SOURCE: Althea Technologies, Inc.

January 24, 2006 09:00 ET

Althea Technologies Appoints R. Gary Gilmore as Chief Financial Officer and Promotes Rick Hancock to Chief Operating Officer

SAN DIEGO, CA -- (MARKET WIRE) -- January 24, 2006 -- Althea Technologies, Inc., a leading provider of innovative technologies and services for pharmaceutical development and manufacturing, announced today the appointment of R. Gary Gilmore as Chief Financial Officer, and the promotion of Rick Hancock to Chief Operating Officer.

In his role as CFO, Mr. Gilmore will focus on developing strategies to support the company's accelerating growth. He has over 20 years experience in corporate finance, including over 15 years as Chief Financial Officer in a variety of industries. Before joining Althea, he was Chief Financial Officer for Preventsys, Inc., an enterprise software development and marketing firm. Prior to that, he served as Chief Financial Officer for Holocom Networks, a network infrastructure company. Mr. Gilmore has also provided extensive management consulting services to Fortune 500 companies and start-up organizations. Recent consulting clients include Ligand Pharmaceuticals, AMCC, and Peregrine Systems. Mr. Gilmore's experience includes strategic planning, venture capital fundraising, and design and implementation of systems to manage growth, and profitability.

Mr. Hancock has worked at Althea since 1998 and has led the development of the manufacturing division, which includes fill/finish, plasmid, and protein production. Prior to joining Althea he served in the biotechnology industry for over twenty years, having held process development and GMP manufacturing positions at Hybritech, Genetics Institute and previous to Althea as Senior Director of Operations at The Immune Response Corporation. He has extensive experience in production of monoclonal antibodies, recombinant proteins, vaccine development and gene therapy product development.

Co-President and Co-CEO of Althea, Dr. Magda Marquet, stated, "We are delighted to welcome Mr. Gilmore to Althea. He is a proven leader with extensive experience in accounting and financial operations and will make an excellent addition to Althea's management team. As our CFO, I am confident that Gary will support the company's financial endeavors. I also congratulate Rick Hancock on his promotion to COO. Rick has played an important role in developing Althea's contract manufacturing services through successful implementation of new service lines to better serve our customers. The strong leadership of Rick and Gary will continue to guide our growth in the development and manufacture of novel biopharmaceuticals."

About Althea Technologies, Inc.

Althea Technologies, a leading San Diego-based pharmaceutical services firm, provides critical manufacturing and development services that support researchers worldwide in their advancement of novel therapies and efforts to apply new genomic information. Althea's services include cGMP contract manufacturing of recombinant proteins, DNA-based therapeutics and vaccines, aseptic filling, and gene quantification using real-time PCR and gene expression analysis under GLP conditions. Additionally, Althea has introduced new services and technologies for the identification and understanding of gene signatures with innovative tools such as the company's proprietary eXpress Profiling™ technology. For more information, visit www.altheatech.com.

Contact Information

  • Contact:

    Althea Technologies, Inc.
    Alan Moore
    Executive Vice President and CBO
    (858) 882-0205
    Email Contact