Strategic Diagnostics Appoints Kevin J. Bratton as Chief Financial Officer

Tue May 26, 2009 4:02pm EDT
 
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NEWARK, Del., May 26 /PRNewswire-FirstCall/ -- Strategic Diagnostics Inc.
(Nasdaq: SDIX) - today announced that Kevin J. Bratton has joined the Company
as its Vice President of Finance and Chief Financial Officer, effective June
1, 2009.  Mr. Bratton was most recently Senior Vice President Business
Operations for EUSA Pharma (USA), Inc. in Langhorne, Pennsylvania.  Mr.
Bratton had been Senior Vice President and Chief Financial Officer of Cytogen
Corporation in Princeton, New Jersey prior to its acquisition by EUSA Pharma,
Inc. in May 2008.  

Mr. Bratton has over 35 years of experience in all phases of multi-national
financial operations across the healthcare, biotechnology and technology
industries, including developing strategic plans and annual budgets as well as
financing negotiations and merger & acquisition transactions.  Most recently
at EUSA Pharma (USA), Mr. Bratton's responsibilities included business
development and sales in Latin America and Canada.  At Cytogen, he led the
financial review of strategic alternatives resulting in an acquisition by EUSA
Pharma, Inc.  Prior to joining Cytogen, Mr. Bratton was Chief Financial
Officer at Metrologic Instruments, Inc., a global technology company, where he
directed the company's finance operations during a period of significant
growth in sales, net income, cash flow from operations, and working capital.
Previously, Mr. Bratton worked at The JPM Company, where he served as chief
financial officer and as director of external reporting. Prior to joining JPM,
Mr. Bratton worked for more than 20 years in the healthcare sector.  He was
vice president of finance and treasurer for the biotechnology company IGI,
Inc., and corporate controller for the specialty medical company Delmed, Inc. 
Mr. Bratton began his career with the public accounting firm Touche Ross & Co.
(now Deloitte & Touche LLP). He has a bachelor of science in business and
accounting from Northeastern University.

 "We welcome Kevin to SDI's executive team," commented Fran DiNuzzo, the
Company's President and CEO. "Kevin comes to SDI with a wealth of knowledge
and experience in lead financial roles, most recently in the life sciences
arena.  His various CFO positions have allowed him to work on a variety of
strategic plans and financing deals.  He will play a crucial role at SDI in
helping us align our dynamic business focus with our financial strategy.  As
we continue to leverage our core technology platforms and emerge in the life
sciences marketplace, we will look to Kevin to effectively maximize our
financial resources and create value moving forward."

"I am thrilled to join the SDI team," added Mr. Bratton.  "I look forward to
guiding the Company financially as we refocus our strategic direction toward
life sciences.  Having worked at high growth companies in the past, I plan to
establish financial plans that will allow SDI to best navigate our business
development path and sustain growth." 

As part of Mr. Bratton's employment arrangements, he will receive a
nonqualified option to purchase 75,000 shares of common stock at an exercise
price of $1.50, as well as 25,000 shares of restricted stock, subject to the
terms set forth in grant agreements to be dated as of June 1, 2009. Both the
option and the restricted stock vest in four equal annual installments,
beginning on the first anniversary of the date of grant.

About Strategic Diagnostics Inc.

Strategic Diagnostics Inc. is a leading provider of antibody technology to the
life science market place.  Additionally, the Company provides
biotechnology-based detection solutions for a broad range of food, water,
agricultural, and environmental applications. By applying its core
competencies of antibody and assay development, the Company produces unique,
sophisticated reagents, reagent systems, antibody design services and
biodetection solutions to customer needs. Customers benefit from the
enablement of their research into critical health care challenges of disease
understanding, therapeutic development and diagnostic discovery.  Industrial
customers benefit with quantifiable "return on investment" by reducing time,
labor, and/or material costs. All this is accomplished while increasing
accuracy, reliability and actionability of essential test results. The Company
is focused on sustaining this competitive advantage by leveraging its
expertise in antibody design, immunology, proteomics, bio-luminescence and
other bio-reactive technologies to continue its successful customer-focused
research and development efforts. Recent innovations in high throughput
production of antibodies from genetic antigens will complement the Company's
established leadership in commercial and custom antibody production for the
Research, Human/Animal Diagnostics, and Pharmaceutical industries, and
position the Company for broader participation in proteomics research and
discovery.

This news release contains forward-looking statements reflecting SDI's current
expectations. When used in this press release, the words "anticipate",
"could", "enable", "estimate", "intend", "expect", "believe", "potential",
"will", "should", "project" "plan" and similar expressions as they relate to
SDI are intended to identify said forward-looking statements. Investors are
cautioned that all forward-looking statements involve risks and uncertainties,
which may cause actual results to differ from those anticipated by SDI at this
time. Such risks and uncertainties include, without limitation, changes in
demand for products, delays in product development, delays in market
acceptance of new products, retention of customers and employees, adequate
supply of raw materials, the successful integration and consolidation of the
Maine production facilities, inability to obtain or delays in obtaining fourth
party, including AOAC, or required government approvals, the ability to meet
increased market demand, competition, protection of intellectual property,
non-infringement of intellectual property, seasonality, and other factors more
fully described in SDI's public filings with the U.S. Securities and Exchange
Commission.
    Company Contact:                   Investor Contact:
    Hilary Bond                        Brian Korb
    Financial Specialist               The Trout Group
    (302) 456-6789                     (646) 378-2923
    www.sdix.com                       bkorb@troutgroup.com



SOURCE  Strategic Diagnostics Inc.

Company Contact: Hilary Bond, Financial Specialist, +1-302-456-6789; or
Investor Contact: Brian Korb, The Trout Group, +1-646-378-2923,
bkorb@troutgroup.com

 

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