REHOVOT, Israel and JERSEY CITY, New Jersey, June 25 /PRNewswire-FirstCall/ -- Rosetta Genomics, Ltd. , announced today that Tamir Kazaz, the Company's CFO for the last two and a half years, has resigned to pursue other interests. The Company has begun a search for a new Chief Financial Officer. Mr. Kazaz is expected to leave in the second half of 2008, and will support the company in its search and during the transition of his duties.
The planned acquisition of Parkway Clinical Laboratories and the anticipated launch of its first three products in the United States will expand the Company's focus from R&D into a full commercial entity. With the buildup of the commercial activities in the United States, the Company expects to increase its senior management presence in the United States.
"The entire staff at Rosetta Genomics thanks Tamir for the service that he has provided to the Company over his tenure and wishes him well in the future," said Amir Avniel, President and CEO of Rosetta Genomics.
About Rosetta Genomics
Rosetta Genomics is a leader in the development of microRNA-based diagnostics and therapeutics. Founded in 2000, the company's integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong IP position and proprietary platform technologies, Rosetta Genomics is working to develop a full range of microRNA-based diagnostic and therapeutic products, focusing primarily on cancer and various women's health indications. The company expects its first microRNA-based diagnostic tests to be launched during 2008.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to the role of microRNAs in human physiology and disease, the potential of microRNAs in the diagnosis and treatment of disease, and Rosetta's expectation to increase its senior management presence in the United States constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to: Rosetta's approach to discover and develop novel diagnostics and therapeutic products, which is unproven and may never lead to marketable products; Rosetta's ability to fund and the results of further pre-clinical and clinical trials; Rosetta's ability to obtain, maintain and protect the intellectual property utilized by Rosetta's products; Rosetta's ability to enforce its patents against infringers and to defend its patent portfolio against challenges from third parties; Rosetta's ability to obtain additional funding to support its business activities; Rosetta's dependence on third parties for development, manufacture, marketing, sales, and distribution of products; Rosetta's ability to successfully develop its product candidates, all of which are in early stages of development; Rosetta's ability to obtain regulatory approval for products; competition from others using technology similar to Rosetta's and others developing products for similar uses; Rosetta's dependence on collaborators; and Rosetta's short operating history; as well as those risks more fully discussed in the "Risk Factors" section of Rosetta's Annual Report on Form 20-F for the year ended December 31, 2006 as filed with the Securities and Exchange Commission. In addition, any forward-looking statements represent Rosetta's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.
Contact:
Ron Kamienchick,
T: +1-646-509-1893,
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