ALISO VIEJO, Calif., April 28 Clarient, Inc.(Nasdaq: CLRT), a premier technology and services resource for pathologists,oncologists and the pharmaceutical industry, today announced that Michael J.Pellini, M.D. has resigned from his position of Vice President of the LifeSciences Group at Safeguard Scientifics, Inc. to become a full-time employeeof Clarient. In addition to his current title of Chief Operating Officer,Pellini has been named President. Pellini reports directly to Chief ExecutiveOfficer Ron A. Andrews, Jr., who will assume the title of Vice Chairman ofClarient's Board of Directors in addition to his current position as CEO.
"Clarient is entering its next phase of growth and developing a stable,efficient platform upon which to continue our commercial velocity," saidAndrews. "We strive every day to enhance shareholder value and expand ourbusiness. Mike will focus on Clarient's day-to-day operations while I'll focusmy time on our long-term strategic initiatives. Since last fall when weappointed Mike as COO, our operational efficiency has improved significantly.In a very short period of time, Mike has become an integral part of ouroutstanding executive team and the overall Clarient culture. I am pleased tohave Mike on board as President and COO, and look forward to working with himto take our company through its next stages of growth and milestones."
Pellini has been serving as Clarient's COO since October 2007 and, untilnow, was also Vice President of the Life Sciences Group at SafeguardScientifics. Pellini has been serving on the Clarient Board of Directors sinceJune 27, 2007 and will maintain his position on the board in his new role.
Prior to joining Safeguard, Pellini was Chief Operating Officer atLakewood Pathology Associates, Inc., a Lakewood, NJ-based national anatomicalpathology company. From 1999 to 2004, Pellini served as President and CEO ofGenomics Collaborative Inc., a Boston, MA-based biotech firm that was acquiredby SeraCare Life Sciences, Inc. in 2004. He is also a former Entrepreneur inResidence at BioAdvance, the Biotechnology Greenhouse of SoutheasternPennsylvania, where he was responsible for reviewing and evaluating seed stageinvestment proposals.
Pellini earned a bachelor's degree from Boston College, an MBA from DrexelUniversity and his MD from Jefferson Medical College of Thomas JeffersonUniversity.
Clarient combines innovative technologies with world class expertise toassess and characterize cancer. Clarient's mission is to provide the services,resources and critical information to improve the quality and reduce the costof patient care as well as accelerating the drug development process. TheCompany's principal customers include pathologists, oncologists, hospitals andbiopharmaceutical companies.
The rise of individualized medicine as the new direction in oncology hascreated the need for a centralized resource providing leading diagnostictechnologies such as flow cytometry and molecular testing. Clarient is thatresource, having created a state-of-the-art commercial cancer laboratoryproviding the most advanced oncology testing and drug development servicesavailable both onsite and over the web. Clarient is a Safeguard Scientifics,Inc. partner company. For more information, visit http://www.clarientinc.com.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc.(NYSE: SFE) provides growth capital for entrepreneurial and innovativetechnology and life sciences companies. Safeguard targets technology companiesin Software as a Service (SaaS), Technology-Enabled Services andInternet-based Businesses, and life sciences companies in Molecular andPoint-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals withcapital requirements between $5 and $50 million. Safeguard participates inexpansion financing