FREMONT, Calif., Nov. 5 WaferGen Biosystems, Inc. (OTC Bulletin Board: WGBS), a leading developer of state-of-the-art genetic analysis systems, today announced that Christopher Sears, Ph.D. has joined the company's Scientific Advisory Board. His career has been focused on designing and commercializing novel molecular diagnostics for cancer detection and other applications, and on the development of computational biology systems for several biotechnology companies and academic institutions.
"We are very pleased to welcome Dr. Sears and I am confident that his previous successes developing diagnostic products coupled with his unique background designing critical software systems, will be highly valuable for WaferGen," said Alnoor Shivji, CEO, WaferGen. "Our flagship SmartChip Real Time PCR technology is becoming an important tool for academic researchers and pharmaceutical companies requiring improved approaches to gene expression profiling. Dr. Sears' experience in all phases of product development, from design through to commercialization will be a strong fit for WaferGen."
"I am looking forward to joining WaferGen's Scientific Advisory Board as I believe the SmartChip technology offers significant untapped potential for a host of applications requiring improved genetic analysis," said Christopher Sears, Ph.D. "My background lends itself to assisting WaferGen now as the company seeks to ramp up its collaborations and become the leading platform for gene expression work. I see multiple benefits offered by this technology and am pleased to be able to be a part of what I believe will be a true, next-generation advance in the medical field."
Dr. Christopher Sears is currently the Chief Scientific Officer at Ambergen, responsible for overseeing the development of molecular diagnostic platforms for cancer, HIV, autoimmune, and other diseases. Prior to this, Dr. Sears held joint academic appointments in the field of oncology at Children's Hospital Boston, The Broad Institute, Harvard Medical School and the Dana Farber Cancer Institute where he was responsible for directing all projects and operations of the clinical genomics group. He devoted a significant portion of his time to developing technology platforms for allele and mutational analysis and employing these for target-oriented cancer clinical trials. Prior to his academic appointments, Dr. Sears was the Chief Scientific Officer at Biosift, a company he founded to commercialize his patented enterprise level computational biology software platform that become a market leader. Dr. Sears has served as a scientific advisor to pharmaceutical companies including: Genzyme Genetics, Myriad Genetics and Invitrogen and as a key scientific advisor for the Department of Justice and the Federal Bureau of Investigation in the areas of genetics and statistics for the development of high throughput comparative forensics genomic technologies. He received his Doctorate from Harvard University in Biochemistry and Molecular and Cellular Biology.
WaferGen Biosystems, Inc. is a leader in the development, manufacture and sale of state-of-the-art systems for genetic analysis for the life science and pharmaceutical industries. The company is actively developing its SmartChip(TM) product for the gene expression and genotyping markets. SmartChip is being developed as the first whole genome high throughput gene expression, real-time PCR platform. This innovative system, combined with next-generation chemistry and optimized assays being developed by WaferGen, promises to deliver significant speed and cost advantages to researchers in the gene expression and genotyping markets. Based on collaborations established with leading research institutions, WaferGen believes that the SmartChip Real-Time PCR System is positioned as the platform of choice for biomarker discovery and validation.
This press release contains certain "forward-looking statements". Such statements include statements relating to the expected benefits to the company of Dr. Sears' appointment to the company's Scientific Advisory Board, the expected benefits of the SmartChip technology to other applications, and other statements relating to future events or to the company's future financial performance and are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words.
Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that: (i) the company may be unsuccessful in commercially developing its products or in achieving market acceptance of new and relatively unproven technologies; (ii) the company will need to raise additional capital to meet its business requirements in the future and the company may not be able to do so on reasonable terms or at all; (iii) the company's proprietary intellectual property rights may not adequately protect its products and technologies; and (iv) the company expects intense competition in its target markets, including from companies that have much greater resources than the company, and there can be no assurance that the company will be able to compete effectively. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended December 31, 2008 and the company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2009. Investors and security holders are urged to read this document free of charge on the SEC's web site at www.sec.gov. The company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Contacts: WaferGen Mona Chadha 510-651-4450 Mona.email@example.com
SOURCE WaferGen Biosystems, Inc.