Corporate - Media & Press - Press Release
Arrayit Corporation Taps Former IVAX Diagnostics Executive to Build Strategic Partnerships
OvaDx® Commercialization Strategy Top Priority
Press Release Source: Arrayit Corporation On Thursday July 29, 2010, 8:00 am EDT
SUNNYVALE, Calif.--(BUSINESS WIRE)--Arrayit Corporation (OTCBB: ARYC), a leader in life sciences and healthcare technology, announces today that the company has hired an industry expert to identify strategic partnerships for the commercialization of OvaDx®, the company’s pre-symptomatic test for ovarian cancer.
Arrayit Corporation and its subsidiary Arrayit Diagnostics, Inc. have hired Duane M. Steele to forge strategic alliances with leading molecular diagnostics and pharmaceutical companies. Mr. Steele brings more than 30 years of industry experience to the Arrayit team. Chairman and CEO Rene Schena states, “Mr. Steele’s breadth and depth of diagnostics experience perfectly complements the pioneering science embodied in the OvaDx® product.”
OvaDx® uses a panel of approximately 100 proteomic biomarkers to detect ovarian cancer in pre-symptomatic and post-symptomatic patients by leveraging Arrayit’s patented microarray platform to deliver definitive serum-based test results. The Arrayit platform is well-suited for many types of molecular diagnostic applications in oncology, neurodegenerative disease and companion diagnostics.
About Duane M. Steele
Mr. Steele previously served as Vice President of Business Development of IVAX Diagnostics, Inc. (AMEX:IVD - News) and as COO of Diamedix Corporation, its wholly owned in vitro diagnostics subsidiary based in Miami, Florida. Until 2008, IVAX Diagnostics was majority controlled by Teva Pharmaceuticals (NASDAQ:TEVA - News), a $49 billion market cap pharmaceutical company headquartered in Israel. His experience includes extensive involvement in domestic and international marketing, research and development, and manufacturing. At Kallestad Diagnostics, Inc., Mr. Steele was responsible for all international operations, where he established subsidiary operations in Canada, Germany, Switzerland, the UK and Australia.
Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure. Arrayit now offers over 650 products to a customer base of more than 10,000 clinics and research facilities, and more than 5,000 laboratories worldwide, including most every major university, pharmaceutical and biotech company, major agricultural and chemical company, government agency, national research foundation and many private sector enterprises. Please visit www.arrayit.com for more information.
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We have identified forward-looking statements by using words such as "expect," "believe," and "should." Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended December 31, 2010 and Form 10-Q for the fiscal first quarter ended March 31, 2010.
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