SAN DIEGO, Jan. 10, 2011 /PRNewswire/ -- Sequenom (Nasdaq: SQNM) today announced the appointment of William (Bill) Welch to the position of senior vice president of diagnostics.
(Logo: http://photos.prnewswire.com/prnh/20040415/SQNMLOGO)
Mr. Welch will report to Harry F. Hixson, Jr., Ph.D. chairman and CEO of Sequenom, and he will be responsible for all commercial aspects of the company’s diagnostics business.
“Bill has an outstanding track record of success in medical device and biopharmaceuticals sales and marketing leadership,” said Harry F. Hixson, Jr., Ph.D., chairman and chief executive officer. “His proven ability to build and lead cross-functional teams, develop and launch new products to drive growth aligns perfectly with our approach to addressing the OB/GYN and ocular diagnostics markets.”
Mr. Welch has over 18 year’s leadership experience in medical devices and biotechnology companies. Most recently Mr. Welch was senior vice president and chief commercial officer at Monogram Biosciences, where he led sales, marketing, commercial operations, pharma alliances, medical affairs and international for its oncology and virology businesses. Prior to Monogram, Mr. Welch was vice president of sales & marketing at La Jolla Pharmaceuticals and vice president of global marketing at Dade Behring MicroScan. Mr. Welch entered the healthcare industry with Abbott Laboratories where he held positions of increasing responsibility including general management.
In connection with his employment with us, Mr. Welch received a nonqualified stock option grant for 150,000 shares of common stock under our New Hire Equity Incentive Plan. The option has an exercise price of $7.70, which was equal to the closing price of Sequenom’s common stock on January 7, 2011, the date that his employment started. This option will vest and become exercisable by Mr. Welch over four years, with 25% vesting on January 7, 2012 and ratably monthly thereafter, subject to his continued service through the applicable vesting dates. The option will expire after ten years. This option is granted as an inducement grant pursuant to Section 5635(c)(4) of the Nasdaq Marketplace Rules.
About Sequenom
Sequenom, Inc. (NASDAQ: SQNM) is a life sciences company committed to improving healthcare through revolutionary genetic analysis solutions. Sequenom develops innovative technology, products and diagnostic tests that target and serve discovery and clinical research, and molecular diagnostics markets. The company was founded in 1994 and is headquartered in San Diego, California. Sequenom maintains a Web site at http://www.sequenom.com to which Sequenom regularly posts copies of its press releases as well as additional information about Sequenom. Interested persons can subscribe on the Sequenom Web site to email alerts or RSS feeds that are sent automatically when Sequenom issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the Web site.
SEQUENOM® is a trademark of Sequenom, Inc. All other trademarks and service marks are the property of their respective owners.
Forward-Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding the Company’s approach to addressing OB/GYN and ocular diagnostics markets, and its commitment to improving healthcare through revolutionary genetic analysis solutions, are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with the Company’s ability to develop and commercialize new technologies and products, particularly new technologies such as genetic analysis platforms, noninvasive prenatal diagnostics and laboratory developed tests, reliance upon the collaborative efforts of other parties, the Company’s ability to manage its existing cash resources or raise additional cash resources, competition, intellectual property protection and intellectual property rights of others, government regulation particularly with respect to diagnostic products and laboratory developed tests, obtaining or maintaining regulatory approvals, ongoing litigation and investigations and other risks detailed from time to time in the Company’s most recent Annual Report on Form 10-K and other documents subsequently filed with or furnished to the Securities and Exchange Commission. These forward-looking statements are based on current information that may change and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
SOURCE Sequenom, Inc.
