YONKERS, N.Y., Oct. 8 /PRNewswire/ -- Aureon Biosciences Corporation announced today that Vijay Aggarwal, Ph.D. has been appointed to the positions of CEO and President. Dr. Aggarwal has held senior executive positions in the diagnostic lab industry with both SmithKline Beecham and Quest Diagnostics, as well as in the pharmaceutical contract research services sector. The Company also announced that Kevin Johnson, who joined the Company's Board of Directors in October 2003, was recently named to the post of Chairman. Kevin was previously CEO for Dianon Systems, a leading independent anatomic pathology laboratory that was acquired by a major independent clinical laboratory for approximately $600 million in 2003.
Aureon is a CLIA-certified diagnostic laboratory that develops and provides predictive testing for personalized cancer clinical care as well as for the pharmaceutical R&D industry. Predictive testing simultaneously takes into account the clinical, micro-anatomic, and molecular aspects of disease, enabling the development of advanced diagnostics and therapeutics. Aureon's first clinical test will be in the area of prostate cancer, the most commonly diagnosed non-skin cancer in the United States. The first predictive test using this proprietary technology will be launched in 2005. Aureon is also working on initiatives in the areas of breast, lung, and colon cancers.
Kevin Johnson commented, "I've known Vijay for many years. Vijay has a superb track record of operating and growing diagnostic laboratories. As Aureon prepares to launch its first predictive test, we believe Vijay has the deep experience in this industry necessary to position Aureon as the future leader in predictive testing for cancer care." Added co-founding investor, Philippe Chambon, M.D., Ph.D., General Partner, Sprout Group, "We are pleased to have attracted both Kevin and Vijay to Aureon. We believe their combined proven skills in the lab industry will translate into great commercial growth and success for Aureon by leveraging the significant assets already created by the Company."
Dr. Aggarwal said, "I was drawn to Aureon by the opportunity to have a meaningful role in helping shape the future of personalized predictive testing, which I believe is the leading edge of growth and profit in the diagnostic industry. Aureon has created an important new set of pathology technologies and, with them, developed groundbreaking new predictive clinical tests with the potential to increase the efficiency and efficacy of medical care. As well, Aureon has established an impressive set of relationships with the pharmaceutical industry. These capabilities provide a solid platform for the future of the Company."
Prior to joining Aureon, Dr. Aggarwal was President of AAI Development Services, a company that provides contract research services to the biotechnology and pharmaceutical industry. Previous appointments have been as President, Quest Diagnostics Ventures and Executive Vice President of Laboratories for SmithKline Beecham Clinical Laboratories.
Jon Edelson, M.D., founding CEO & President of Aureon, will serve as a member of the Board of Directors and will work closely with the Company as a consultant. Chairman Kevin Johnson commented, "We thank Jon for the excellent work he has done in leading and building the Company over these past 3 years. Aureon is now in a great position. We look forward to Jon's continued association with the Company."
Aureon Biosciences Corporation's mission is to become the leader in predictive testing to better define disease classification, risk assessment, and outcomes treatment. Aureon has developed a "systems pathology" technology platform that combines proprietary molecular, imaging, and information technology to analyze tissue and bodily fluids. This platform provides a fully integrated view of disease that combines clinical, micro-anatomic, and molecular profiles of disease. Aureon is using its next-generation systems pathology approach to develop predictive diagnostics that will predict an individual patient's clinical course of disease as well as response to treatment. In addition, Aureon provides clinical trials tissue analysis testing services to pharmaceutical companies to assist them in developing cancer treatments and, in particular, understand and predict individual response to treatment. Aureon was co-founded by leading physician-scientists at Memorial Sloan-Kettering Cancer Center, Yale Cancer Center, and Albert Einstein College of Medicine, as well as investors from Sprout Group and Atlas Venture.
Aureon Biosciences Corporation