
not assume any obligation to update any forward-looking statements
or other information contained in this document. Contact: Matt
Clawson Allen & Caron Inc (949) 474-4300 DATASOURCE: Clarient,
Inc. CONTACT: Matt Clawson of Allen & Caron Inc,
+1-949-474-4300, , for Clarient, Inc. Web site:
http://www.clarientinc.com/ http://www.safeguard.com/
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