Roger Gales becomes CEO, takes permanent position
Say what you will but this company always surprises us
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Calypte Appoints Roger I. Gale as President and CEO
Monday May 8, 7:30 am ET
LAKE OSWEGO, Ore., May 8 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (Amex: HIV - News; the "Company"), medical diagnostic tests manufacturer for the professional point of care (PRO) and over the counter (OTC) segments of the market primarily for the detection of antibodies to the human immunodeficiency virus (HIV), announced today that Mr. Roger I. Gale, Chairman of the Board since November 2004, has been appointed President and Chief Executive Officer. Mr. Gale will relocate to the Company's corporate offices in Portland, Oregon.
He has held the position of interim CEO since October 2005. Mr. Gale will dedicate his full attention to Calypte and has concurrently resigned his position as Executive Chairman of WaveCrest Group Enterprises Limited ("WaveCrest"), an International Communications Services Provider.
Mr. Gale is one of two Directors originally appointed to Calypte's Board pursuant to an August 2003 agreement between the Company and Marr Technologies BV ("Marr"), the Company's largest stockholder and strategic/joint venture partner. He brings not only the knowledge of Calypte he has gained over the past one and a half years, but also his proven effectiveness in building and maintaining the company's strategic relationship with Marr.
Mr. Gale commented, "I am honored to lead the Company at this critical juncture. As Chairman, I have directed Calypte's transition from a lab-based diagnostic company to a lean, point of care diagnostic testing company. We are entering new markets in both the professional sectors and, for the first time, the Over-the-Counter or OTC markets. We now have approvals in parts of Africa, Southeast Asia and the Middle East, and are expanding that reach on a steady basis. We have worked hard to position ourselves in China, which is currently the largest potential market for HIV/AIDS testing. Marr has been a strong partner for us in China, and is not only assisting us in monitoring the Chinese FDA approval process, which we expect to conclude this year, but has already assisted us in establishing a sales and marketing plan for our Joint Venture to take full advantage of the vast opportunities that China has to offer."
Mr. Gale continued, "As we continue to implement our strategy for China, we have the opportunity to monetize the multi-million dollar investment that we have made in intellectual property rights. We have begun the initial steps to launch what will ultimately be an HIV-1/2 OTC OMT (Oral Fluid) test in the U.S., as well as a line of other diagnostic tests that detect a variety of other Sexually Transmitted Diseases. We are also seeking to secure a facility in the Portland area in which we would bring together the staff in our R&D and corporate headquarters, adding manufacturing capability for these new products. We expect to bring this facility on line with the objective of initiating the U.S. FDA approval process by year-end -- without any disruption to our current international plans.
Mr. Gale's background includes considerable international experience. Since October 2001, Mr. Gale has served as Executive Chairman of the Board of Directors of WaveCrest. From 1999 to 2001, he was Chairman and co-founder of End2End Wireless Limited, a UK wireless access services provider. From 1996 to 1998 he was Chief Executive of the OPIC-guaranteed AIG-Brunswick Millennium Fund based in Russia. In addition, he has held senior positions with the Asian Development Bank (ADB, Manila) and the International Finance Corporation (IFC), the private sector arm of the World Bank in Washington, D.C. He serves as a Director and as Chairman of the Audit Committee of Mechel Steel Group, (NYSE: MTL - News). Mr. Gale holds a Master of Economics degree from the University of New England, Australia, and a Higher National Diploma from the Royal Agricultural College, Cirencester, England.
The Company will release its first quarter 2006 financial results on May 15, 2006 and will schedule a conference call at that time.
AI
