Ciphergen Appoints Debra A. Young as Chief Financial Officer
November 06 2006 - 9:00AM
PR Newswire (US)
FREMONT, Calif., Nov. 6 /PRNewswire-FirstCall/ -- Ciphergen
Biosystems, Inc. (NASDAQ:CIPH) today announced the appointment of
Debra A. Young as Vice President and Chief Financial Officer (CFO).
In her role as CFO, Ms. Young will be responsible for leading all
aspects of financial management for Ciphergen. "Debra brings
extensive finance and management expertise to Ciphergen at an
important time in the company's development," said Gail S. Page,
President and CEO of Ciphergen. "Her 20 years of experience
developing and implementing successful financial and operational
strategies for companies in the healthcare industry will be
invaluable to us as we build a dynamic diagnostics business." Ms.
Young joins Ciphergen from ViOptix, Inc., where she served as CFO
since 2004. In that position, she was responsible for all aspects
of finance, human resources and information technologies, as well
as legal and facilities. She successfully helped the company
establish and implement systems and controls for gaining FDA
clearance and launching its first product. For five years prior to
ViOptix, Ms Young was CFO of the Nuclear Medicine Division of
Philips Electronics, a $500 million business. While at Philips, Ms.
Young provided strategic and operational financial management
support to the CEO, worked to improve manufacturing efficiencies
and margins and led the effort to outsource information
technologies. "I am excited to join Ciphergen as the company
focuses its efforts on developing novel diagnostics that patients
and physicians need to make better treatment decisions," said Debra
Young. "I look forward to applying my experiences at both large and
small companies to Ciphergen's many opportunities." Before her
promotion to CFO, she served as Vice President Controller for the
Nuclear Medicine Division of Philips, formerly ADAC Laboratories,
Inc. Ms. Young has also held positions at Somnus Medical
Technologies, Inc. and Ernst & Young LLP. Ms. Young is a
graduate of Manukau Technical Inst, NZ with an NDA major in
accounting. About Ciphergen Ciphergen Biosystems, Inc. is dedicated
to the discovery, development and commercialization of novel
high-value diagnostic tests that help physicians diagnose, treat
and improve outcomes for patients. Ciphergen, along with its
prestigious scientific collaborators, has ongoing diagnostic
programs in oncology, cardiology and women's health with an initial
focus in ovarian cancer. Based in Fremont, California, more
information about Ciphergen can be found on the Web at
http://www.ciphergen.com/. Safe Harbor Statement Note Regarding
Forward-Looking Statements: This press release contains
forward-looking statements. For purposes of the Private Securities
Litigation Reform Act of 1995 (the "Act"), Ciphergen disclaims any
intent or obligation to update these forward-looking statements,
and claims the protection of the Safe Harbor for forward-looking
statements contained in the Act. Examples of such forward-looking
statements include the ability of Ciphergen to commercialize
successfully biomarker panels and the potential outcome of studies
designed to aid physicians in making treatment decisions. Actual
results may differ materially from those projected in such
forward-looking statements due to various factors, including the
Company's ability to successfully commercialize diagnostics.
Investors should consult Ciphergen's filings with the Securities
and Exchange Commission, including its Form 10-Q filed August 16,
2006, for further information regarding these and other risks
related to the Company's business. NOTE: Ciphergen is a registered
trademark of Ciphergen Biosystems, Inc. DATASOURCE: Ciphergen
Biosystems, Inc. CONTACT: Sue Carruthers, Investor Relations of
Ciphergen Biosystems, Inc., +1-510-505 2233; or Lori Murray, Media,
of WeissComm Partners, +1-415-946-1070, for Ciphergen Biosystems
Web site: http://www.ciphergen.com/
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