SAN DIEGO, March 18, 2015 /PRNewswire/ -- Trovagene,
Inc., (NASDAQ: TROV) a developer of cell-free molecular
diagnostics, announced today that Matthew
L. Posard has joined the Company as executive vice president
& chief commercial officer. Mr. Posard has more than 20 years
of experience identifying, directing and successfully
commercializing innovative technologies in the molecular diagnostic
and life science fields. Most recently, he led the new and emerging
market opportunities business at Illumina, Inc. (NASDAQ: ILMN).
"Cancer detection and monitoring remains a significantly
underserved clinical need within the healthcare delivery system,
and the ability to use gene sequencing to manage cancer at its root
cause is among the next great frontiers in medical care," said
Posard. "Trovagene's Precision Cancer MonitoringSM
platform has the ability to transform care by improving patient
outcomes and enabling more efficient use of resources to treat
cancer. Study results backing the Company's cancer monitoring
platform are compelling thus far, and I am looking forward to
bringing the clinical utility of our novel assays to the medical
community and to patients."
"Commercialization of our PCMSM platform will begin
to gain traction this year, and we must have the leadership bench
across the organization to establish our proprietary cell-free DNA
monitoring technology as part of a new standard of cancer care,"
said Antonius Schuh, PhD, chief executive officer of Trovagene. "We
welcome Matt to the Trovagene team, where his experience driving
groundbreaking products in the life science and molecular
diagnostic industry will be instrumental in positioning us as a
leader in the liquid biopsy space."
Prior to joining Trovagene, Posard served on Illumina's
executive team for 9 years, most recently as senior vice president
& general manager of Illumina's new and emerging market
opportunities business. As one of the top executives at Illumina,
he was responsible for identifying, catalyzing, and developing new
markets and solutions for the company. Posard also held leadership
positions including general manager of the company's translational
and consumer genomics business, and vice president of global
marketing. He also oversaw the global sales division for five
years, during which time Illumina achieved its first $1 billion in revenue. Previously, Posard held
leadership roles in sales and marketing at Biosite Inc., where he
was instrumental in the successful introduction of the company's
BNP congestive heart failure biomarker and its BNP co-marketing
collaboration with Beckman Coulter.
Additionally, Posard held various positions in strategic and
product marketing at Gen-Probe, Inc., helping the company attain
leading market positions in DNA probe-based infectious disease
diagnostics, and aiding its introduction into blood banking.
He serves on the board of directors of both Halozyme
Therapeutics, Inc. (NASDAQ: HALO) and Genomic Healthcare
Innovations, Inc., and holds a bachelor's degree in quantitative
economics and decision science from the University of California, San Diego.
About Trovagene, Inc.
Headquartered in San Diego,
California, Trovagene is leveraging its proprietary
technology for the detection and monitoring of cell-free DNA in
urine. The Company's technology detects and quantitates
oncogene mutations in cancer patients for improved disease
management. Trovagene's Precision Cancer MonitoringSM
platform is designed to provide important clinical information
beyond the current standard of care, and is protected by
significant intellectual property including multiple issued patents
and pending patent applications globally.
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimated" and "intend," among others. These forward-looking
statements are based on Trovagene's current expectations and actual
results could differ materially. There are a number of factors that
could cause actual events to differ materially from those indicated
by such forward-looking statements. These factors include, but are
not limited to, substantial competition; our ability to continue as
a going concern; our need for additional financing; uncertainties
of patent protection and litigation; clinical trials involve a
lengthy and expensive process with an uncertain outcome, and
results of earlier studies and trials may not be predictive of
future trial results; uncertainties of government or fourth party
payer reimbursement; limited sales and marketing efforts and
dependence upon fourth parties; and risks related to failure to
obtain FDA clearances or approvals and noncompliance with FDA
regulations. As with any medical diagnostic tests under
development, there are significant risks in the development,
regulatory approval and commercialization of new products. There
are no guarantees that future clinical trials discussed in this
press release will be completed or successful or that any product
will receive regulatory approval for any indication or prove to be
commercially successful. Trovagene does not undertake an obligation
to update or revise any forward-looking statement. Investors
should read the risk factors set forth in Trovagene's Form 10-K for
the year ended December 31, 2014 and
other periodic reports filed with the Securities and Exchange
Commission.
Trovagene Contacts
Investor
Relations
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|
Media
Relations
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David Moskowitz and
Amy Caterina
Investor
Relations
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Ian Stone
Account
Director
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Trovagene,
Inc.
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Canale
Communications, Inc.
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858-952-7593
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619-849-5388
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ir@trovagene.com
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ian@canalecomm.com
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SOURCE Trovagene, Inc.