San Diego, CA and Lexington, MA – July 16, 2008 – Predictive Biosciences, an emerging molecular diagnostics company developing non-invasive diagnostic products for informed cancer management™, today announced the appointment of two senior executives: Ellen Sheets, M.D., to the newly created position of chief medical officer and Vikram Lamba to the position of chief financial officer. Dr. Sheets most recently served as chief medical officer and senior vice president at Hologic Inc, and previously served as general manager of the breast health unit as well as vice president of clinical affairs at the company. Mr. Lamba most recently served as vice president of corporate development at Advanced Medical Optics, and was previously chief financial officer of GeneOhm Sciences.
“We are very pleased to welcome Ellen and Vikram to the Predictive Biosciences executive team,” stated Peter Klemm, Ph.D., president and chief executive officer. “These two senior executive appointments reflect the growth and momentum of Predictive Biosciences’ novel urine cancer biomarker platform. In particular, Ellen’s significant clinical, oncology and women’s health experience will be an important asset as we prepare to launch a multi-center clinical trial in bladder cancer recurrence patients next year and explore applying our technology in other cancers, such as breast and ovarian cancer. With validation studies underway at leading academic centers, we are well-positioned to continue advancing our lead molecular diagnostic product - an innovative, non-invasive urinary biomarker test for bladder cancer.”
Dr. Sheets joins Predictive Biosciences with deep diagnostic, oncology and clinical experience. During her time at women’s health diagnostics company Hologic and predecessor company Cytyc, Dr. Sheets was responsible for all clinical research activities, restructuring the clinical department to support new product initiatives, and directing product development and company-wide advocacy and product reimbursement. From 1997 to 2002, Dr. Sheets served as an associate professor for Harvard Medical School and associate director for the Division of Gynecologic Oncology at Brigham and Women’s Hospital, where she built a successful gynecologic oncology practice and developed a cervical cancer research program that resulted in projects funded by the National Institute of Health. Dr. Sheets earned her MBA from the Stern School of New York University, and her B.S. and M.D. degrees from the University of Michigan. Dr. Sheets is the author of more than 65 peer reviewed manuscripts and is a member of the American College of Obstetricians and Gynecologists (ACOG), the Society of Gynecologic Oncologists, and the American Society of Clinical Oncology and is boarded both in Obstetrics and Gynecology as well as Gynecologic Oncology. She is a reviewer for multiple journals and has served as a Board Examiner for the American Board of Obstetrics and Gynecology.
Dr. Sheets commented: “I look forward to joining this dynamic and experienced team. Predictive Biosciences has what I believe to be one of the most compelling diagnostic platforms for cancer patient management, and I am truly inspired by the opportunity to bring a technology to the urology and oncology communities that may provide a safe, effective and non-invasive way to rule out cancer in patients at risk for recurrence.”
“In addition to the added clinical depth Ellen brings to our team, Vikram’s vast financial, business development and M&A experience will be critical as we continue to grow and prepare to expand our capabilities into the commercial arena. I also want to thank Bob Crane – who has served as our interim CFO since our inception – for his commitment to the success of Predictive Biosciences,” added Dr. Klemm. “I am gratified by the caliber of talent we are attracting to Predictive Biosciences and look forward to leveraging the expertise and skills these individuals bring as we continue to build our company, develop our pipeline and maximize the significant opportunity we have to make a difference in intervention diagnostics for the precise clinical management of cancer.”
Mr. Lamba brings to Predictive Biosciences 20 years of experience in the healthcare and energy industries. Prior to joining Predictive Biosciences, Mr. Lamba was the vice president of corporate development at Advanced Medical Optics, where he was responsible for many significant merger and acquisition deals and strategic alliances, including the company’s acquisition of Intralase Corp. Previously, Mr. Lamba served as chief financial officer for GeneOhm Sciences, a molecular diagnostics company, where he was instrumental the company’s successful acquisition by Becton Dickinson in 2006. From 1996 to 2004, he held various senior management positions in the United States, Canada and Europe for the healthcare division for Bayer AG. Mr. Lamba received his MBA from The Wharton School of the University of Pennsylvania and Asian Institute of Management.
“I am very pleased to be working with Peter and the team to help Predictive Biosciences realize its vision of becoming a leader in the field of cancer management,” stated Mr. Lamba. “This is an organization with a tremendous amount of experience, intellectual property and industry know-how, and I am excited by the opportunity to bring this novel technology to patients and physicians.”
About Predictive Biosciences
Leveraging its portfolio of patented biomarkers and clinical algorithms, Predictive Biosciences is pioneering intervention diagnostic assays for informed cancer management™. Predictive Biosciences’ tests will enable physicians to reliably determine the presence or absence of cancer. This information, incorporated into current standard clinical practice, should lead to more effective utilization of existing diagnostic tools and ultimately better outcomes for patients. Predictive Biosciences’ first assays are designed to detect urinary biomarkers fundamentally associated with the physiological changes resulting from cancer development and progression. The initial focus for these tests will be the growing cancer survivor population and the large number of individuals undergoing clinical workups for cancer. Predictive Biosciences was launched in 2006 and is privately funded by Highland Capital Partners and Flybridge Capital Partners. For more information and partnership inquiries, visit Predictive Biosciences’ website at www.predictivebiosci.com.