Tegal Receives Shareholder Approval to Change Corporate Name to CollabRx, Inc.
September 25 2012 - 4:02PM
Business Wire
Tegal Corporation (NASDAQ: TGAL) today announced shareholder
approval of an amendment to its Certificate of Incorporation
changing its corporate name to CollabRx, Inc. Tegal obtained
shareholder approval of the name change at its annual meeting
today.
CollabRx stock will begin trading Thursday, September 27, 2012
on the Nasdaq Stock Market under the symbol, CLRX. The corporate
name and trading symbol change follows the July 12, 2012, closing
of a transaction in which Tegal acquired CollabRx, Inc., a
privately held technology company in the rapidly growing market of
interpretive content and data analytics for genomics-based
medicine.
The Chief Executive Officers of the two constituent companies,
Thomas Mika of Tegal and James Karis of CollabRx, serve as co-CEOs
of the combined, publicly traded company, with headquarters in San
Francisco, CA. Mr. Mika continues to be Chairman of the
company.
Shareholders today approved the election of Messrs. Mika and
Karis, as well as Tegal directors Gilbert Bellini, Jeffrey M.
Krauss and Carl Muscari, to one-year terms as members of the
CollabRx Board of Directors. Shareholders today also ratified the
appointment of Burr, Pilger & Mayer LLP as the company’s
Independent Registered Public Accounting Firm for the fiscal year
ending March 31, 2013.
The corporate name change will not affect the validity or
transferability of any currently outstanding stock certificates. It
is not necessary for shareholders with certified shares to
surrender or exchange any stock certificates they currently hold as
a result of the corporate name change.
CollabRx offers cloud-based expert systems that provide
clinically relevant interpretive knowledge to institutions,
physicians, researchers and patients for genomics-based medicine in
cancer and other diseases to inform health care decision making.
With access to approximately 50 clinical and scientific advisors at
leading academic institutions and a suite of tools and processes
that combine artificial intelligence-based analytics with
proprietary interpretive content, the company is well positioned to
participate in the $300 billion value-added “big data” opportunity
in the US health care market (as reported by McKinsey Global
Institute), over half of which specifically targets areas in cancer
and cancer genomics.1
CollabRx content is dynamically updated and organized in a
knowledgebase that includes information on molecular diagnostics,
medical tests, clinical trials, drugs, biologics and other
information relevant for cancer treatment planning. Capturing how
highly respected practicing physicians use this information in the
clinical setting further refines the knowledgebase.
“The publicly traded CollabRx is a technology leader informing
the next generation of health care,” said Mr. Mika. “CollabRx uses
information technology to aggregate and contextualize the world's
knowledge on genomics-based medicine with specific insights from
the nation's top cancer experts – and we are starting with the area
of greatest need: advanced cancers in patients who have effectively
exhausted the standard of care. We gratified that our shareholders,
partners and clients are so supportive of our mission.”
CollabRx, Inc.
CollabRx is a recognized leader in “cloud-based” expert systems
to inform health care decision-making. CollabRx uses information
technology to aggregate and contextualize the world's knowledge on
genomics-based medicine with specific insights from the nation's
top cancer experts starting with the area of greatest need:
advanced cancers in patients who have effectively exhausted the
standard of care. More information may be obtained at
www.collabrx.com.
Safe Harbor Statement
This press release contains forward-looking statements that may
include statements regarding the intent, belief or current
expectations of Tegal, CollabRx and their respective management.
Forward looking statements include statements about the benefits
and advantages of the acquisition for Tegal and CollabRx. Actual
results could differ materially from those projected in the
forward-looking statements as a result of a number of important
factors, including but not limited to the risk that the acquisition
will not close as the transaction is subject to certain closing
conditions. In addition, if and when the transaction is closed,
there will be risks and uncertainties related to Tegal’s ability to
integrate CollabRx successfully, the risk that the anticipated
benefits from the acquisition may not be fully realized or may take
longer to realize than expected; and competition and its effect on
the combined company’s performance. Additional factors that may
affect future results are contained in the SEC filings for Tegal,
including but not limited to Tegal’s Annual Report on Form 10-K for
the year ended March 31, 2012. Tegal and CollabRx each disclaim any
obligation to update and revise statements contained in this
release based on new information or otherwise.
1 “Big data: The next frontier for innovation, competition and
productivity”, McKinsey Global Institute, May 2011
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