Healthcare Industry News: Sequenom
News Release - February 5, 2007
Sequenom Names Steven Owings Vice President of Commercial Development, Prenatal DiagnosticsSAN DIEGO, Feb. 5 (HSMN NewsFeed) -- Sequenom, Inc. (Nasdaq: SQNM ) today announced that it has named Steven Owings to the newly created position of Vice-President of Commercial Development, Prenatal Diagnostics. Mr. Owings will lead the Company's commercialization of its non-invasive prenatal diagnostic technology currently under development. The Company expects application of its non-invasive technology for fetal Rhesus D (RhD) typing to first become available through a licensed clinical laboratory during the first half of this year.
"Steve is ideal for this position as he brings a breadth of diagnostic commercialization and sales leadership experience to Sequenom, including a history of successful genomic test launches," said Harry Stylli, Ph.D., President and Chief Executive Officer. "We look forward to his contributions as we work to build a non-invasive prenatal diagnostic franchise, create value, and maximize our commercial opportunities."
"Sequenom's non-invasive approach to prenatal genetic testing has the potential to create a paradigm shift away from highly invasive procedures, such as amniocentesis, that pose risk to both mother and child," said Mr. Owings. "Joining Sequenom at this time provides an exciting opportunity for me to apply my industry experience and passion for introducing novel technology."
Mr. Owings brings to Sequenom more than 28 years of business leadership experience in the diagnostics and biotechnology industries. For nearly 20 years, Mr. Owings held various managerial and sales positions at Roche Diagnostic Systems. From 1992 to 1997, as Director of the PCR Business Unit, U.S., he assisted in transitioning PCR technology from research laboratory use to commercial laboratories, hospitals and healthcare providers nationwide. Through innovative marketing efforts, such as the creation and implementation of third-party reimbursement strategies and patient assistance programs, he facilitated the successful launch of the company's first FDA-approved PCR test for Chlamydia trachomatis and first FDA-approved test to measure the amount of virus in an HIV/AIDS patient's blood.
During his tenure at Digene Corporation, as Vice President of Sales and Marketing, Mr. Owings helped launch the first FDA approved HPV assay into the clinical diagnostics market. Mr. Owings also served as Vice President, Sales and Marketing for Visible Genetics Inc., purchased by Bayer Diagnostics in 2002. At Visible Genetics Mr. Owings lead the North and Latin American sales and marketing teams and was instrumental in the launch of the first fully integrated FDA-cleared genomic device for the assessment of HIV drug resistance. Most recently, he served as President, North America, of Primagen Inc., a privately held molecular diagnostics company, where he developed licensing agreements with major diagnostic and laboratory service organizations.
Mr. Owings holds a Bachelor of Science Degree from Northern Arizona University.
Sequenom is committed to providing the best genetic analysis products that translate genomic science into superior solutions for biomedical research, molecular medicine, agricultural applications, and non-invasive prenatal testing. The Company's proprietary MassARRAY® system is a high-performance DNA analysis platform that efficiently and precisely measures the amount of genetic target material and variations therein. The system is able to deliver reliable and specific data from complex biological samples and from genetic target material that is only available in trace amounts. The Company has exclusively licensed intellectual property rights for the development and commercialization of non-invasive prenatal genetic tests for use with the MassARRAY system and other platforms.
Sequenom® and MassARRAY® are trademarks of Sequenom, Inc.
Except for the historical information contained in this press release, the matters set forth herein, including statements regarding Sequenom's commercialization of its non-invasive prenatal diagnostic technology, expected application of Sequenom's non-invasive technology for fetal Rhesus D typing and its availability during the first half of this year, the future contributions of Mr. Owings to Sequenom and the opportunity for Mr. Owings, Sequenom's work to build a non-invasive prenatal diagnostic franchise, create value, and maximize commercial opportunities, the potential of Sequenom's non-invasive approach to prenatal genetic testing to create a paradigm shift away from highly invasive procedures, and Sequenom's plans to develop and commercialize non-invasive prenatal genetic tests for use with the MassARRAY system and other platforms, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with reliance upon the efforts of other parties, new technology development, product development and commercialization, competition, government regulation, obtaining or maintaining regulatory approvals, market acceptance of technology and products including Sequenom's non-invasive prenatal diagnostic technology, and other risks detailed from time to time in Sequenom's SEC filings, including Sequenom's Annual Report on Form 10-K for the year ended December 31, 2005, Sequenom's most recently filed quarterly report on Form 10-Q, and other documents subsequently filed with or furnished to the U.S. Securities and Exchange Commission (SEC). These forward-looking statements are based on current information that is likely to change. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Sequenom undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
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