PORTON DOWN, England, February 19 /PRNewswire/ -- Enigma Diagnostics, the life sciences company developing rapid molecular diagnostics systems, announces today the appointment of Mr Biresh Roy as Chief Financial Officer (CFO).
Mr Roy, 44, will join the Board as an Executive Director. He is a strategically-oriented CFO with a strong track record in fundraising and M&A transactions for early and late-stage biotechnology companies and venture capital investors.
Over the past three years, he has played a key role in four European and transatlantic M&A and fundraising deals with aggregate funding exceeding $100m, including the merger of Xytis Pharmaceuticals Ltd with Remergent, Inc. to create Xytis, Inc. raising $24.5m (December 2005); the spin out of Nabriva from Sandoz raising EUR40m (January 2006); the acquisition of Morphochem by Biovertis, and EUR10m fundraising (December 2005); and the merger of Graffinity Pharmaceuticals and MyoContract to create Santhera Pharmaceuticals, and EUR20m fundraising (September 2004).
Mr Roy qualified as a Chartered Accountant in 1988 from PWC and is a graduate of the London School of Economics.
John McKinley, Executive Chairman of Enigma Diagnostics, said: “We are very pleased to have attracted Biresh to Enigma. His track record speaks for itself in terms of quality, with an impressive combination of transaction and financial management experience. He will be a valuable member of the Enigma team as we pursue our ambitious corporate growth plans during 2007 and beyond.”
Biresh Roy added: “Enigma Diagnostics has a powerful and exciting technology platform for rapid diagnostics and an enviable intellectual property position that allows it to develop these technologies for numerous high value markets. The increasing awareness of the potential of rapid diagnostics in industry presents many interesting opportunities for Enigma to create significant value and I am very pleased to be joining the team at this time as it accelerates its corporate development plans.”
Contacts Enigma Diagnostics +44(0)1980-590131 Deborah Cordingley, Corporate Communications deborah.cordingley@enigmadiagnostics.com Citigate Dewe Rogerson +44(0)207-638-9571 Mark Swallow / Valerie Auffray / David Dible mark.swallow@citigatedr.co.uk Notes to Editors: About Enigma Diagnostics
Enigma Diagnostics Limited is a private UK based company developing the next generation of rapid diagnostic instrument platforms for the detection and identification of infectious organisms, such as bacteria and viruses, in clinical, environmental and biological samples.
Enigma’s innovative and proprietary technology combines the speed and sensitivity of real-time PCR (polymerase chain reaction) with the simplicity needed for field-based and point-of-care tests. The Company is targeting a number of multi-billion pound markets, core among which are the clinical, defence and homeland security, and veterinary markets. Enigma’s commercialisation strategy is to maximise revenues from a continuous flow of market leading rapid diagnostic point-of-care and in-field instrument and assay platforms, derived from its broad Intellectual Property portfolio of issued and filed patents. Enigma will build an in-house sales and marketing capability to direct distribution of its bespoke products and partner with market leaders where global penetration of markets is required.
Enigma has an exclusive licence from the Defence Science Technology Laboratory to a portfolio of patents which represent over 15 years of UK Ministry of Defence funded research. Enigma’s own R&D activities have added additional patents and design rights based upon its proprietary technologies to generate a portfolio of over 35-plus worldwide patents and patent applications dedicated to real-time PCR and wider rapid technologies. All of these patents are granted in a range of core territories such as US, EU and Japan with more extensive filing and grants across a number of other key territories.
Enigma Diagnostics
CONTACT: Contacts: Enigma Diagnostics, +44(0)1980-590131, DeborahCordingley, Corporate Communications,deborah.cordingley@enigmadiagnostics.com; Citigate Dewe Rogerson,+44(0)207-638-9571, Mark Swallow / Valerie Auffray / David Dible,mark.swallow@citigatedr.co.uk
