Exosome Diagnostics, a leading developer of non-invasive, biofluid-based molecular diagnostics, today announced the appointment of Thomas McLain as its chief executive officer, effective July 23, 2014. The company is also announcing the relocation of its headquarters to Cambridge, Mass.
“I am very pleased that Exosome Diagnostics has been able to attract Tom, a proven leader with a demonstrated track record of accomplishment in building life sciences companies and generating significant shareholder value,” said Kapil Dhingra, chairman of the Board of Directors of Exosome Diagnostics. “He is an experienced business executive who combines a thorough understanding of technology, healthcare delivery and economics. His recent experience in the development and commercialization of non-invasive diagnostic tests is especially relevant to the opportunities that lie ahead for us. On behalf of the Board, I would like to express our sincere appreciation to James McCullough who led the company as the CEO since its founding. His passion and dedication has laid a solid foundation for this company.”
Mr. McLain most recently was the CEO of Vermillion, a medical diagnostics company focused on women’s health. While there, he led a strategic transformation of the company increasing its market capitalization fivefold to over $100 million. Prior to joining Vermillion, he was the CEO of start-up Claro Scientific, a diagnostics company with a novel optics-based platform technology. Previously he was chairman, CEO and president of Nabi Biopharmaceuticals where he led the evolution of a plasma supply based business into a fully integrated biopharmaceutical company. Over his career, he has raised over $300 million in new capital and structured successful commercial alliances, joint ventures and research collaborations. Mr. McLain earned his B.A. at the College of the Holy Cross, Worcester, Mass., and his M.B.A. from the University of Rochester, Rochester, NY.
“Exosome Diagnostics’ revolutionary platform is poised to personalize medical care,” said Mr. McLain. “I look forward to working with the team at Exosome to lead the next phase of its strategic development to become a commercial stage company. We will leverage Exosome’s proprietary technology, CLIA laboratory and commercialization partnerships to deliver a significant value for all stakeholders.”
About Exosome Diagnostics
Exosome Diagnostics is a leading developer of fluid-based molecular diagnostic tests for use in personalized medicine. Exosomes and other microvesicles are packaged and shed into all biofluids, including blood, urine and cerebrospinal fluid, providing a stable source for intact, disease-specific genetic material. The company’s proprietary exosome technology makes use of the presence and natural stability of RNA in exosomes to detect and measure levels of genes responsible for cancer and other diseases. For more information, please visit www.exosomedx.com.