Illumina Announces Corporate Reorganization

Fri Jan 4, 2008 6:00am EST
 
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SAN DIEGO--(Business Wire)--Illumina, Inc. (NASDAQ:ILMN) today announced that it has
reorganized its operating structure to further leverage the synergies
between its sequencing and genotyping businesses. Under the new
structure, a newly created Life Sciences Business Unit will include
all products and services related to the research market namely the
BeadArray, BeadXpress and Sequencing product lines. The Company has
also created a Diagnostics Business Unit to put more focus on the
emerging opportunity in molecular diagnostics. The Diagnostics
Business Unit will develop diagnostic content for the BeadXpress
system, and ultimately for Illumina's Sequencing products.

   "Over the last few years we have experienced incredible growth.
This new organizational structure provides the foundation to continue
scaling our global operations and more effectively leverage our
technology assets to capitalize on future opportunities. A specific
result will be the acceleration of the integration of our sequencing
and genotyping technologies. Additionally, it will enable us to put
more focus on developing our diagnostics business," said Jay Flatley,
President and Chief Executive Officer of Illumina.

   The timing of this reorganization was driven by several management
changes. John Stuelpnagel, Senior Vice President, Chief Operating
Officer and General Manager, Arrays has decided to move to part-time
status as of April 1, 2008. Dr. Stuelpnagel is expected to have a
continuing role with the company working on key projects as an
Illumina Fellow. Additionally, he will step down from Illumina's Board
of Directors as of that date.

   "John has spent the last ten years founding, building and leading
Illumina into a pre-eminent life sciences company. Although we are
disappointed that John has decided to step down from his full time
role, we expect to continue to benefit from his broad experience,
leadership and vision," said Flatley.

   John West, Senior Vice President and General Manager, Sequencing
has announced his resignation effective February 1, 2008. "As the
former CEO of Solexa, John has been instrumental in building the next
generation sequencing market and facilitating the integration of
Solexa into Illumina. We thank John for his outstanding contributions
to Solexa and Illumina and wish him well in his future endeavors,"
Flatley said.

   Effective immediately, Christian Henry, Senior Vice President and
Chief Financial Officer will take on the role of Acting General
Manager of the Sequencing business. In addition to his other duties,
Mr. Henry's primary goal will be to effectively manage the integration
of the Sequencing business into the new combined Life Sciences
Business Unit. The integration is expected to be completed before the
end of the second quarter.

   The Company is pleased to announce that it has hired a Senior Vice
President and General Manager, Life Sciences who will be responsible
for managing the newly created Life Sciences Business Unit. We expect
this individual to fully complete the transition from his current role
to Illumina by April 1, 2008.

   Illumina is also pleased to announce that it has hired a Senior
Vice President and General Manager, Diagnostics. Expected to start in
early March 2008, this senior executive brings a wealth of diagnostic
experience to Illumina. "His leadership will help mold our diagnostic
strategy and operations to leverage the key assets of the company,"
explained Flatley.

   As a result of our rapid growth, the company has initiated
searches for a Senior Vice President Product Development and a Senior
Vice President of Operations. These new positions will report to the
General Manager, Life Sciences. We expect to integrate all product
development activities from the array and sequencing businesses under
the Senior Vice President Product Development. Similarly, all
manufacturing and materials activities will be integrated under the
Senior Vice President Operations. We will continue to operate in all
our existing development and manufacturing locations, namely San
Diego, Hayward and Little Chesterford, UK.

   "To keep pace with our rapid growth, Illumina's infrastructure has
matured significantly over the last several years. Our new
organizational structure is a required evolution on the path toward
our goal of becoming the global leader in genetic analysis. I look
forward to an exciting 2008 for Illumina," continued Flatley.

   About Illumina

   Illumina is a leading developer, manufacturer and marketer of
next-generation life science tools and integrated systems for the
analysis of genetic variation and biological function. Using our
proprietary technologies, we provide a comprehensive line of products
and services that currently serve the sequencing, genotyping, and gene
expression markets, and we expect to enter the market for molecular
diagnostics. Our customers include leading genomic research centers,
pharmaceutical companies, academic institutions, clinical research
organizations and biotechnology companies. Our tools provide
researchers around the world with the performance, throughput, cost
effectiveness and flexibility necessary to perform the billions of
genetic tests needed to extract valuable medical information from
advances in genomics and proteomics. We believe this information will
enable researchers to correlate genetic variation and biological
function, which will enhance drug discovery and clinical research,
allow diseases to be detected earlier and permit better choices of
drugs for individual patients.

   "Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: this release may contain forward-looking
statements that involve risks and uncertainties. Among the important
factors that could cause actual results to differ materially from
those in any forward-looking statements are the costs and outcome of
Illumina's litigation with Affymetrix and our ability (i) to integrate
effectively our recent acquisition of Solexa, Inc., (ii) to develop
and commercialize further our BeadArray(TM), VeraCode(TM) and
Solexa(R) technologies and to deploy new gene expression and
genotyping products and applications for our technology platforms,
(iii) to manufacture robust micro arrays and Oligator(R)
oligonucleotides, (iv) to integrate and scale our VeraCode technology,
(v) to scale further oligo synthesis output and technology to satisfy
market demand derived from our collaboration with Invitrogen, together
with other factors detailed in our filings with the Securities and
Exchange Commission including our recent filings on Forms 10-K and
10-Q or in information disclosed in public conference calls, the date
and time of which are released beforehand. We disclaim any intent or
obligation to update these forward-looking statements beyond the date
of this release.

Illumina, Inc.
Media:
Maurissa Bornstein, Public Relations Manager
858-332-4055
mbornstein@illumina.com
or
Investors:
Peter J. Fromen, Sr. Director, Investor Relations
858-202-4507
pfromen@illumina.com

Copyright Business Wire 2008

 

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