Xenogen Elects Gregory T. Schiffman to Board of Directors
January 13 2005 - 8:08PM
PR Newswire (US)
Xenogen Elects Gregory T. Schiffman to Board of Directors ALAMEDA,
Calif., Jan. 13 /PRNewswire-FirstCall/ -- Xenogen Corporation
(NASDAQ:XGEN) today announced the election of Gregory T. Schiffman,
MBA, CPA, to its Board of Directors. The election is effective as
of January 13. Mr. Schiffman will also join Xenogen's Audit
Committee and Nominating & Governance Committee. Mr. Schiffman
is the senior vice president and the chief financial officer of
Affymetrix Inc. (NASDAQ:AFFX), a pioneer in creating breakthrough
tools that are driving the genomic revolution. Mr. Schiffman, who
holds an MBA from the Kellogg Graduate School of Management at
Northwestern University and a Bachelor of Science degree in
accounting from De Paul University, has more than 20 years
financial experience, serving in management and controller roles at
Applied Biosystems and Hewlett Packard Company prior to joining
Affymetrix. "Greg Schiffman's distinguished career and strong
financial background will be a valuable asset to the board, and we
look forward to benefiting from the expertise he brings," said
David Carter, chief executive officer and chairman, Xenogen.
"Xenogen is a unique company that has discovered and developed a
new research standard in drug development, which improves the
productivity and efficiency of the drug discovery and development
process," said Mr. Schiffman. "I am thoroughly impressed by
Xenogen's technology and seasoned management team, and I look
forward to working with the company." Xenogen also announced that
Brian Atwood, a co-founder of Versant Ventures, a managing partner
of Brentwood Venture Capital, has stepped down from the board after
seven years of service to make room for Mr. Schiffman's
appointment. "The board and management of Xenogen appreciate
Brain's many contributions and will miss the thoughtful guidance he
provided as a member of the board," Chairman Carter said. About
Xenogen Corporation Xenogen combines systems biology and low-light
optical imaging to create powerful new biophotonic imaging
technology that advances the ability of scientists to explore
genes, proteins, pathogens and tumor cells in living animals in
real time, providing predictive data that is designed to
substantially improve the success rate in drug development. Xenogen
incorporates into living animals the bioluminescent gene that makes
a firefly glow and captures the resulting light using an
ultra-sensitive camera and sophisticated software. This biophotonic
imaging technology creates images and analyzes the data generated
on cellular activity, gene expression, spread of disease or the
effect of a new drug candidate. Xenogen's biophotonic imaging
technology is used by leading academics and pharmaceutical and
biotechnology companies to provide more accurate and previously
unavailable data intended to result in the ability to make more
timely and cost-effective decisions at every step in the drug
development process. Xenogen Biosciences, a wholly owned subsidiary
of Xenogen, offers more than 14 years of experience in the
transgenic field, providing reliable, genetically modified custom
mouse models in short timelines. The company has completed more
than 2,000 transgenic and 600 gene targeting experiments, with a
greater than 95 percent success rate in delivering transgenic
founder or gene knockout lines to customers. More information about
Xenogen is available on the company's Web site at
http://www.xenogen.com/. Xenogen(R), Living Image(R) and IVIS(R)
are registered trademarks of Xenogen Corporation. Forward-Looking
Statement This press release contains forward-looking statements
regarding our imaging products and technologies and their intended
uses. These forward-looking statements are based on our current
expectations, estimates and assumptions and are subject to many
risks, uncertainties and unknown future events that could cause
actual results to differ materially. Actual use and results of
imaging products and technologies may differ materially from those
set forth in this release due to the risks and uncertainties
inherent in our business, including, without limitation: our
expectations regarding growth in adoption of our technology and the
capital spending policies of pharmaceutical, biotechnology and
chemical companies and biomedical research institutions that are
our primary customers; our ability to continue to deliver our
products on a timely basis; our ability to enforce our intellectual
property rights or operate without infringing or misappropriating
the proprietary rights of others; and other risk factors set forth
in our filings with the Securities and Exchange Commission. For a
discussion of these and other factors that could impact the
adoption and use of our imaging products and technologies and cause
them to differ materially from those in the forward-looking
statements, please refer to our recent filings with the Securities
and Exchange Commission, including our most recent quarterly report
on Form 10-Q. We assume no obligation to update any forward-
looking statements or information, which speak as of their
respective dates. DATASOURCE: Xenogen Corporation CONTACT:
investors, William A. Albright of Xenogen Corporation,
+1-510-291-6104; or press, Kelly O'Brien of Manning Selvage &
Lee, +1-415-364-3840, for Xenogen Corporation Web site:
http://www.xenogen.com/
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