CAMBRIDGE, Mass., Aug. 7, 2013 /PRNewswire/ -- Caldera Pharmaceuticals and its subsidiary XRpro Corp, a provider of proprietary drug discovery services for high-throughput ion-channel inhibitor assays and enzyme activity assays, announces that Gary G. Altman has accepted the position of President, CEO and a member of the Board of Directors.
At the heart of the company's science are instruments and technologies utilizing X-ray fluorescence which enhances the efficiency, speed, and efficacy of early-stage drug discovery. The company provides real-time kinetic data on hERG channel activity on intact cell populations, and can also screen 10,000 ion-channel inhibitors in one day, as well as screen 10,000 enzyme substrates in a few hours.
Mr. Altman comes to XRpro Corp. with a background in leading public and private technical businesses in drug discovery and in vitrodiagnostics. He successfully led a global business at Beckman Coulter and served as VP of Global Strategy, Market & Business Development for a $1B unit of Beckman Coulter until its acquisition by Danaher. In addition, Gary was co-founder of Sequoia Pharmaceuticals ofGaithersburg, MD.
Altman said he was attracted to XRpro because of its unique technology and its broad applications. "I'm extremely optimistic about the technology, and its commercial potential. We have several competitive advantages including our ion-channel inhibitor screening that can evaluate 10,000 compounds in one day. In addition, we can get real-time, ion-channel kinetics on populations of intact cells. Add to that the capability to screen 10,000 substrate candidates in a few hours. These are impressive assets that will improve the efficiency, and efficacy, of early-stage drug discovery. The science is solid, the patent estate is formidable, and we have a capable team," said Altman. "Equally important is the fact that we have revenues, a supportive and well-functioning Board."
"Gary brings experience in leading scientific businesses, and establishing operational excellence with a focus on customer satisfaction. This is exactly what we need to build on our technological success, and early commercial success," says Ben Warner founder and Chairman of the Board. Warner earned his PhD in Chemistry from MIT, developed and then licensed critical IP from Los Alamos National Laboratory. He is an inventor on more than 30 issued and pending patents.
Altman serves as President, CEO and a member of the Board of Directors of Caldera Pharmaceuticals, Inc., and its subsidiary, XRpro Corp, located in Los Alamos, NM and Cambridge, MA.
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This release includes forward-looking statements on the Company's current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding the expected contribution of Mr. Altman and our technology. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in the Company's forward-looking statements include, among others, our ability to sell and market our technology and services, the contribution and integration of the Company's new management and the other factors described in the Company's Report on Form 10-K for the year ended December 31, 2012 and any other filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
SOURCE Caldera Pharmaceuticals, Inc.