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Bridgeport,
Connecticut, USA (July 14, 2003) … Catachem, Inc. (Catachem, Private) today
announced that it has named Benjamin Twombly to the position of Vice President,
Sales and Marketing. In this role, Ben, will develop Catachem’s sales and
marketing strategy, operations and infrastructure and will have overall
responsibility for Catachem’s sales, marketing, commercial development,
research programs and will oversee medical affairs for marketed products. Ben
will report to Luis P. Leon, President and Chief Executive Officer. "We
are very pleased to welcome Ben to the Catachem management team. Ben will
contribute valuable experience to help us develop and implement a strategy to
participate in our $23 Billion market. His
extensive education in chemistry and many years of experience in the sciences,
biotechnology and drug development will enhance our ability to identify emerging
technologies and advance our focused development programs.
Ben will also be responsible for identifying products and technology
opportunities for both in- and out-licensing on a worldwide basis. The formation
of new research and development partnerships and alliances will be an important
component of Catachem's business model as we expand our capabilities. Ben’s
leadership will therefore be instrumental to our future growth" stated
Leon. “Ben has proven abilities, in the science and business arenas, to identify key scientific and corporate opportunities and to execute major transactions," said Mr. Leon. Ben brings considerable experience to Catachem, serving as Global Vice President Business Development for Ethient, LLC, a biotech industry focused capital investment group. At Ethient he helps clients develop and execute corporate strategies with a focus on mergers and acquisitions, corporate turnaround and financing with the goals of identifying hidden value, increasing valuations and catalyzing financial events. Prior to Ethient, Ben has a distinguished career as a Senior Scientist in the analytical instrumentation and biotechnology industries. He served in various positions in Perkin-Elmer, Rheometrics, and Helena Laboratories where technologies included cardiovascular therapy, dermatology vaccine, respiratory vaccine, oncology vaccine, oncology, cellular storage solution, gastroenterology, virology, fully Human antibody libraries, anti-infective, high performance computing, high throughput screening, in vitro diagnostics, instrumentation, thermodynamics, rheology, electrophoresis, consumables, services and analytical systems. Ben
commented, “Catachem
is extremely well positioned for extraordinary growth”. After
the recent market consolidation of the large IVD suppliers, the market spaces
between the large suppliers increased and formed several “micro markets” and
within those markets, several smaller “nano markets” are emerging.
The new Catachem business model and strategy must capitalize on this
change and focus on the emerging, smaller and plentiful “nano
markets. The global IVD market,
which grew to almost $23 billion from $450 million between 1970 and 2003 is projected to reach $29.2 billion by 2007
and is expected to grow
at an estimated compound annual growth rate of approximately 14 percent.
From a macro
economic perspective, this steady growth is due to:
large and continually expanding
global markets; demand for rapid tests in clinical environment; aging population
requiring an increased number of IVD tests; IVD testing that is better than
higher cost medical procedures; new utility for IVD testing is emerging and
calling for more testing, more often; DVL diagnostics are more accepted for
companion animals; and ENV analysis is increasingly required for economic
development. Catachem is a leading specialty chemical
manufacturer and distributor of services, products and systems for the
veterinary, environmental, and human clinical diagnostic markets. With its
discovery platform becoming operational, the establishment of sales and
marketing strategies, corporate partnering programs, a rapidly expanding
chemistry department, and the initiation of internal development efforts,
Catachem is prepared to enter the next stage of corporate development.
Utilizing its technology base, Catachem is working to establish
development collaborations, while building its own pipeline of products. About
Catachem, Inc. Catachem
has a rich 20 year history in clinical chemistry as a manufacturer and
distributor of in-vitro chemistry products and services for human, veterinary
and environmental laboratories. Catachem chemists helped develop many of the
automated diagnostic chemistries widely in use today. Catachem created the DiscretePak™
and VetSpec™ line of reagents
for human and veterinary automated analyzers.
Catachem offers FDA approved (510K) chemistries (liquid and dry)
including enzymatic chemistries developed in conjunction with IFCC and CDC.
Catachem has more than 500 applications for all types of analyzers
including the Roche™, Hitachi™, Olympus™,
AU Series™, RA Series™, Opera™,
DAX™, Bayer™, Advia™,
Synchron™, Beckman™, Abbott™
and many other analyzers. Corporate
headquarters, research, custom formulation laboratories, and manufacturing are
located in Bridgeport, Connecticut. Catachem
supplies leading laboratories and equipment manufacturers from distributors
around the world. Forward-looking
statements in this release are made pursuant to the ``safe harbor'' provision of
the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties including, but not
limited to, the results of research and development efforts, the effect of
regulation by the United States Food and Drug Administration and other agencies,
the impact of competitive products, product development commercialization
and technological difficulties, and other risks detailed in the Company's
periodic reports filed with the Securities and Exchange Commission. Keywords:
Catachem, Chemistry, Reagents, In-Vitro Diagnostics, IVD, Veterinary, Human
Resources, Personnel, Benjamin Twombly, Sales, Marketing, Vice President For
more information contact: Catachem,
Inc. +1 (203)
240-6604 Catachem
chemistries include: 5'-Nucleotidase (5NT), Adenosine Deaminase (ADA), Alanine
Aminotransferase (ALT), Albumin BCG (ALB), a-L-Fucosidase (AFU), Alkaline
Phosphatase (ALP), Ammonia (NH), Amylase (AMY), Aspartate Aminotransferase
(ALP), β-Hydroxybutyrate (BHBA), Bicarbonate (HC03), Bile Acids (BA),
Bilirubin, Direct with Blank (DBILI), Bilirubin, Total with Blank (TBILI),
Bilirubin, Total (TBILI), Blood Urea Nitrogen (BUN), Bromide (BR), CO2 [340]
(CO2), CO2 [380] (CO2), CO2 [single reagent] (CO2), Ca+++ Arsenazo [650NM]
(CA3), Chloride [340 NM] (CL), Cholesterol (CH), Creatine Kinase (CK),
Creatinine (CREAT), Fructosamine [millimole method] (FR), Fructosamine, Glycated
Serum Protein [enzymatic] (FR), Gamma-Glutamyl Transpeptidase (GGT), Glucose
Hexokinase (GLU), Glycated Hemoglobin (HbA1c), High Density Lipoproteins,
Dextran Sulfate (HDL), Inorganic Phosphorus (IP), Lactate Dehydrogenase (LD),
Lipase (LIP), Lithium [enzymatic] (LI), Magnesium (MG), N-Acetyl-ß-D-glucosaminidase
(NAG), Potassium [enzymatic] (K), Plasma Free Hemoglobin (PFH), Pre-albumin (TBPA),
Sodium [enzymatic] (NA), Sorbitol Dehydrogenase (SDH), Thiopurine
methyltransferase (TPMT), Total Bile Acids (TBA), Total Iron (TI), Total Protein
(TP), Triglycerides (TRIG), UIBC and TIBC (UIBC), Uric Acid (UA), Vitamin B6
(V6B), Multipoint Calibrator Catacal, Catatrol Level 1 Catatrol Level 2, Bile
Acids Control, Bile Acids Calibrator, BHBA Calibrator, BHBA Control Level 1,
BHBA Control Level 2; Bromide Calibrator, BR Control Level 1, BR Control Level
2; Fructosamine Calibrator, FR Control Level 1, FR Control Level 2, SDH Control
Level 1, SDH Control Level 2. Call
+1 (203) 335-9277 or Write Catachem@aol.com. |
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