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Osmetech plc ('Osmetech' or the 'Company')
Christopher Gleeson Appointed Chairman
1 July 2009
Osmetech plc (OMH.L), a fast growing international molecular diagnostics company, is pleased to advise that, further to the announcement on June 25, 2009, Christopher Gleeson has been appointed non-executive Chairman, effective July 1, 2009. Jon Faiz Kayyem, the founder of Clinical Micro Sensors, and the inventor of the fundamental Osmetech eSensor technology, becomes Vice Chairman effective July 1, 2009.
Gleeson, 59, was formerly President, Chief Executive Officer and a Director of Ventana Medical Systems, Inc., (“Ventana”) the world’s leading supplier of automated diagnostic systems to the anatomical pathology market, which was acquired by Roche in 2008 for $3.4 billion. Following the acquisition of Ventana by Roche in February 2008 and until the end of that year, Mr. Gleeson continued as CEO of Ventana and a member of the Board of Roche Diagnostics.
Prior to joining Ventana, Gleeson was senior vice-president of Bayer Diagnostics and general manager of the U.S. commercial operations for Chiron Diagnostics, and prior to that, the founder, owner, and managing director of Australian Diagnostics Corporation, a leading diagnostics company in Australia. Gleeson attended the Pharmacy and Business Schools at Monash University in Australia.
Osmetech recently raised US$8.6 million, including $1 million from Gleeson, via a placing to continue the development and obtain regulatory clearance for further tests for Osmetech’s eSensor XT‑8 System.
Commenting on the appointment, Osmetech Vice Chairman, Jon Faiz Kayyem stated, “We are delighted to have Chris Gleeson join our Board as Chairman. Having been involved in the innovation and early development of the eSensor technology, I recognised that the opportunity today in the broad molecular diagnostics field for a simple, low cost, multi-plexed DNA analysis platform, such as the Osmetech XT-8 system, was significant. To capitalize on this opportunity and to help guide us at the Board level, I felt we needed to find someone with deep and successful commercial experience in the diagnostics industry and thus we sought out Chris Gleeson. Chris’s background in the diagnostics industry is extensive and his very successful tenure as the President and CEO of a NASDAQ listed company will be invaluable as we expedite our menu development plan, drive commercial execution in the U.S. and International markets and create long term shareholder value.”
In joining Osmetech Board Chris Gleeson commented, “I am delighted to be joining Osmetech at a time when the molecular diagnostics market is about to witness rapid growth, as new genomic information becomes clinically validated by healthcare professionals and pharmaceutical companies. This information, which can invariably be provided by the XT-8 system, will likely lead to improved diagnosis of certain disease states and treatments that are more efficacious, better tolerated and more cost effective.”
Gleeson further commented, “The XT-8 platform, which incorporates multiplexed DNA eSensor technology, is easy for customers to use and is totally scalable as the volume of DNA tests in hospitals and laboratories increases in the future. In addition the eSensor technology allows for the rapid development of new DNA tests and thus an expanded menu consistent with market demands. I am convinced that Osmetech has a market leading technology platform for multiplexed DNA tests and I am looking forward to working with the Board and management team to realize the opportunity and build a world leading molecular diagnostics company.”
Osmetech plc +44 (0)207 849 6027
James White, Chief Executive Officer
David Sandilands, Chief Financial Officer
Madano Partnership +44 (0) 207 593 4000
Matthew Moth, Mark Way
Canaccord Adams Limited +44 (0) 20 7050 6500
Robert Finlay
Henry Fitzgerald-O'Connor
About Osmetech plc
Osmetech plc is an AIM-listed public company on the London Stock Exchange. The Company is a fast developing, international diagnostics business with operations in Boston and Pasadena in the US, serving the high growth molecular diagnostic market targeting hospitals and reference laboratories.
Osmetech has a strong portfolio of over 200 issued and pending patents and has launched its first generation eSensor 4800 platform, an electrochemistry-based array system, together with an FDA cleared in vitro diagnostic test for Cystic Fibrosis carrier detection.
Osmetech’s second generation platform, the eSensor XT-8 received FDA 510(k) clearance in July 2008 together with our eSensor Warfarin Sensitivity Test. These products are now being marketed in the U.S. together with a 2C9 Genotyping Test for drug metabolism and a Cystic Fibrosis carrier detection test which are both available for research use purposes only.
The eSensor XT-8 System is designed to support a broad menu of tests and Osmetech has scheduled for commercial launch a number of further tests including: extended warfarin panel with the proprietary 4F2 marker, venous thrombosis (Factor II, Factor V Leiden and MTHFR) and the RESPLEX II respiratory pathogen assay in-licensed from Qiagen. The System provides accurate results while minimizing technician involvement and its features compare favorably to those of other molecular detection systems. Its ease of use, readily interpretable results, speed and low maintenance are particularly suited to the needs of the decentralizing market.