SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--diaDexus, Inc. (OTCQB:DDXS), a company developing and commercializing proprietary cardiovascular diagnostic products, today announced the appointment of Pat Arensdorf as general manager and head of the heart failure business unit with responsibility for the development and commercialization of the company’s heart failure biomarkers.
“Our emerging heart failure program will begin a new, accelerated stage of development with Pat’s leadership,” said Lori Rafield, Ph.D., interim executive chair and chairman of the board for diaDexus. “Pat has extensive experience developing and commercializing cardiovascular diagnostic products in both clinic and laboratory settings. As we evolve from a single-product business to a multi-product company, these biomarkers will become important drivers of our future growth. We are planning to move our first heart failure marker proADM into development by the end of this year.”
“I look forward to developing the heart failure business at diaDexus to deliver these important new prognostic tools for physicians’ management of heart failure patients that provide information independent of already commercialized cardiovascular risk markers,” said Pat Arensdorf. “These biomarkers already have extensive published clinical evidence supporting their clinical utility over the current standard of care. I am committed to leading and growing this new business as an important new product pipeline offering and a significant value creation opportunity for diaDexus.”
Mr. Arensdorf has more than 20 years of experience in the medical technology industry. Prior to joining diaDexus, he has been an active executive, founder and advisor to companies ranging from early-stage startups to large established multinationals, including both commercial and not-for-profit non-governmental organizations. Most recently, he was chief executive officer of Critical Diagnostics, where he led a new regulatory strategy resulting in the most recent FDA clearance of a novel heart failure biomarker. He has been involved in the founding strategies, corporate development and financing of several companies from concept through product launch, including Immumetrix (transplant diagnostics; acquired by CareDx), Tethys Bioscience (cardiometabolic clinical laboratory and pre-diabetes test developer; acquired by Health Diagnostic Laboratory) and Intersect ENT (medical devices). His career in cardiovascular diagnostics began at First Medical, a pioneer in cardiac marker point-of-care testing, which he led as chief executive officer through a venture-backed restart, business acquisition and subsequent product launch as part of Sigma-Aldrich Corporation. Mr. Arensdorf received his master’s degree from the Stanford Graduate School of Business and bachelor’s degree in molecular biology from Princeton University.
About diaDexus, Inc.
diaDexus, Inc., based in South San Francisco, California, develops and commercializes proprietary cardiovascular diagnostic products addressing unmet needs in cardiovascular disease. The company's PLAC® Test ELISA Kit is the only blood test cleared by the FDA to aid in predicting risk for both coronary heart disease and ischemic stroke associated with atherosclerosis, the #1 and #3 causes of death, respectively, in the United States. The company's PLAC® Test for Lp-PLA2 Activity, a CE-marked test, is an indicator of atherosclerotic cardiovascular disease, the #1 cause of death in Europe. The Activity Test is currently under FDA review in the United States. The company also has heart failure biomarkers for future development. For more information, please visit the company's website at www.diaDexus.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Important factors include our ability to develop and commercialize new products and services; our ability to successfully develop and commercialize tests to measure MR-proADM, CT-proET-1, MR-proANP for clinical evaluations; the timing of when the development efforts may be completed; and whether the FDA will clear any or all of these commercial tests. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our most recent quarterly report on Form 10-Q and other reports filed with the Securities and Exchange Commission, and available at the SEC's web site at www.sec.gov. The information in this release speaks only as of the date hereof, and except as required by law, we disclaim any obligation to update or revise any forward looking statement.
