Healthcare Industry News: GE Capital
News Release - March 19, 2008
Predictive Biosciences Appoints Life Sciences Industry Veteran Peter Klemm, Ph.D., as Company's First President and CEOCompany Poised for Growth; Leveraging Proprietary Non-Invasive Cancer Diagnostic Technology
LEXINGTON, Mass.--(HSMN NewsFeed)--Predictive Biosciences, an emerging molecular diagnostics company developing non-invasive diagnostic products for informed cancer management™, today announced that Peter Klemm, Ph.D., has been named the company’s first president and chief executive officer, as well as a director of the company, effective March 24, 2008. Dr. Klemm was formerly chief executive officer of molecular diagnostics company GeneOhm Sciences, which he built from its inception in 2002 and successfully sold to Becton Dickinson in 2006 for $230 million. Dr. Klemm’s appointment follows the recent announcement that Dr. Martin Madaus, president, CEO and chairman of Millipore Corporation, joined the board of directors of Predictive Biosciences.
“Throughout Peter’s 19 years in the life sciences industry, he has demonstrated exceptional vision and leadership and we are delighted to welcome him to our team,” said Mara Aspinall, chairman of Predictive Biosciences’ board of directors and past president, Genzyme Genetics. “Peter’s combination of industry expertise and entrepreneurial spirit will help spearhead Predictive Biosciences’ growth initiatives—ultimately to allow for individualized diagnostics and clinical interventions to improve the management of cancer patients.”
There exists a tremendous need for highly accurate, convenient diagnostics to provide physicians with actionable information for personalized diagnostic follow-up and treatment plans – avoiding expensive, invasive procedures and increasing patient compliance and comfort. Predictive Biosciences’ urine-based tests will employ patented and proprietary protein biomarkers and clinical algorithms (such as CIDD, or Clinical Intervention Determining Diagnostic™) enabling physicians to reliably determine the presence or absence of cancer. This information, incorporated into current standard clinical practice, should lead to more effective utilization of existing diagnostic tools and ultimately better outcomes for patients.
“I am honored to lead Predictive Biosciences, a company with the highest caliber of management, investors, board members and scientific advisors combined with a revolutionary, proprietary cancer diagnostics technology platform poised to address a significant global need,” said Dr. Klemm. “This is an exciting time for Predictive Biosciences, and I look forward to working with the team and board to achieve key corporate milestones and realize the significant growth opportunities that lie ahead for the company.”
Robert S. Langer, Sc.D., a member of Predictive Biosciences’ board of directors and Institute Professor at the Massachusetts Institute of Technology, added, “Peter shares our collective passion and vision for Predictive Biosciences’ proprietary cancer diagnostic technology platform and will be a tremendous asset given his proven track record of strong performance and successful product development and commercialization.”
Prior to Dr. Klemm’s tenure as chief executive officer with GeneOhm Sciences, he was chief executive officer of JOMED, Inc., a Swiss-based company that develops and manufactures products for interventional cardiology, radiology and minimally invasive vascular surgery. Following JOMED’s successful initial public offering and the acquisition of Endosonics, Inc., Dr. Klemm moved to the United States to integrate the companies and was appointed chief executive officer.
In advance of his time at JOMED, Dr. Klemm served as senior vice president of research and development at Gruenenthal GmbH, a European pharmaceutical company, where he led efforts to develop state-of-the-art drug discovery technologies and central analgesic therapies. Additionally, Dr. Klemm held the position of senior scientist with Aventis in their cardiovascular drug discovery unit and served as a post-doctoral fellow at the William Harvey Research Institute in London with Sir John Vane.
About Predictive Biosciences
Leveraging its portfolio of patented biomarkers and clinical algorithms, Predictive Biosciences is pioneering intervention diagnostic assays for informed cancer management™. Predictive Biosciences’ tests will enable physicians to reliably determine the presence or absence of cancer. This information, incorporated into current standard clinical practice, should lead to more effective utilization of existing diagnostic tools and ultimately better outcomes for patients. Predictive Biosciences’ first assays are designed to detect urinary biomarkers fundamentally associated with the physiological changes resulting from cancer development and progression. The initial focus for these tests will be the growing cancer survivor population and the large number of individuals undergoing clinical workups for cancer. Predictive Biosciences was launched in 2006 and is privately funded by Highland Capital Partners and FlybridGE Capital Partners (formerly IDG Ventures Atlantic). For more information and partnership inquiries, visit Predictive Biosciences’ website at www.predictivebiosci.com.
Source: Predictive Biosciences
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