Aushon Biosystems Appoints to Board

Aushon Biosystems has appointed Thomas Mac Mahon, former president and CEO of Laboratory Corporation of America(R) Holdings, to its board of directors. Mac Mahon served as chairman of LabCorp from 1996 to 2009 and as CEO and president from 1997 to 2006.

PRESS RELEASE

With a range of products and services driving the development of personalized medicine, Aushon Biosystems has appointed Thomas Mac Mahon, former president and CEO of Laboratory Corporation of America(R) Holdings (LabCorp(R)), to its board of directors. The expansion of its board builds on Aushon’s recent momentum as it is poised for significant growth in 2013.

Aushon provides a suite of multiplex immunoassay products and services for the discovery and development of the biomarkers necessary to enable personalized medicine innovation. Aushon’s multiplex approach involves simultaneously measuring and comparing multiple proteins – which eliminates the cost and time obstacles that have traditionally been associated with personalized medicine development with the singleplex ELISA platform.

“Multiplex technology allows us to cast a wider net across a diverse array of biologies known to play a role in the development of cancer and determine the response of pharmacological agents on them,” said Dr. Andrew Nixon, associate professor of medicine and director of the Phase I Biomarker Laboratory at Duke University. “Using this research approach, we’re better able to allocate our limited resources – both patient sample and money – for optimal success.”

Life sciences and diagnostics industry veteran Mac Mahon took notice of Aushon’s multiplex approach as critical to the future of personalized medicine.

“The current gold-standard approach to protein analysis comes with unnecessary cost and time barriers that prevent personalized medicine from becoming a reality for all,” said Mac Mahon. “I’m excited to continue my work advancing diagnostics and personalized medicine advancement with Aushon – which has created the approach that breaks down the current barriers – and will drive the future of personalized medicine.”

Mac Mahon served as chairman of LabCorp from 1996 to 2009 and as CEO and president from 1997 to 2006. Previously, he held the roles of senior vice president of Hoffmann-La Roche Inc., president of Roche Diagnostics Group, and chairman of PharMerica Corporation. Mac Mahon has also been presiding director of Aristotle Holding, Inc. and Express Scripts Holding Company since May 2008 and also serves as a director of SynapDx Corporation.

Aushon Poised for Continued Growth

With key areas of expertise in oncology and inflammatory diseases, Aushon now works with nine out of the top 10 pharmaceutical companies and is expecting more than 30 percent year-over-year revenue growth this year. To support this growth and anticipated doubling of revenue in 2014, Aushon also plans to increase its employee base by 25 percent in 2013. In addition, Aushon will expand its global footprint, with current employees and distributors across North America, Europe, Asia and Australia.

“Ultimately, personalized medicine will bring better treatments at lower costs to the average patient. This can only happen if we empower discovery through accurate, time- and cost-effective means,” said Pete Honkanen, CEO, Aushon. “Tom is an invaluable resource to Aushon as we continue to drive transformation in the industry.”

About Aushon

Aushon BioSystems, Inc. provides a comprehensive suite of multiplex immunoassay products and services for protein biomarker discovery, development, and analysis to leading pharmaceutical, biotechnology, academic and diagnostic clients worldwide. Our unique combination of proprietary microarray printing, extensive biomarker content, and our innovative Cira immunoassay platform deliver exceptional performance, quality, and reliability to accelerate preclinical and clinical biomarker research. Our customers, who include nine of the top 10 pharmaceutical companies, trust Aushon to supply the most reliable biomarker data available, lowering costs and improving research productivity. Based in Billerica, Mass., Aushon is privately-held and its investors include North Bridge Venture Partners.

About North Bridge Venture Partners

North Bridge Venture Partners is an active, bi-coastal, early-stage venture capital firm based in Boston, Massachusetts and San Mateo, California. Established in 1994, North Bridge provides seed-to-growth financing and company-building expertise. Together with North Bridge Growth Equity, North Bridge manages over $3 billion. Working in concert with entrepreneurs, North Bridge adds value by providing strategic guidance, sharing operating experience, industry specific knowledge, team-building skills and an in-depth understanding of both private and public financings.

SOURCE: Aushon BioSystems