Exten Industries (fka BB: EXTI)

[Patricia_1]

News 11/24/03 New Board Member/Maggio

WARWICK, R.I.--(BUSINESS WIRE)--Nov. 24, 2003--Exten Industries, Inc. (Exten) (OTCBB:EXTI - News) announced today that Edward T. Maggio, Ph.D, a seasoned founder, director and CEO of biotechnology companies, has joined Exten Industries board of directors.

Jerry Newmin, Chairman and CEO of Exten, enthusiastically said, "Ed Maggio has extensive experience with pioneering companies like ours, and is highly respected in bioscience, both as an entrepreneur and as a scientist. We are truly thrilled that this accomplished executive and director will bring his talents and experience to Exten's board."

Dr. Maggio is currently Chief Executive Officer and a founder of Cengent Therapeutics Inc., renamed from Structural Bioinformatics, Inc., upon the acquisition of GeneFormatics, Inc. in May 2003. Cengent Therapeutics uses advanced 3-D protein structure technologies to accelerate and significantly cut the cost of discovering new drugs. Cengent currently has pre-clinical drug discovery programs in the obesity/diabetes and anti-infective areas. He has been a founder and board member of six public and private life sciences companies in Southern California.

Dr. Maggio commented, "Exten Industries' cell-based toxicological and drug screening technologies address certain critical needs among pharmaceutical and biotech companies to make more accurate assessments of the likely success of new drug candidates before they are actually placed into clinical trials. This technology promises to increase the efficiency of drug discovery and save many millions of dollars by reducing the ultimate failure rate in clinical trials, benefiting both drug companies and consumers alike."


http://biz.yahoo.com/bw/031124/245268_1.html