James Karis Teams With Tegal’s Thomas Mika as Co-CEO of Tegal Corporation
July 02 2012 - 9:01AM
Business Wire
Tegal Corporation (NASDAQ:TGAL) today announced that it expects
to appoint James Karis as Co-CEO of Tegal Corporation. The
appointment will be effective upon completion of Tegal’s pending
acquisition of CollabRx, Inc, where Mr. Karis currently serves as
CEO and a director. Mr. Karis will join Tegal’s Chairman, President
and current CEO Thomas Mika in the Co-CEO role.
Tegal announced earlier today that it has signed a definitive
agreement to acquire CollabRx, Inc., a privately held technology
company in the rapidly growing market of interpretive content and
data analytics for genomics-based medicine. The combined, publicly
traded company intends to operate under the CollabRx name and will
locate its headquarters in San Francisco, CA. Upon completion of
the pending transaction, Mr. Karis also will be appointed to
Tegal’s Board of Directors.
Mr. Karis, who became CollabRx CEO in 2011, served for nine
years as President and CEO of Entelos, Inc., a U.S.-based life
sciences technology company. He previously was President and Chief
Operating Officer of PAREXEL International Corporation, Chief
Operating Officer of Pharmaco International, and Vice President of
International Operations of Baxter International. Mr. Karis also
co-founded KMR Group, a leading pharmaceutical
research-and-development benchmarking consulting firm. An
experienced Director of public and private companies, Mr. Karis has
a B.S. Degree in Management and Economics from Purdue University
and a Masters in Applied Economics from The American
University.
“I am extremely pleased to be working with Thomas Mika to
deliver an unrivaled knowledgebase that expresses the relationship
between tumor genetic profiles, medical records and prospective
therapies,” said Mr. Karis. “We are committed to bringing our
valuable tools to physicians and patients who are working together
to determine the best approach to treatment.”
“James has guided CollabRx to the vanguard of information and
analytics for genomics-based medicine,” said Mr. Mika. “Our entire
team is energized about our company’s leadership prospects in this
critically important sector.”
Tegal will continue to operate under its current name and ticker
symbol for the time being, but plans to seek stockholder approval
at its upcoming annual meeting in September 2012 for an amendment
to its Certificate of Incorporation, changing its corporate name to
CollabRx, Inc.
About Tegal
Since its founding in 1972, Tegal Corporation has been dedicated
to the development and application of emerging technologies. For 40
years, Tegal’s process and equipment know-how has been incorporated
in devices fabricated by some of the world’s leading semiconductor
and MEMS companies, including Tegal’s one-time parent, Motorola.
Now entering its fifth decade, Tegal has committed its future to
emerging technologies in medical devices and health care. Please
visit us on the web at www.tegal.com.
About CollabRx
CollabRx is a recognized leader in “cloud-based” expert systems
to inform health care decision-making. CollabRx uses information
technology to aggregate and contextualize the world's knowledge on
genomics-based medicine with specific insights from the nation's
top cancer experts starting with the area of greatest need:
advanced cancers in patients who have effectively exhausted the
standard of care.
Safe Harbor Statement
This press release contains forward-looking statements that may
include statements regarding the intent, belief or current
expectations of Tegal, CollabRx and their respective management.
Forward looking statements include statements about the benefits
and advantages of the acquisition for Tegal and CollabRx. Actual
results could differ materially from those projected in the
forward-looking statements as a result of a number of important
factors, including but not limited to the risk that the acquisition
will not close as the transaction is subject to certain closing
conditions. In addition, if and when the transaction is closed,
there will be risks and uncertainties related to Tegal’s ability to
integrate CollabRx successfully, the risk that the anticipated
benefits from the acquisition may not be fully realized or may take
longer to realize than expected; and competition and its effect on
the combined company’s performance. Additional factors that may
affect future results are contained in the SEC filings for Tegal,
including but not limited to Tegal’s Annual Report on Form 10-K for
the year ended March 31, 2012. Tegal and CollabRx each disclaim any
obligation to update and revise statements contained in this
release based on new information or otherwise.
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