NEWTON, Mass., Oct. 21 /PRNewswire-FirstCall/ -- Clinical Data, Inc. today announced the appointment of Drew Fromkin to the newly created position of Executive Vice President and Chief Marketing Officer. Reporting to Israel M. Stein, MD, President and Chief Executive Officer, Mr. Fromkin will be responsible for strategic commercialization initiatives including business development, reimbursement and medical economics, as well as new market strategies. This appointment highlights Clinical Data’s focus on expanding its market opportunities, particularly as the company builds upon its pharmacogenomics platform.
Mr. Fromkin, 39, has more than 17 years of senior leadership experience in the health care industry in the areas of corporate development, strategic planning, and sales and marketing management. He was most recently president and CEO of DoctorQuality, Inc., a leading provider of patient safety products and information services that was acquired by Quantros.Inc. Previously, Mr. Fromkin held several senior management roles at emerging healthcare companies, including executive appointments as President and Chief Executive Officer of Endo Surgical Devices, Inc., where his achievements include developing a line of innovative surgical devices, securing funding for the company, and guiding that company to its first FDA approval. Mr. Fromkin also was Vice President, Business Development and before that, Vice President, Sales for Merck-Medco Managed Care, LLC, a wholly owned subsidiary of Merck & Co, Inc. In all of these roles, Mr. Fromkin successfully developed and negotiated complex transactions including major account sales, strategic alliances, joint ventures and acquisitions. Mr. Fromkin began his career in healthcare at Health Information Technologies.
“We are pleased to add someone of Drew’s caliber to the CLDA team, particularly at this juncture in the Company’s history as we expand our diagnostic business into major new markets in the healthcare industry,” said Dr. Stein. “Drew’s extensive management experience in the healthcare services industry, particularly within the managed care environment, will provide us with valuable insights and experience, helping us to maintain a leading position as we bring new and more complex products and services to an evolving healthcare marketplace.”
About Clinical Data, Inc.
Clinical Data, Inc. is a worldwide leader in developing and commercializing pharmacogenomics and clinical diagnostics to improve patient care. The Company’s genomic services are marketed to the pharmaceutical, biotech, diagnostic, academic and agricultural marketplaces. The Company is utilizing pharmacogenomics to develop molecular diagnostics and more efficacious therapeutics by finding genetic markers to guide drug development and utilization. Its diagnostic and instrumentation business has a market focus on the physician office, hospital and small to medium sized laboratory segments.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains certain forward-looking information that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Forward- looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: those discussed and identified in public filings with the U.S. Securities and Exchange Commission made by CLDA; significant acquisitions or divestitures by major competitors; our ability to consummate our announced acquisition of Icoria, Inc., and to achieve expected synergies and operating efficiencies in all of our acquisitions, and to successfully integrate our operations. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. CLDA does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in CLDA’s various SEC reports, including but not limited to its Annual Report on Form 10-K for the fiscal year ended March 31, 2005, and 2004 and 2005 quarterly reports on Form 10-QSB and 10-Q.
Clinical Data, Inc.
CONTACT: Mark D. Shooman, Sr. Vice President & Chief Financial Officer ofClinical Data, Inc., +1-617-527-9933 Ext. 41
Web site: http://www.clda.com/
