NEW HAVEN, Conn., Nov. 27 /PRNewswire/ -- HistoRx, Inc., announced today that its Board of Directors has appointed Rana K. Gupta permanent Chief Executive Officer. Mr. Gupta has served as interim CEO since August 2006. During that time, the company advanced its proprietary AQUA(R) tissue biomarker analysis technology platform, increased its revenue stream to fund product development, and completed a $6 million Series B equity financing round.
Mr. Gupta brings to HistoRx an accomplished management record, with more than 20 years of experience leading technology-driven businesses and particular expertise in financial growth and product development strategies. He was previously a Managing Director at Navigator Technology Ventures, which led HistoRx’ Series A round, and has been a director of HistoRx since the company’s inception in 2004. Mr. Gupta holds a B.A. in Mathematics from Earlham College, an M.S. in Operations Research from Stanford University, and an M.B.A. in Finance and International Business from New York University’s Stern School of Business.
“As a Series A investor and director, I had anticipated the promise of HistoRx and its powerful AQUA(R) biomarker analysis platform,” said Mr. Gupta. “As HistoRx interim CEO over the past 15 months, I have had the opportunity to guide the company’s transformation from a research-based company to a diagnostic product development company. With the progress we have made to date, the necessary financial and other resources at our disposal, and an outstanding team, HistoRx now has the ability to pursue its diagnostics strategy and to realize our promise of facilitating targeted drug development and guiding therapeutic decisionmaking to improve patient outcomes. I sincerely appreciate the responsibility our Board of Directors has entrusted in me and look forward to pursuing the opportunities that lie ahead for HistoRx.”
HistoRx also announced the election of Gregory Gardiner, PhD, as Chairman of the Board of Directors and the addition of Seth Feuerstein, MD, JD, to the board. Dr. Gardiner, who has been a member of the board since 2004, was formerly the Managing Director of Yale University’s Office of Cooperative Research and Group Director of R&D Operations for Pfizer’s Central Research, and is currently a director of a number of bioscience-related companies. Dr. Feuerstein is President of Carigent Therapeutics and Assistant Clinical Professor of Psychiatry at Yale University School of Medicine.
“The HistoRx board is delighted that Rana has accepted our offer to become permanent CEO at this critical time in the company’s history,” said Dr. Gardiner. “Through his vision and leadership over the past 15 months, HistoRx is well positioned to become an important player in the diagnostics business, driven by substantial growth in collaborations with pharmaceutical companies, improvement in the capabilities of the company’s AQUA(R) technology platform, and the recent closing of the company’s Series B funding round. I am also pleased to accept the position of Chairman of the Board and look forward to working closely with Rana, our new board member Seth Feuerstein, and all the other board members and HistoRx team who have contributed to the company’s progress to date.”
“Dr. Feuerstein’s strategic perspective and experience in building companies and creating value will be a tremendous resource for HistoRx, and we are extremely pleased to have him join our board,” said Mr. Gupta. “As HistoRx enters this next stage of development and growth, we couldn’t be more pleased that Dr. Gardiner has taken on the added responsibilities of chairman. His vast experience in guiding and building successful pharmaceutical and biotechnology companies will continue to be of great value to HistoRx.”
About HistoRx (www.historx.com)
HistoRx, Inc. is a leader in the emerging field of tissue-based diagnostic products for targeted patient treatment. The company’s products and services are based on proprietary AQUA(R) tissue biomarker analysis technology. AQUA(R) is the only platform capable of precisely measuring protein biomarker concentration with subcellular resolution in tissue sections, enabling fully objective, standardized, reproducible, and automated analysis to guide targeted drug development and therapeutic decisionmaking. HistoRx partners with pharmaceutical and biotechnology companies to generate precise and cost- effective answers about the safety and effectiveness of targeted therapeutics in development for cancer and other diseases. These partnerships provide the foundation for HistoRx to develop companion diagnostic tests that HistoRx will co-market with its partners’ targeted therapeutics. HistoRx also pursues internal programs to develop proprietary standard-of-care diagnostics that will improve treatment decisionmaking and patient outcomes in cancer care.
mary@m2friend.com
CONTACT: Mary Moynihan, M2Friend Biocommunications, +1-802-951-9600,
mary@m2friend.com, for HistoRx, Inc.
Web site: http://www.historx.com/
