Helicos BioSciences Corporation Realigns Senior Management Team
CAMBRIDGE, Mass., Dec 02, 2008 (BUSINESS WIRE) --
Helicos
BioSciences (NASDAQ:HLCS) announced today that its Board of
Directors has appointed Ronald Lowy as the company's Chief Executive
Officer, effective immediately. Ron has served on the Board of Helicos
since November 2007 and will continue to do so. Steve Lombardi will
continue in the position of President of Helicos and a member of the
Board and will focus his efforts on the commercialization of the
HeliScopeTM system product line.
"I am very excited to take over the leadership of Helicos during this
critical time of early commercialization. With my effort leading the
business team and Steve's focus on customer relationships, placements
and field support of the HeliScope system, I expect that we will
accelerate Helicos' transition to full commercialization," said Lowy.
"Since joining the Helicos' Board in November 2007, Ron has worked
closely with me on many operational aspects of the business. Ron's
appointment will allow me to direct my full efforts toward Helicos'
commercial strategy," said Steve Lombardi, the Company's President.
Mr. Lowy has more than 30 years of experience managing and growing
technology based global businesses. As president and CEO of Fisher
Biosciences, a division of Fisher Scientific, Mr. Lowy was responsible
for 14 business units with more than 5,000 employees in 56 locations in
100 countries around the world. Before joining Fisher Biosciences, Mr.
Lowy was president of Global Connectivity Solutions for ADC
Telecommunications . He also served as president and Chief Operating
Officer at the KRONE Group where he was responsible for all facets of
this global business unit. Mr. Lowy spent the first 15 years of his
career in operations, technology and general management positions at GE
Medical Systems where he was intimately involved with the development
and commercialization of Computerized Tomography and Magnetic Resonance
Systems.
About Helicos BioSciences Helicos BioSciences is a life science company focused on innovative
genetic analysis technologies for the research, drug discovery, and
diagnostic markets. Helicos' proprietary True Single Molecule
Sequencing, tSMSTM, technology allows direct measurement of
billions of strands of DNA enabling scientists to perform experiments
and ask questions never before possible. Helicos is a recipient of the
$1,000 genome grant and is committed to providing scientists the tools
to unlock the era of genomic medicine. The company's corporate
headquarters are located at One Kendall Square, Building 700, Cambridge,
MA 02139, and its telephone number is (617) 264-1800. For more
information, please visit www.helicosbio.com Certain statements made in this press release that are not based on
historical information are forward-looking statements which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This press release contains express or
implied forward-looking statements relating to, among other things, the
prospective value of the management changes discussed in this press
release and management's plans, objectives and strategies. These
statements are neither promises nor guarantees, but are subject to a
variety of risks and uncertainties, many of which are beyond Helicos'
control, which could cause actual results to differ materially from
those contemplated in these forward-looking statements. In particular,
the risks and uncertainties include, among other things, our ability to
successfully complete and/or scale the manufacturing process and
commercialize the Helicos (TM) Genetic Analysis System; our
history of operating losses and ability to achieve profitability; our
ability to establish manufacturing capabilities; the research and
development spending levels of academic, clinical and governmental
research institutions and pharmaceutical, biotechnology and agriculture
companies who may purchase our Helicos Genetic Analysis System; our
reliance on third-party suppliers; competition; changing technology and
customer requirements; our ability to operate in an emerging market;
market acceptance of our technology; the length of our sales and
implementation cycles; our dependence on large contracts for the sale
and implementation of our Helicos Genetic Analysis System; failure of
our technology and products; our ability to maintain customer
relationships and contracts; ethical, legal and social concerns
surrounding the use of genetic information; our ability to retain our
personnel and hire additional skilled personnel; our ability to manage
our growth; our ability to control our operating expenses; general
economic and business conditions; our ability to obtain capital when
desired on favorable terms; and the volatility of the market price of
our common stock. Existing and prospective investors are cautioned not
to place undue reliance on these forward-looking statements, which speak
only as of the date hereof. Helicos undertakes no obligation to update
or revise the information contained in this press release, whether as a
result of new information, future events or circumstances or otherwise.
For additional disclosure regarding these and other risks faced by
Helicos, see the disclosure contained in Helicos' public filings with
the Securities and Exchange Commission.
SOURCE: Helicos BioSciences
Investor Relations:
Helicos BioSciences Corporation
Justine Alonzo, 617-264-1822
InvestorRelations@helicosbio.com
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