News for 'CYGX'
CytoGenix, Inc. Board Appoints Industry Veteran Lex M. Cowsert, PhD as President, Chief Executive Officer and Director
HOUSTON, Nov 18, 2008 (BUSINESS WIRE) -- CytoGenix, Inc. (OTCBB:CYGX) today
announced that its Board of Directors has appointed veteran pharmaceutical
executive Dr.Lex M. Cowsert to the positions of President, Chief Executive
Officer, and Director, effective immediately. Randy Moseley, who was serving as
Interim Chief Executive Officer until a permanent replacement was named,
simultaneously resigned as Interim CEO but will continue in his role as Chairman
of the Board and Principal Financial Officer.
The appointment of Dr. Cowsert as President, CEO and Director significantly
strengthens CytoGenix's management team as the Company enters a new stage in
corporate development. Dr. Cowsert will lead the team at CytoGenix to implement
a stronger business and commercialization plan, and tighter revenue generating
strategies during this new phase of development.
"We are delighted that Dr. Cowsert is joining the team to lead CytoGenix in this
exciting stage of growth and expansion. His industry expertise in
commercialization and business development complements our current management
team and brings a new and more directed business approach to the Company," said
Mr. Moseley.
Director, Cy Stein goes on to say, "I have known Lex Cowsert for many years,
and, on behalf of the Board of Directors look forward to working with him, and
toward implementing his vision for the future of CytoGenix. We are delighted
that a person with Dr. Cowsert's extensive experience in biotech and proven
management skills has taken the position of CEO."
"I am very pleased to be joining the CytoGenix team. CytoGenix is in a pivotal
stage of its corporate development, transitioning from a discovery company to a
product development company. I am looking forward to working with the Company's
current management, its dedicated staff, and our team of world-renowned
collaborators in a concerted effort to further advance and commercialize our
platform technologies and to build shareholder value," said Dr. Cowsert.
About Dr. Cowsert
Dr. Cowsert has over 19 years of experience in drug discovery and development.
He is currently a co-founder and serves as the Chief Scientific Officer of
BellairePharma, Inc., founded in 2007, and is co-founder and CSO of
HoustonPharma, Inc., founded in 2005. From 2002 to 2006 Dr. Cowsert served as
CSO of Automated Cell, Inc., an imaging-based technology company engaged in drug
discovery and development. From 2000 to 2002 he was VP of Functional Genomics
for VistaGen Therapeutics, Inc., a stem cell-based technology company engaged in
drug discovery and development. From 1989-2000 Dr. Cowsert held a series of
positions of increasing responsibility in the scientific and clinical
development programs at Isis Pharmaceuticals, Inc. Dr. Cowsert is sole inventor
on 19 issued US Patents and a named inventor on 119 issued US Patents. Dr.
Cowsert received his BS in biology from the University of Florida and earned his
PhD in Molecular Biology from Georgetown University. Dr. Cowsert completed his
post-doctoral work at the National Cancer Institute where he successfully
competed for and was awarded an NCI Intramural Research Training Award (1987),
National Research Service Award (1988), and an NCI Biotechnology Training
Fellowship (1989).
Dr. Cowsert has a broad range of experience and expertise in both
entrepreneurial and public company settings including: technology development;
drug discovery and development; regulatory reports; FDA interactions; venture
capital and private equity; US and foreign patent applications; negotiating and
managing industrial and academic collaborations; and identifying, negotiating
and in-licensing technologies for commercial development. He has successfully
applied for and managed SBIR and RO1 government grants.
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