Lynx Therapeutics, Inc. (Nasdaq:LYNX) today announced that
Mary L. Schramke Ph.D., 49, has been named acting chief
executive officer of the company effective December 15, 2004.
Dr. Schramke, who joined Lynx in 2003, succeeds Kevin P.
Corcoran, who has resigned as Lynx's president, chief executive
officer and director to pursue another business opportunity.
"Mary has integral knowledge of
our technology, our products, our markets and our people, and
will serve as acting chief executive officer at Lynx while we
work toward the completion of our proposed business combination
with Solexa," said Craig C. Taylor, Lynx's chairman of the
board. "Next-generation DNA sequencing is expected to be based
on molecular arrays and both Lynx and Solexa have been advancing
toward this target for more than five years. By combining
technologies, intellectual property and staffs, we expect to
accelerate product development with the goal of releasing our
first commercial instrument system in 2005."
"I would like to thank Kevin
for his nine years at Lynx, during which he served in a variety
of managerial positions and had direct responsibility for our
short read DNA sequencing technology," added Mr. Taylor. "We
wish him well in his new endeavors."
Commenting on her appointment,
Dr. Schramke said, "Along with my colleagues at Lynx, I see an
exceptional future for our company through the proposed business
combination with Solexa, I firmly believe this proposed business
combination is in the best interest of our company, our
customers, our employees and our stockholders. I am delighted to
participate as acting chief executive officer and I am committed
to getting this transaction completed."
Dr. Schramke joined Lynx in
2003 as senior director of business development and was
subsequently promoted to vice president of product development.
Previously she was a biotechnology business development
consultant at InterPro Services, Inc. Dr. Schramke also served
for three years at the gene discovery firm, Hyseq
Pharmaceuticals, Inc., most recently as vice president of
business development. She has held a variety of managerial
positions at Cellomics, Inc., CLONTECH Laboratories and Bio-Rad
Laboratories. Dr. Schramke holds a Ph.D. in microbiology from
Louisiana State University, Baton Rouge, and completed her
post-doctoral training in genetics at the University of
Missouri-Columbia. Dr. Schramke also holds an MBA from John F.
Kennedy University.
On October 29, 2004, Lynx filed
a Registration Statement on Form S-4 regarding the proposed
transaction with Solexa and other matters with the Securities
and Exchange Commission (SEC), which is available at the SEC's
Web site at www.sec.gov. The transaction, which is subject to
approval by the Lynx stockholders and acceptance by the Solexa
shareholders, is expected to close in the first quarter of 2005.
Lynx is a leader in the
development and application of novel genomic analysis solutions.
Lynx's short read sequencing instruments analyze millions of DNA
molecules in parallel enabling genome structure characterization
at an unprecedented level of resolution. As applied to gene
expression analysis, short read sequencing provides
comprehensive and quantitative digital information important to
modern systems biology research in the pharmaceutical,
biotechnology and agricultural industries.
