Naming In The News
Orchid BioSciences, Inc. to Change Its Name to Orchid Cellmark Inc.
PRINCETON, N.J., June 9 /PRNewswire-FirstCall/ – Orchid BioSciences, Inc., a leading worldwide provider of identity DNA testing services, today announced that its stockholders approved a proposal to change the company's name to Orchid Cellmark Inc. The proposal was approved yesterday at Orchid's annual meeting of stockholders. The name change to Orchid Cellmark Inc. will become effective on June 15, 2005. Orchid's shares will continue to trade on the Nasdaq National Market under the symbol "ORCH".
"Since 1987 the Cellmark brand has been associated with innovation and leadership in identity DNA testing in both the U.S. and U.K., so we believe that the name Orchid Cellmark more accurately reflects our current status and strong focus on being a leading provider of genetic profile information worldwide," said Paul J. Kelly, M.D., president and chief executive officer of Orchid. "The Cellmark name is well-recognized in the criminal justice community, reflecting Cellmark's almost two decades of pioneering work in forensic DNA testing, and we have built on and extended that brand equity in our family relationship and agriculture service lines. We look forward to continuing to grow our business globally under the Orchid Cellmark brand as identity DNA testing is increasingly used for forensic, parentage, immigration, adoption, security, food safety and other important applications."
Orchid is a leading provider of identity DNA testing services for the human identity and agriculture markets. In the human identity area, the company provides DNA testing services for forensic, family relationship and security applications. In the agriculture field, Orchid provides DNA testing services for food safety and selective trait breeding. Orchid's strong market positions in these segments reflect the company's accredited laboratories in the U.S. and U.K., its innovative genetic analysis technologies and expertise, and the world-renowned Cellmark brand that has been associated with exceptional quality, reliability and customer service for nearly two decades. More information on Orchid can be found at http://www.orchid.com
All statements in this press release that are not historical are forward- looking statements within the meaning of Private Securities Litigation Reform Act of 1995, including statements regarding our belief that the name Orchid Cellmark more accurately reflects our current status and strong focus on being a leading provider of genetic profile information worldwide. Such statements are subject to the risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technologies, product development, manufacturing, market acceptance, cost and pricing of Orchid products and services, dependence on government funding and collaborations, regulatory approvals, competition, intellectual property of others, patent protection and litigation. These risks and other additional factors affecting Orchid's business are discussed under the headings "Risks Related to Our Business" and "Risks Associated with Our Common Stock" in Orchid's Annual Report on Form 10- K for the year ended December 31, 2004, as filed with the Securities and Exchange Commission, and in other filings made by Orchid with the Securities and Exchange Commission from time to time. Orchid expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Orchid's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based, except as may be required by law.