Mallon announced his resignation from Ironwood earlier this month to take on a new leadership opportunity and “pursue multiple passions.”
Outgoing Ironwood CEO Mark Mallon. (Ironwood)
It won’t take long for Mark Mallon, outgoing chief executive officer of Ironwood Pharmaceuticals, to resurface after his departure from the Cambridge, Mass.-based company. In April, Mallon will assume the role of CEO of Florida-based NeoGenomics, a provider of oncology diagnostic testing and global contract research services.
Mallon announced his resignation from Ironwood earlier this month to take on a new leadership opportunity and “pursue multiple passions.” Mallon will remain with Ironwood through March 12. He will take over NeoGenomics on April 19. In addition to assuming the role of CEO, Mallon will also become a member of that company’s board of directors.
Prior to Ironwood, Mallon spent 24 years at AstraZeneca holding numerous executive roles, including executive vice president of global product and portfolio strategy leading global marketing, pricing and market access, medical affairs (including health economics and real world evidence) and corporate affairs. He also launched AstraZeneca’s emerging market strategy and led the expansion and growth of AstraZeneca’s business in China.
Mallon said he is honored to be selected as the next CEO of NeoGenomics. He intends to build on the successes of Douglas M. VanOort, who has helmed the company for the past 12 years and guided the company from $20 million in annual revenue to $500 million. The company’s market capitalization has also grown to $6 billion under the guidance of VanOort. The company headcount has also expanded from 114 in 2009 to more than 1,700 today during his tenure. Mallon said NeoGenomics is an exciting company that has significant opportunities to make a difference for countless numbers of cancer patients.
“I am personally excited to build on NeoGenomics’ strong competitive position and lead the company into the future. I look forward to working with Doug as executive chairman and learning from his experience as we continue to grow the company,” Mallon said in a statement.
After Mallon takes over the reins of the company, VanOort will transition to become executive chairman of the NeoGenomics Board of Directors. He praised Mallon as his successor, saying he has a “sharp intellect, an engaging personality, a drive for excellence, and an extensive track record of delivering on demanding growth and operating goals.” VanOort also said Mallon possesses a “unique combination of strategic thinking and empathy” that will allow him to balance high standards with NeoGenomics’ values-based organizational culture.
“It has been a privilege to lead NeoGenomics over the past 12 years. I am very proud of the talented team that we have built and the successful growth and impact on cancer patients’ lives that we have achieved. I am very excited to be succeeded by Mark. We are thrilled to have a leader with his experience and skill to build on our existing outstanding competitive position and take the company to the next level of performance,” VanOort said in a statement.
The announcement of Mallon’s appointment as CEO was accompanied by NeoGenomics’ fourth-quarter earnings report that showed the company increased consolidated revenue for the three month period by 18% to $126 million. For the full year, consolidated revenue for 2020 was $444 million, an increase of 9% over 2019. This increase was primarily driven by COVID-19 PCR testing revenue of approximately $28 million and growth of the company’s Pharma Services segment, NeoGenomics said in its report. The Pharma Services Division serves pharmaceutical clients in clinical trials and drug development.
