ALAMEDA, Calif., April 21 /PRNewswire-FirstCall/ -- Xenogen Corporation
(Nasdaq: XGEN) today announced the election of E. Kevin Hrusovsky to its Board
of Directors. The election is effective as of April 20. Mr. Hrusovsky will
also join Xenogen's Nominating & Governance Committee following its 2005
annual meeting of stockholders.
Mr. Hrusovsky has been President and Chief Executive Officer of Caliper
Life Sciences Inc., a biotechnology company, since July 2003 immediately
following Caliper's acquisition of Zymark Corporation. Prior to the
acquisition, Mr. Hrusovsky served as President and CEO for Zymark starting in
1996. Before joining Zymark, Mr. Hrusovsky held management positions at FMC
Corporation and E.I. DuPont de Nemours. He also serves as a board member of
the Association for Laboratory Automation. He received his B.S. in Mechanical
Engineering from Ohio State University, an M.B.A. from Ohio University, an
Extended M.B.A. from Harvard University, and an Honorary Doctorate from
Framingham State College for his contributions to life sciences.
"Kevin brings to Xenogen's Board relevant industry experience and a strong
track record in both strategic planning and operations management. His
council will be enormously helpful as we move Xenogen forward," said David
Carter, Chief Executive Officer and Chairman, Xenogen.
"I believe there is tremendous potential in Xenogen's technology for
helping identify higher effectiveness and safer drugs. I am looking forward
to contributing to the commercial evolution of this technology," said Mr.
Hrusovsky.
Xenogen also announced that Raymond J. Whitaker, General Partner of
EuclidSR Partners, L.P., a venture capital firm, has stepped down from the
Board after six years of service to make room for Mr. Hrusovsky's appointment.
"The Board and management of Xenogen appreciate Ray'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 15 years of experience in the transgenic field, providing reliable,
genetically modified custom mouse models in short timelines. The company has
completed more than 2,500 transgenic and 600 gene targeting experiments, with
a greater than 96 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.
NOTE: Xenogen(R), Living Image(R) and IVIS(R) are registered trademarks
of Xenogen Corporation.
Forward-Looking Statements
This press release contains forward-looking statements regarding
anticipated performance of Xenogen's technology, products and services. 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
performance of Xenogen's technology, products and services may differ
materially from those set forth in this release due to the risks and
uncertainties inherent in our business, including, without limitation:
Xenogen's expectations regarding growth in acceptance of its products,
services or technology; the capital spending policies of pharmaceutical,
biotechnology and chemical companies and biomedical research institutions that
are Xenogen's primary customers; Xenogen's ability to enforce its intellectual
property rights or operate without infringing the patent rights of others; and
other risk factors set forth in Xenogen's filings with the Securities and
Exchange Commission. For a discussion of these and other factors that could
impact the performance of Xenogen's technology, products and services and
cause them to differ materially from those in the forward-looking statements,
please refer to Xenogen's recent filings with the Securities and Exchange
Commission, including Xenogen's Annual Report on Form 10-K for the year ended
December 31, 2004 filed on March 21, 2005. Xenogen assumes no obligation to
update any forward-looking statements or information, which speak as of their
respective dates.
SOURCE Xenogen Corporation
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Related links:
http://www.xenogen.com
CONTACT:
investors, William A. Albright of Xenogen
Corporation, +1-510-291-6104; or Kelly O'Brien of Manning Selvage
& Lee, +1-415-364-3840, for Xenogen Corporation
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