RESEARCH TRIANGLE PARK, N.C., Nov. 5 /PRNewswire-FirstCall/ --
Paradigm Genetics, Inc. (Nasdaq: PDGM), a biotechnology company, today
announced the appointment of Philip R. Alfano to the position of Vice
President, Finance, and Chief Financial Officer and the appointment of J.
Barry Buzogany, Esq., to the position of Vice President, General Counsel and
Corporate Secretary.
Alfano brings 25 years of financial and managerial experience to Paradigm.
Most recently, he was Senior Vice President and Chief Financial Officer of
Greenwood Group, Inc. (d.b.a. Manpower), the largest Manpower franchise in the
United States. Prior to that, Alfano was Senior Vice President and Chief
Financial Officer of Research Triangle Commerce, Inc., a commerce
infrastructure company for whom he directed initial and secondary equity
raises and coordinated a merger with a Nasdaq-listed company. He also served
as Senior Vice President and Chief Financial Officer for Winston Hotels, Inc.,
a $350 million, publicly held real estate investment trust. Alfano received
his B.B.A. in Accounting at St. Bonaventure University and completed graduate
finance courses at Pace University.
Buzogany has more than 20 years of broad legal and management team
experience, primarily in the biotech and healthcare industries. Most
recently, he was Senior Vice President, General Counsel and Secretary of Gene
Logic, Inc., a publicly traded genomics and bioinformatics company, where he
established the company's first in-house legal function, resolved litigation
issues and directed the intellectual property function. Prior to that,
Buzogany was Executive Director and Corporate Counsel for Centocor, Inc., a
biopharmaceutical company. He also served as Vice President and General
Counsel for Boehringer Mannheim, a pharmaceutical company. Additionally, he
was General Counsel to public companies engaged in the manufacture and sale of
bioindustrial products and specialty chemicals, respectively. Buzogany
received his J.D. from University of Akron College of Law and his M.A. in
International Relations from University of Southern California.
"I am delighted that Phil and Barry have joined our team," said Heinrich
Gugger, Ph.D., Paradigm's president and CEO. "They each bring valuable skills
to the mix -- Phil is a creative and seasoned financial manager who has
secured financing in very difficult markets, and Barry is an expert in
structuring biotech deals and managing intellectual property. I have every
confidence in the executive team now fully in place, as we swiftly work to
execute our strategy."
About Paradigm Genetics
Paradigm is a biotechnology company aiming to increase R&D productivity by
focusing its integrated suite of technologies on the product development
cycle, from target discovery to subsequent enhancement of the safety and
efficacy profiles of development candidates. Paradigm chooses a systems
biology approach to understand gene function in the context of biological
pathways, to develop assays and biomarkers for molecular diagnostic solutions
tailed to the needs of our commercial and government partners. For more
information, visit http://www.paradigmgenetics.com.
This press release contains forward-looking statements, including
statements regarding Paradigm's ability to increase R&D productivity by
focusing its integrated suite of technologies on the product development
cycle, from target discovery to the subsequent enhancement of the safety and
efficacy profiles of development candidates; the ability of the company to
understand gene function in the context of biological pathways; the prospects
of Paradigm to develop assays and biomarkers for molecular diagnostic
solutions tailored to the needs of its partners; Paradigm's ability to meet or
exceed the expectations of its partners and customers; as well as Paradigm's
prospects for growth and innovation. Such forward-looking statements are
based on management's current expectations and are subject to a number of
risks, factors and uncertainties that may cause actual results, events and
performance to differ materially from those referred to in the forward-looking
statements. These risks, factors and uncertainties include, but are not
limited to, Paradigm's early stage of development, history of net losses,
technological and product development uncertainties, reliance on research
collaborations, uncertainty of additional funding and ability to protect its
patents and proprietary rights. Certain of these and other risks are
identified in Paradigm's Form 10-Q for the quarter ended June 30, 2002, filed
with the Securities and Exchange Commission. The Company does not intend to
update any of the forward-looking statements after the date of this release to
conform these statements to actual results or to changes in our expectations,
except as may be required by law.
SOURCE Paradigm Genetics, Inc.
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Related links:
http://www.paradigmgenetics.com
CONTACT:
Melissa Matson, Manager, Corporate
Communications of Paradigm Genetics, Inc., +1-919-425-3000, or
Amy Garay of Noonan Russo Presence Euro RSCG, +1-212-845-4200,
for Paradigm Genetics, Inc.
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