SAN DIEGO--(BUSINESS WIRE)--Illumina, Inc. (NASDAQ:ILMN) today announced the appointment of Stephen Pentoney as Vice President of Array Biochemistry reporting to Joel McComb, Senior Vice President and General Manager of Illumina’s Life Sciences Business Unit. In Stephen’s new role, he is responsible for leading Illumina’s assay and application development efforts.
Prior to joining Illumina, Stephen held multiple positions at Beckman Coulter including his most recent role as Director of Technology Management for the Molecular Diagnostics Business Center. In this position Stephen was responsible for technology transfer oversight, new assay development, and next-generation technology scouting and development. From 1999 to 2007 Stephen was the Director of Advanced Systems Chemistry for Beckman Coulter’s Advanced Technology Center. His direct project responsibilities included the development of next generation prototype systems for bead-based multiplexed immuno and nucleic acid assays, and point-of-care lab diagnostic testing.
For 10 years prior, Stephen held a number of research and development positions at Beckman Coulter. From Staff Scientist in 1989 to Principal Staff Scientist in 1998, Stephen gained significant experience developing automated DNA sequencing chemistry and instrumentation, clinical diagnostic testing systems, advanced multiplexed analysis systems, and advanced separations instrumentation.
Stephen received a Bachelor of Science degree in Chemistry from California State University and a Ph.D. in Analytical Chemistry from University of California. Stephen also completed his postdoctoral research in laser based chemical analysis at Stanford University.
“Stephen brings to Illumina nearly 20 years of experience in both Life Sciences and Molecular Diagnostics,” said Joel McComb. “His career history and recent experience with shaping molecular diagnostic strategies will help us prepare to enter this new market.”
About Mr. Pentoney’s Compensation
The Company granted an option to purchase 56,000 shares of Illumina's common stock to Mr. Pentoney as part of his inducement to join the company. The option was granted by the Company's compensation committee pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) and under Illumina's New Hire Stock and Incentive Plan, which was approved by Illumina's Board of Directors on January 29, 2008. This option has the following terms: an exercise price equal to the closing fair market value of Illumina's common stock on the grant date, a ten-year term and vesting over four years with 25 percent of the option vesting one year from the grant date and 1/48th of the option vesting monthly thereafter. The grant date for this option is July 21, 2008.
Illumina (www.illumina.com) is a leading developer, manufacturer, and marketer of next-generation life-science tools and integrated systems for the analysis of genetic variation and biological function. Using our proprietary technologies, we provide a comprehensive line of products and services that currently serve the sequencing, genotyping, and gene expression markets, and we expect to enter the market for molecular diagnostics. Our customers include leading genomic research centers, pharmaceutical companies, academic institutions, clinical research organizations, and biotechnology companies. Our tools provide researchers around the world with the performance, throughput, cost effectiveness, and flexibility necessary to perform the billions of genetic tests needed to extract valuable medical information from advances in genomics and proteomics. We believe this information will enable researchers to correlate genetic variation and biological function, which will enhance drug discovery and clinical research, allow diseases to be detected earlier, and permit better choices of drugs for individual patients.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: this release may contain forward-looking statements that involve risks and uncertainties. Among the important factors that could cause actual results to differ materially from those in any forward-looking statements are Illumina’s ability (i) to integrate effectively our recent acquisition of Solexa, Inc., (ii) to develop and commercialize further our BeadArray™, VeraCode®, and Solexa® technologies and to deploy new sequencing, gene expression, and genotyping products and applications for our technology platforms, (iii) to manufacture robust microarrays and Oligator® oligonucleotides, (iv) to integrate and scale our VeraCode technology, together with other factors detailed in our filings with the Securities and Exchange Commission including our recent filings on Forms 10-K and 10-Q or in information disclosed in public conference calls, the date and time of which are released beforehand. We disclaim any intent or obligation to update these forward-looking statements beyond the date of this release.