Appointment of New CEO
TranXenoGen, Inc. ("TranXenoGen" or the "Company"), the US based avian transgenic technology company listed on AIM, announces that George Uveges has joined the Company as President, Chief Executive Officer and director effective today.
Mr Uveges brings to TranXenoGen management experience in the biotechnology and healthcare industries, as well as a range of other commercial environments.
Most recently he was Chief Operating Officer of Biosource International, Inc., a $32 million turnover NASDAQ company, where he was responsible for managing three of its US subsidiaries and its European subsidiary as well as various administrative and manufacturing functions. Prior to this he was Senior Vice President and Chief Financial Officer with NEN Life Sciences, Inc., a $125 million turnover company, which was acquired from DuPont in an LBO in July 1997 and sold to Perkin Elmer in July 2000. Previously he has also held the positions of Chief Financial Officer of Gelman Sciences Inc., Chief Financial Officer of G.I. Plastek and Treasurer and Chief Accounting Officer with Invacare Corporation. Following his degree in 1970 he became a Certified Public Accountant (CPA) spending 13 years with Ernst & Young, during which time he also gained his MBA.
Commenting on Mr Uveges appointment, Dr Kim Tan, Chairman, commented:
"We are delighted to have George join us. He has extensive experience in public and private companies and has delivered on challenging business plans, achieving growth both through organic expansion and mergers and acquisitions. He is the ideal person to take TranXenoGen to the next stage of its development. In particular, George has significant board level experience with companies providing services to the life science industry as well as a very strong commercial and financial background."
Mr Uveges added:
"I am excited to start working with TranXenoGen and look forward to meeting with the Companys investors in the near future. I believe that the Company is financially strong and it has a very sound technology platform, both in its science and its team. I am looking forward to the opportunity of meeting the industry needs and addressing the pharmaceutical industrys protein supply constraints."
Pursuant to Rule 15 and paragraph (f) of Schedule 2 of the AIM Rules, the following information is announced in respect of George Uveges:
Statements in this press release regarding our business which are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. Actual results may differ materially from the statements made as a result of various factors, including, but not limited to sufficiency of cash to fund the Company's planned operations, risks associated with the inherent uncertainty of product research, risks of protecting proprietary rights and competition.