Nanogen WKN
911841Nanogen, Inc. announced the appointment of David Macdonald as Senior Vice President of Operations. Mr. Macdonald brings to Nanogen over 22 years of relevant diagnostic product experience, having served as President and COO of Nichols Institute Diagnostics, a division of Quest Diagnostics, and most recently as President and CEO of both Progeny Systems and Medical Electronic Systems. Under Mr. Macdonald''s leadership, both Progeny Systems and Medical Electronics Systems achieved profitability and positive cash flow in eighteen months. Reporting to Dr. Randy White, Chief Executive Officer of Nanogen, Mr. Macdonald will be responsible for leading the product development, manufacturing and operations teams.
"We are excited to bring on David as a key member of the Nanogen management team and look forward to his executive leadership and guidance as we expand out product offerings," said Dr. Randy White, Chief Executive Officer of Nanogen. "David''s expertise in developing and marketing diagnostic products will be extremely valuable as we prepare to launch our cystic fibrosis Analyte Specific Reagent (ASR) as well as other products to further expand our menu and increase our potential consumable revenue capture. We believe this will put us one step closer to becoming a leader in the emerging and fast growing molecular diagnostics market."
Prior to his positions at Progeny Systems and Medical Electronics Systems, Mr. Macdonald served as President and Chief Operating Officer of Nichols Institute Diagnostics, where he assisted in the transition of the company from manually performed diagnostic tests to fully automated diagnostic systems. From 1988 to 1992, he was Director of Operations for Behring Diagnostics, where he helped develop and launch the Opus line of diagnostic systems for use in hospital and reference laboratories. Mr. Macdonald holds a B.S. degree in Business Administration from Northwestern University and an MBA from Babson College.
Nanogen''s goal is to become the leading provider of electronic microarray technology with the required accuracy, simplicity and flexibility necessary to bridge the gap between the research and clinical setting in genomics-based diagnostics. The Company is seeking to establish the NanoChip(R) System as the standard platform for the detection of genetic mutations and to develop applications for future clinical use. To date, the Company has developed one ASR for the detection of Factor V Leiden, and internally validated five research protocols, four associated with cardiovascular disease and one associated with hereditary hemochromatosis, the most common form of iron overload disease. Nanogen markets its NanoChip(R) Molecular Biology Workstation to scientists and genomics laboratories. The NanoChip(R) System is intended for laboratory use only. For additional information please visit Nanogen''s web site at www.nanogen.com/ .
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether the Company''s NanoChip(R) System can be successfully further commercialized, whether other products under development can be successfully developed and commercialized, whether results reported by our customers or partners can be identically replicated, whether ASRs currently sold by the Company will become FDA-approved molecular diagnostic test kits, whether Nanogen will be successful in developing additional ASRs and protocols utilizing the NanoChip(R) System, and other risks and uncertainties discussed under the caption "Factors That May Affect Results" and elsewhere in the Company''s Form 10-K for the year ended December 31, 2001 filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.
Nanogen, Inc.
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