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Biocartis Names Dr. Nayan Gregory Parekh as Chief Executive Officer


12/1/2011 6:33:43 AM

LAUSANNE, Switzerland, November 30, 2011 /PRNewswire/ --

Current Ceo Rudi Pauwels Becomes Executive Chairman Focusing On Scientific And Technology Strategy


New Ceo Appointment Strengthens Commercial Focus As Biocartis Prepares For Launch Of Its First Product In 2013

Biocartis, a company developing and commercializing compact molecular diagnostic (MDx) systems designed to drive personalized medicine and improve the diagnosis of disease, today announced the appointment of Dr. Nayan Gregory Parekh as its new Chief Executive Officer.

Parekh brings to Biocartis a wealth of pharmaceutical and biotechnology industry experience and has been an Executive Director of the Company's Board since April 2011. Rudi Pauwels, co-founder of Biocartis and current CEO, will become Executive Chairman and will dedicate his time to the Company's scientific and technology strategy.

Biocartis is moving into a new strategic phase as it focuses on building commercial capabilities and expanding industry partnerships. Dr. Parekh has held senior management positions at Novartis and Deutsche Bank and has a broad network of relationships and experience across a number of healthcare fields and geographies. Most recently, he was at New Rhein Healthcare LLC, a healthcare investment firm where he was one of the founding partners. Before setting up New Rhein, Dr. Parekh spent six years as head of corporate development at Novartis AG, where he led the Novartis investments in Eye Care, Vaccines, Diagnostics, Generics, as well as certain emerging markets such as China, Saudi Arabia, Brazil and Russia. He was also a member of the Novartis Group Finance Committee. Prior to joining Novartis in 2004, he spent ten years in investment banking, primarily focusing on the pharmaceutical and biotechnology sectors. Greg holds a PhD from Northwestern University and received a B.A. in Economics and Political Science from the University of Rochester.

"Greg's broad industry and financial experience combined with his knowledge of the Company made him an ideal candidate to lead the next exciting stage of Biocartis' development," said Dr. Rudi Pauwels, Executive Chairman of Biocartis. "Under his leadership, I am confident Biocartis will successfully execute its strategy to make the healthcare benefits that molecular diagnostics provide an everyday reality for as many people as possible."

Dr. Pauwels added, "I would like to thank the former Chairman, Dinko Valerio, for his leadership of the board and service to the company." Dr. Valerio will continue as a non-executive board member.

Commenting on his new role, Dr. Parekh said: "Biocartis has the potential to become the global leader in

point of care molecular diagnostics and drive the adoption of personalized medicine. With its experienced senior leadership team, the recent $100 million fundraising, its unique consortium business model and the committed support of its key strategic collaborators, Biocartis is well placed to introduce several molecular diagnostics systems that will deliver high-quality data in a timely manner and improve healthcare outcomes."

About Biocartis (www.biocartis.com)

Biocartis aims to transform the global diagnostics market by making personalized medicine an everyday reality. The challenge Biocartis addresses is to enable the broadest possible access to new technologies that will allow individual diagnoses to be made quickly based on a systematic analysis of the wealth of rapidly emerging biomarkers rather than solely on physiological symptoms as they are today. Ending the 'one drug fits all' paradigm will empower physicians to make better diagnoses based on better information and help tackle efficacy failings and increasing healthcare costs.

Biocartis intends to become a fully integrated provider of novel, broadly applicable molecular diagnostics and immunodiagnostics solutions (instruments, analytical techniques, chemistries, sample preparation and other innovative tools) with high-value clinical assay menus. These solutions are designed to be compatible with deployment in a wide variety of health care settings, providing rapid, high-quality care close to the patient. Biocartis' vision is shared by its current collaborators which include bioMerieux and Janssen Pharmaceutica (J&J). Debiopharm Group, as lead investor in the last investment round, also supports that vision.

Biocartis is currently developing two innovative systems that share a common user interface and design philosophy:

  • Apollo, a system designed for the MDx market, comprising an instrument, communication console and single use, disposable cartridges. This system can detect and quantify multiple DNA- or RNA-based biomarkers in a wide variety of patient sample types with truly minimal user intervention.
  • A second system that has been built around disposable, microfluidic cartridges with digitally encoded micro carriers for the rapid and sensitive detection of a broad range and number of biomarkers. The first product from this technology will focus on protein-based biomarkers and will allow Biocartis to enter the immunoassay market.

Biocartis was founded in 2007 by Dr. Rudi Pauwels (Co-founder of Tibotec, Virco and Galapagos Genomics), Prof. Philippe Renaud (Prof. at EPFL), and Nader Donzel (Co-founder of Scitec laboratory Automation). The company has raised more than 100 million in equity funding.
Biocartis SA is based at the EPFL's Innovation Square in Lausanne, Switzerland; it has a fully owned Belgian subsidiary in Mechelen and a Dutch subsidiary at the High Tech Campus in Eindhoven.

Contacts

Greg Parekh, CEO
Tel: +32-15-632-656
pr@biocartis.com

Hilde Windels, CFO
Tel: +32-15-632-663
pr@biocartis.com

Citigate Dewe Rogerson
David Dible/Chris Gardner
Tel : +44-(0)20-7638-9571
david.dible@citigatedr.co.uk/chris.gardner@citigatedr.co.uk


SOURCE Biocartis


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