CardioDx Appoints Andrew Guggenhime as Chief Financial Officer and Mark Monane, M.D., as Chief Medical Officer
Two Key Hires Position Company for Continued Growth
PALO ALTO, Calif., Sep 19, 2011 -- CardioDx, a pioneer in the field of cardiovascular genomic diagnostics, today announced the hires of Andrew L. Guggenhime as the company's chief financial officer and Mark Monane, M.D., as chief medical officer.
"We are thrilled to welcome these two extremely accomplished individuals to the CardioDx team," said David Levison, chief executive officer of CardioDx. "Andrew's considerable experience with both public and private companies and Mark's clinical and industry expertise will serve us well as we execute our vision for improving patient management in primary care and cardiology through genomic diagnostics."
Corus(R) CAD, the company's gene expression test, has now been used in nearly 20,000 patients to assess whether or not their symptoms are due to obstructive coronary artery disease. With a simple blood draw, the Corus CAD test provides actionable information that helps clinicians make better decisions, helps patients avoid unnecessary procedures and radiation exposure, and helps payers address a major expense category.
Andrew Guggenhime Takes Role of Chief Financial Officer
"I am excited to join CardioDx during this important time in the company's evolution," said Mr. Guggenhime. "With the pioneering market leadership of Corus CAD, a strong track record of execution, a healthy financial position and the backing of blue chip investors, CardioDx is poised extremely well for growth."
Mr. Guggenhime has more than 10 years of CFO experience, including nine years as a public company CFO. Most recently he served as CFO for Calistoga Pharmaceuticals, Inc., a privately held biotechnology company acquired in April 2011 by Gilead Sciences. Prior to Calistoga, Guggenhime served as senior vice president and chief financial officer for Facet Biotech Corporation, a publicly held company acquired by Abbott Laboratories in April 2010, and CFO for publicly held PDL BioPharma, Inc., a biopharmaceutical company, and Neoforma, Inc., a provider of supply chain management solutions for the health care industry. He began his career in financial services at Merrill Lynch & Co. and Wells Fargo & Company. Guggenhime holds a B.A. from Middlebury College and an M.M. from the J.L. Kellogg Graduate School of Management at Northwestern University.
Dr. Mark Monane, M.D., M.S., Joins CardioDx as Chief Medical Officer
"CardioDx has pioneered the application of genomics to cardiovascular disease, helping us better understand patient signs and symptoms at a molecular level," said Dr. Monane. "The clinical utility of Corus CAD holds the potential to considerably improve the management of patients within both cardiology and primary care."
Dr. Monane was managing director of equity research for Needham & Company for 11 years, focusing on analyses of emerging biotechnology companies in the cardiovascular and cancer areas. Prior to joining Needham, Monane was senior director of medical policy and practices at Medco Health Solutions. Prior to Medco, Monane was assistant professor at Harvard Medical School and Harvard School of Public Health, where he completed fellowship training in geriatrics, clinical pharmacology, and clinical effectiveness. He holds an A.B. and an M.B.A. from Columbia University, an M.S. degree in Health Policy from Harvard University, and an M.D. from New York University.
About Corus CAD
Corus CAD is the first and only clinically validated blood-based test for obstructive coronary artery disease. The test involves a routine blood draw conveniently administered in the clinician's office and does not expose patients to risks of radiation or imaging agent intolerance. Corus CAD is a decision-making tool that can help primary care clinicians and cardiologists evaluate whether a nondiabetic patient's symptoms are due to obstructive coronary artery disease. It is the first sex-specific test for obstructive coronary artery disease, accounting for critical biological differences between men and women.
Findings from the PREDICT validation study of the Corus CAD gene expression test were published in 2010 in the Annals of Internal Medicine, the journal of the American College of Physicians. The test has been honored as a winner of The Wall Street Journal's prestigious Technology Innovation Awards and one of TIME's Top Ten Medical Breakthroughs for 2010.
The Corus CAD test measures the RNA levels of 23 genes from a whole blood sample. Because these RNA levels are increased or decreased when obstructive coronary artery disease is present, the Corus CAD score indicates the likelihood that an individual patient has obstructive coronary artery disease.
Corus CAD is commercially available through an innovative patient sample kit that includes everything needed for blood collection and express delivery to the company's CLIA-certified Palo Alto, Calif. laboratory. Test results are delivered promptly to the clinician's office. Corus CAD is currently available in the United States.
For more information please visit http://www.cardiodx.com/media-kit/ .
About Gene Expression Testing
Gene expression testing provides valuable tissue and cell-specific information about the molecular mechanisms involved in disease processes, enabling evaluation of an individual patient's disease state, activity, and/or progression at a given point in time. Unlike genetic tests, which measure genetic variations, mutations, traits and predispositions -- factors that are constant over a person's lifetime -- gene expression testing assesses a dynamic process, integrating both genetic predisposition and additional behavioral and environmental influences on current disease state.
CardioDx, Inc., a pioneer in the field of cardiovascular genomic diagnostics, is committed to developing clinically validated tests that empower clinicians to better tailor care to each individual patient. Strategically focused on coronary artery disease, cardiac arrhythmia and heart failure, CardioDx is poised to expand patient access and improve healthcare quality and efficiency through the commercialization of genomic technologies. For more information, please visit www.cardiodx.com .