Healthcare Industry News: Novartis Pharma AG
News Release - October 1, 2012
XDx Appoints Peter Maag as President and CEOBRISBANE, Calif.--(Healthcare Sales & Marketing Network)--XDx, Inc., a molecular diagnostics company that discovers, develops and commercializes high value, non-invasive tests to monitor immune status in transplant recipients and autoimmune diseases, announced today that Peter Maag, Ph.D., has joined XDx as President and Chief Executive Officer, effective immediately. Dr. Maag has 20 years of global life science experience, leading the development of new diagnostic solutions with a global impact.
“XDx’s AlloMap test has the potential to change the world of transplantation by reducing over-reliance on invasive tests and greatly increasing patient convenience,” Dr. Maag stated. “I am very excited to work with the exceptional team at XDx to make that potential a reality in the near future.” In the past six months, the Company initiated the launch of AlloMap® Molecular Expression Testing in Europe and advanced its second lead program by entering into an agreement with LabCorp to develop and commercialize a diagnostic test to predict flares of systemic lupus erythematosus. More recently, XDx closed a $15 million senior credit facility, extending the Company’s operating runway, supporting existing programs and expanding its innovative R&D pipeline.
Michael D. Goldberg, Chairman of the XDx Board of Directors, commented, “Peter brings to XDx a unique combination of diagnostics and pharmaceutical experience in diverse areas of medicine. Based on his successful track record we believe Peter is uniquely qualified to lead XDx in the execution of its core strategy, including accelerating sales and geographic reach of the Company’s lead asset, AlloMap. Peter’s mandate also will be to advance and expand the Company’s product development pipeline and work with the management team to seek additional corporate partnerships.”
Prior to joining XDx, Peter was President, Novartis Diagnostics. In this role, Dr. Maag accelerated growth in the company’s blood screening business, which screens 80% of the US and 30% of the global blood supply. He also created the strategy for Novartis Diagnostics’ $150 million investment to develop novel diagnostic solutions in transplantation, infectious diseases and prenatal care. Previously, Dr. Maag served as Country President for Novartis Pharma AG in Germany, where he was responsible for all operational and commercial activities, launching 10 new products and significantly expanding market share. Additional senior roles at Novartis included: Country President in Korea; Head of the Infectious Disease Franchise in Switzerland, in which role he built a new franchise to expand the company’s antiviral and antibacterial presence, and Head of Strategy for the Pharma Division. Prior to joining Novartis, Dr. Maag worked at McKinsey & Company in New Jersey and Germany, focusing on pharmaceuticals and globalization strategies. Dr. Maag studied pharmaceutical sciences in Heidelberg and London and received his Ph.D. degree from the University of Berlin, Germany.
XDx, Inc., based in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of non-invasive tests for the monitoring of transplant rejection and autoimmune diseases. The company has developed AlloMap® Molecular Expression Testing, an FDA- cleared test, which provides transplant physicians with a tool to aid in the determination of the probability of acute cellular rejection for post-cardiac transplant patient management. AlloMap is marketed directly by XDx in the United States and has received marketing authorization in the European Union. Some of the AlloMap technology may be applicable to other conditions that involve transplant rejection and diseases that affect the immune system, and XDx is currently developing a lupus flare predictor test in collaboration with LabCorp. XDx’s non-invasive technology offers the potential to decrease healthcare costs and improve the quality of life for patients with a variety of life-threatening or life-altering immune-mediated diseases. For more information, please visit: www.xdx.com.
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