Healthcare Industry News: Sorrento Therapeutics
News Release - February 10, 2012
Stephen Zaniboni Joins Trovagene, Inc. as Chief Financial OfficerSAN DIEGO, Feb. 10, 2012 -- (Healthcare Sales & Marketing Network) -- Trovagene, Inc. (Pink Sheets: TROV.PK), a developer of transrenal molecular diagnostics, has announced that Stephen Zaniboni has been named Chief Financial Officer.
Mr. Zaniboni's experience includes raising more than $500 million through venture financing and IPO proceeds. Mr. Zaniboni previously served as Chief Financial Officer of healthcare software solutions company Awarepoint and XIFIN Inc., a provider of revenue cycle management for diagnostic service providers. Mr. Zaniboni has also served as Chief Financial Officer of AviaraDx, Inc., a leading molecular diagnostic innovator in oncology. In 2008, Mr. Zaniboni played an important role in the sale of AviaraDx to bioMerieux, which continues to operate the company under the name bioTheranostics. Before AviaraDx, Mr. Zaniboni served as CFO of Arcturus Bioscience Inc., where he played an important role in the sale of Arcturus' life science business assets to Molecular Devices Inc. Prior to Arcturus, from 1997 to 2005; Mr. Zaniboni served as Chief Financial Officer of Sequenom where he lead the efforts behind a very successful IPO. Mr. Zaniboni is co-founder of Sorrento Therapeutics, Inc. and served as a member of its board of directors until 2011. He was a practicing CPA with Arthur Andersen and holds a B.S. in accounting from Boston University and an M.B.A. from Boston College.
"I am pleased that Steve joins our team to lead the transition of Trovagene from a research stage organization to a commercial enterprise," states Antonius Schuh, Ph.D., Trovagene's Chief Executive Officer. "This transition requires an experienced Chief Financial Officer with a successful track record of raising capital, building organizations and creating value for shareholders. I look forward to working with him again."
About Trovagene, Inc.
Headquartered in San Diego, California, Trovagene is developing its patented technology for the detection of transrenal DNA and RNA, short nucleic acid fragments, originating from normal and diseased cell death that cross the kidney barrier and can be detected in urine.
Trovagene has a dominant patent position as it relates to transrenal molecular testing. It has U.S. and European patent applications and issued patents that cover testing for HPV and other infectious diseases, cancer, transplantation, prenatal and genetic testing. In addition, it owns worldwide rights to nucleophosmin-1 (NPM1), an informative biomarker for acute myeloid leukemia (AML) and mutations in the sf3b1 gene, which have been shown to be associated with chemotherapy response in CLL (chronic lymphocytic leukemia) patients.
Trovagene has filed a Form 10 with the SEC. More complete current information about Trovagene is contained in the filing.
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated" and "intend," among others. These forward-looking statements are based on Trovagene's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payer reimbursement; limited sales and marketing efforts and dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any medical diagnostic tests under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that future clinical trials discussed in this press release will be completed or successful or that any product will receive regulatory approval for any indication or prove to be commercially successful. Trovagene does not undertake an obligation to update or revise any forward-looking statement.
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