WaferGen Bio-systems Appoints Keith Warner As COO And Michael Henighan As CFO

(RTTNews) - WaferGen Bio-systems Inc. (WGBS.OB) announced Monday that it has appointed Keith Warner as its Chief Operating Officer and Michael Henighan as its Chief Financial Officer.

Prior to joining WaferGen, Mr. Warner served as a consultant to several life science investment firms since 2009.

As a senior executive, Warner has served in leadership roles in both commercial and general management at such firms as Novartis/Chiron as Vice President, Worldwide Marketing, and as Chief Executive Officer of Biodesix, an early stage technology firm focused on personalizing cancer therapies through advanced detection solutions. Earlier in his career, Warner held numerous positions of increasing responsibility in manufacturing, sales and marketing and management at Abbott Diagnostics.

Prior to joining WaferGen, Henighan was a founder and Chief Financial Officer of Aplegen, Inc. since early 2011.

From 1997 to 2011, Henighan served as Chief Financial Officer or Corporate Controller at three publicly-traded healthcare companies including Alpha Innotech, Inc., HemoSense Inc., and Cholestech Corp. Prior to 1997, he also held senior management positions with Solectron, Applied Biosystems, and Motorola.

As per their employment agreements with WaferGen, Warner and Henighan are entitled to receive inducement options to purchase shares of the Company's common stock equal to 1.25% and 0.50%, respectively, of the Company's then outstanding common stock , provided such offering yields gross proceeds in an amount equal to or greater than $15 million, or equal to or greater $20 million, in the case of Mr. Warner's and Mr. Henighan's agreements, respectively.

The options will have an exercise price equal to the closing market price on the grant date and vest over a period of three years. One-third of the shares subject to the options vest on the first anniversary of the grant date, and the remaining two-thirds of the shares subject to the options vest in eight equal quarterly installments in years two and three following the grant date, subject to executive's continued employment with the Company through each vesting date.