Business Services Industry
Xenomics Strengthens Product Development Team with Appointment of Veteran Molecular Biologist Dr. Mark O'Hara as Director of Product Development
Business Wire, Jan 24, 2006
NEW YORK -- Xenomics, Inc. (OTCBB:XNOM) (FWB:XE7), a developer of next-generation medical DNA technologies, today announced that it has appointed Dr. Mark O'Hara as the Company's new Director of Product Development. Dr. O'Hara, an accomplished scientist with a Ph.D. in biochemistry, will report to Dr. David Robbins, who recently joined Xenomics as Vice President of Product Development.
Among his scientific accomplishments, Dr. O'Hara has recently conceived, designed and managed the development of all aspects of a novel diagnostic discovery program based on comprehensive analysis of RNA from tumor cells and endothelial cells circulating in blood. This groundbreaking work resulted in the filing of 21 patent applications and the publication of 3 recent manuscripts.
The appointments of Dr. O'Hara and Dr. Robbins are part of a larger strategic initiative designed to reinforce Xenomics' overall product development operations and high-growth revenue potential as the Company moves toward the commercialization stage of its breakthrough medical diagnostic testing technology.
"Our plan is to dramatically expand the product development efforts at Xenomics with the anticipated additional hiring of 10 new scientists over the coming six-month period," said Dr. Robbins. "Dr. O'Hara in particular will be a tremendous asset in this effort. He brings more than two decades of innovation and development in molecular marker analysis and other crucial areas, and will provide vital contributions in meeting Xenomics' product expansion goals."
Among accomplishments relevant to his mission at Xenomics, Dr. O'Hara led development and commercialization of the CellSearch Profile kit, a medical product line currently sold worldwide by Veridex, LLC, a Johnson and Johnson company. In addition, he has 12 years of experience as a supervisor in the biomarker discovery validation and development industry.
Xenomics is a leading innovator of breakthrough DNA technology that could foster fundamental improvement in the field of molecular diagnostics, currently a $1.5 billion segment of the healthcare industry. The Company is now conducting human clinical studies at two major medical institutions in the United States, and plans to submit an initial Down syndrome detection application for Food and Drug Administration approval in mid-2007. Based on little-known fragments of DNA called Transrenal DNA (Tr-DNA), which were initially discovered and identified by Xenomics scientists, this proprietary platform technology is also being developed into a suite of additional medical tests for the noninvasive monitoring and/or detection of HIV, tuberculosis and malaria, among other major diseases and conditions.
About Xenomics, Inc.
Xenomics is a molecular diagnostic company that focuses on the development of DNA-based tests using Transrenal DNA (Tr-DNA). Xenomics' patented technology uses safe and simple urine collection and can be applied to a broad range of applications, including prenatal testing, tumor detection and monitoring, tissue transplantation, infectious disease detection, genetic testing for forensic identity determination, drug development, and research to counter bioterrorism. Scientists from Xenomics were the first to report that fragments of DNA from normal cell death cross the kidney barrier and can be detected in urine. The Company believes that its technology will open significant new markets in the molecular diagnostics field. Xenomics has three issued U.S. patents covering different applications of the technology for molecular diagnostics and genetic testing and a corresponding allowed European patent for the Company's prenatal testing applications. The Company has organized a joint venture to conduct research on infectious disease detection with the National Institute for Infectious Diseases (Istituto Nazionale per la Malattie Infettive "Lazarus Spallanzani") in Rome, in the form of a new R&D company called SpaXen Italia, S.R.L. For more information, please visit http://xenomics.com. For more investor-specific information, including daily and historical Company stock quote data and recent news releases, please visit http://www.trilogy-capital.com/tcp/xenomics. To read or download the Company's Investor Fact Sheet visit http://www.trilogy-capital.com/tcp/xenomics/factsheet.html. To view an online video about Xenomics technology and products, visit http://www.trilogy-capital.com/tcp/xenomics/video.html. A TV news report about the Company's next-generation prenatal tests can be viewed at http://www.trilogy-capital.com/tcp/xenomics/ny1_video.html. Xenomics is also listed on the Frankfurt Stock Exchange under the symbol XE7.
Forward-Looking Statements
Certain statements made in this press release are forward looking. Such statements are indicated by words such as "expect," "might," "should," "anticipate" and similar words indicating uncertainty in facts and figures. Although Xenomics believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct. As discussed in the periodic reports of Xenomics, as filed with the Securities and Exchange Commission, actual results could differ materially from those projected in the forward-looking statements as a result of the following factors, among others: uncertainties associated with product development, the risk that Xenomics will not obtain approval to market its products, the risk that Xenomics' technology will not gain market acceptance, the risks associated with dependence upon key personnel, and the need for additional financing.
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