Healthcare Industry News: Life Technologies Corp
News Release - February 2, 2012
Ronnie Andrews Joins Life Technologies as President, Medical SciencesLeveraging 25-Plus Years Diagnostic Industry Experience, Andrews Will Shape Life Technologies Molecular Diagnostics Business
CARLSBAD, Calif., Feb. 2, 2012 -- (Healthcare Sales & Marketing Network) -- Life Technologies Corporation (NASDAQ: LIFE ) today announced that Ronnie Andrews, former CEO of Clarient and Segment Leader, GE Molecular Diagnostics, has joined the company as President, Medical Sciences. Andrews has more than 25 years of experience in the diagnostics industry, including leadership positions at companies such as Abbott Diagnostics and Roche Diagnostics.
As President, Medical Sciences at Life Technologies, Andrews will apply his expertise to expand Life's presence in the diagnostics and personalized medicine space through strategies including short and long term partnerships.
"Ronnie is one of the most dynamic and respected leaders in the diagnostic industry," said Gregory T. Lucier, Life Technologies' Chairman and Chief Executive Officer. "He adds to Life's management team a deep expertise in commercializing diagnostics, particularly in the molecular domain."
Andrews' accomplishments in diagnostics include:
* GE Healthcare – As CEO Clarient and Segment Leader, GE Molecular Diagnostics, Andrews led integration of Clarient, maintaining 20 per cent annual growth and establishing a strategic plan to expand GE's presence in oncology diagnostics.
* Clarient – As CEO, Andrews transformed former ChromaVision into a comprehensive cancer diagnostics company, leading the organization from $6MM in annual revenue to $120MM. He raised more than $50MM in capital to fund growth, obtained exclusive licenses for oncology biomarkers and successfully launched new molecular tests for cancers, including leukemia and melanoma. GE Healthcare purchased Clarient in December of 2010 for $587MM, a 5.8-fold multiple of sales.
* Roche Molecular Diagnostics – As Senior Vice President, Global Marketing and Commercial Business Operations, Andrews directed annual growth rates of 20 per cent and was instrumental in building Roche's HIV molecular testing business, establishing molecular as the gold standard for infectious disease testing.
"Life has multiple platforms that can be leveraged in the diagnostics market in the near term," said Andrews. "It was the disruptive Ion Torrent technology, however, that tipped the scale for me to come on board."
Ion Torrent semiconductor sequencers offer unprecedented speed, scalability and simplicity. In 2012, the company plans to submit the Ion Personal Genome Machine™ for FDA clearance. Life also recently unveiled the Ion Proton™ Sequencer, which will sequence an entire human genome in several hours on a bench top for $1,000, a development expected to significantly accelerate personalized medicine.
In October 2011, Life announced an agreement with GlaxoSmithKline to develop a companion diagnostic for a GSK candidate cancer therapy, and the company's 7500 Fast Dx Real-Time PCR Instrument is FDA-cleared for use with the U.S. Centers for Disease Control and Prevention (CDC) H1N1 assay.
"I have a long-term and deep commitment to the principles of personalized medicine," said Andrews, "as well as a personal dedication to utilizing emerging molecular knowledge to advance our ability to manage complex diseases like cancer. I look forward to the opportunity to help build Life Technologies into a leader in the diagnostics space."
Andrews received his B.S. in Biology and Chemistry from Wofford College. He began his career with Abbott Diagnostics and also served as vice president of marketing for Immucor Inc.
About Life Technologies
Life Technologies Corporation is a global biotechnology company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific and medical advancements that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance the fields of discovery and translational research, molecular medicine, stem cell-based therapies, food safety and animal health, and 21st century forensics. The company manufactures both molecular diagnostic and research use only products. Life Technologies' industry-leading brands are found in nearly every life sciences lab in the world and include innovative instrument systems under the Applied Biosystems and Ion Torrent names, as well as, the broadest range of reagents with its Invitrogen, GIBCO, Ambion, Molecular Probes and TaqMan® products. Life Technologies had sales of $3.6 billion in 2010, has a workforce of approximately 11,000 people, has a presence in approximately 160 countries, and possesses one of the largest intellectual property estates in the life sciences industry, with approximately 4,000 patents and exclusive licenses. For more information on how we are making a difference, please visit our website: http://www.lifetechnologies.com.
Life Technologies' Safe Harbor Statement
This press release includes forward-looking statements about Life Technologies' anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to industry trends and Life Technologies' plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and the like, and/or future tense or conditional constructions ("will," "may," "could," "should," etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by Life Technologies with the Securities and Exchange Commission. Life Technologies undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.
Source: Life Technologies
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