Healthcare Industry News: Abbott Laboratories
News Release - September 17, 2007
EraGen Announces Appointment of Blanc as Vice President, Corporate Development
MADISON, Wis.--(HSMN NewsFeed)--EraGen BioSciences Inc., a venture-backed molecular diagnostics company, today announced the appointment of L. Miguel Blanc as vice president of corporate development.Mr. Blanc brings more than a decade of business development experience to his new role at EraGen. He was most recently manager of global business development for GE Healthcare, the $15-billion business unit of General Electric.
While at GE Healthcare, Mr. Blanc was responsible for the evaluation, negotiation and execution of mergers and acquisitions, technology licensing and strategic collaborations for its $3-billion Biosciences division, which includes diagnostics. He completed the strategic assessment and due diligence for GE's entry into the life sciences market through its $11-billion acquisition of Amersham plc in 2004, among other transactions. He also negotiated a strategic collaboration with Celera Genomics for the development of cancer diagnostics. Mr. Blanc also was instrumental in the strategic assessment and due diligence for GE's announced $8-billion acquisition of the Abbott Laboratories' Diagnostics and Point of Care divisions.
Prior to joining GE Healthcare, Mr. Blanc was an executive account manager at Amersham Biosciences, a leading provider of life sciences tools and reagents that was acquired by GE in 2004. He joined Amersham from Motorola Inc., where he was successively a manager of business development in its Network Ventures Division, the corporate private-equity arm of Motorola, and a manager of strategy and business development for its life sciences business. While in the latter role, he evaluated and negotiated key corporate development opportunities, including technology licensing and strategic alliances.
"All of us at EraGen are very pleased to welcome Miguel to the team," said Irene Hrusovsky, M.D., president and chief executive of EraGen. "It is a very exciting time at EraGen and Miguel will play a significant role in the execution of our growth strategy during the next several years. We are happy to have a diagnostics industry professional with Miguel's considerable corporate development experience join EraGen's management team."
"I am delighted to be joining EraGen at this important stage in the company's evolution," Mr. Blanc said. "I believe there are significant opportunities for EraGen in the rapidly-growing molecular diagnostics market and I look forward to helping the company capture those opportunities."
Mr. Blanc earned a master's degree in business administration with honors from the University of Chicago Graduate School of Business, and a bachelor's degree in mechanical engineering from the Pontificia Universidad Catolica del Peru in Lima, Peru, where he graduated at the top of his class. Mr. Blanc is a director of the Wisconsin Biotechnology & Medical Device Association.
About EraGen BioSciences
EraGen BioSciences Inc. develops, manufactures and markets molecular diagnostic products that are driving the new era in diagnostics. The company's in-market and pipeline products, based on its patented MultiCode® platform chemistry, are the next generation of DNA-based testing for the early, accurate diagnosis of infectious diseases, genetic-based conditions and cancer. The company's goal is to become a leader in molecular diagnostics, serving the unmet clinical needs of that rapidly growing $2.5-billion market. For more information about EraGen, please visit the company's website at www.eragen.com.
Source: EraGen BioSciences
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