ANN ARBOR, Mich., March 30 /PRNewswire/ -- HandyLab, Inc., a developer of novel clinical diagnostic testing products, today announced that Jeffrey S. Williams was named president and chief executive officer, effective March 22, 2004. Williams will also be appointed to the company's board of directors.
"We are pleased to be able to attract a CEO with Jeff's background and record of success to lead HandyLab from a development stage company to a successful commercial enterprise," said Rick Snyder, CEO of Ardesta and chairman of the HandyLab board of directors. He continued, "We are very excited to have Jeff on board. He has demonstrated the ability to build businesses, raise capital, and manage young companies effectively. Combined with his global clinical diagnostic experience at the senior executive level, we believe Jeff is the ideal CEO for HandyLab."
Williams comes to the position with several years of experience in the clinical diagnostics and healthcare industries. Most recently he was president and chief executive officer of Genomic Solutions Inc., an Ann Arbor- based life science instrumentation company he co-founded in 1997.
Prior to Genomic Solutions, Williams was chief operating officer of International Remote Imaging Systems (IRIS), a publicly-traded, California- based company specializing in digital imaging for the clinical diagnostic and research markets.
He spent approximately five years at Boehringer Mannheim (now part of Hoffman LaRoche), a $4 billion healthcare company with interests in clinical diagnostics, orthopedics, therapeutics and research chemicals, as vice president and global business manager for a clinical diagnostics business. Prior to Boehringer, Mr. Williams was employed in the Organon Pharmaceutical division of Akzo Nobel.
"Over the last year, I have been approached with several interesting business opportunities. HandyLab is by far the most exciting," said Williams. "I am convinced that HandyLab has the opportunity to revolutionize significant segments of the clinical diagnostic market. The HandyLab technology will reduce the time, cost and complexity of testing for many infectious diseases and other diagnostics while simultaneously improving the predictive value of the results. The company has made tremendous progress in developing the technology over the last four years, and I believe we will be in a position to launch our first FDA cleared product next year, when all scientific and regulatory requirements for its submission have been met."
The lead investors in HandyLab are EDF Ventures and Ardesta, LLC, both of Ann Arbor, MI. According to Jim Adox, partner at EDF, "Since exclusively licensing the technology from the University of Michigan and founding HandyLab in 2000 with the technologies' inventors, Kaylan Handique and Sundaresh Brahmasandra, EDF has strongly believed HandyLab's microfluidic and DNA technologies will positively impact healthcare in the U.S. and abroad."
Both EDF and Ardesta have committed to leading the company's next round of financing. In addition to the current investors, the company will also seek a small number of additional investors to complete the financing later this spring.
HandyLab is dedicated to the development and manufacture of novel clinical diagnostic testing products. HandyLab's proprietary products will reduce the time, cost and complexity of performing infectious disease and other testing while simultaneously improving the quality of results. Additional information is available on the company's website: http://www.handylab.com/ .