Venture-backed Xagenic picks Timothy Still as new president and CEO


Xagenic Inc has named Timothy I. Still as its new president and CEO. He will also serve on the company’s board of directors. Still previously led Accumetrics Inc, a U.S.-based point-of-care test manufacturer acquired by ITC Nexus Holding Co in 2013. Based in Toronto, Xagenic is the developer of a fully-automated molecular diagnostic platform that will enable lab-free testing. It is backed by a number of Canadian and U.S. venture capital firms, including BDC Capital, CTI Life Sciences Fund, Domain Associates and Ontario Capital Growth Corp.

PRESS RELEASE

Xagenic Appoints Timothy I. Still as President & Chief Executive Officer

October 16, 2014

TORONTO–(BUSINESS WIRE)–Xagenic, a molecular diagnostics company developing the first lab-free molecular diagnostic platform with a 20 minute time-to-result, today announced the appointment of Timothy I. Still as President and Chief Executive Officer. Mr. Still will also serve as a member of Xagenic Inc.’s board of directors.

“Xagenic’s X1™ molecular testing platform has the potential to revolutionize clinical diagnostics and to dramatically improve patient care by enabling immediate, accurate testing at the point of care”

Most recently, Mr. Still served as President and CEO of Accumetrics Inc., where over a period of five years he transformed the company into a commercially successful point-of-care test manufacturer which was ultimately sold to ITC in 2013. Prior to his time with Accumetrics, Mr. Still was Executive Vice President and Chief Commercial Officer at Hemosense, a point-of-care company that developed, manufactured and commercialized a handheld CLIA Waived device. Hemosense was acquired by Inverness Medical (now Alere) in 2007. Previously, he was Vice President of Sales and Marketing at Cholestech, and also held commercial positions at Boehringer Mannheim and Bio-Rad Laboratories.

“Xagenic’s X1™ molecular testing platform has the potential to revolutionize clinical diagnostics and to dramatically improve patient care by enabling immediate, accurate testing at the point of care,” said Timothy Still, CEO of Xagenic. “I am pleased to join the talented team at Xagenic and lead the company through the successful completion of clinical studies for this innovative diagnostic platform, and commercial launch in the U.S. and international markets.”

“We are extremely pleased to be able to install an executive with such an extensive background in commercializing new point-of-care diagnostic devices,” said Jesse Treu, Board member and Partner at Domain Associates. “Tim’s experience in building commercially-viable companies in the diagnostics industry will be invaluable as Xagenic launches their lead product and continues to build menu for their platform. We are excited to have Tim on board as the company advances towards commercialization of the X1 platform.”

Treu continued, “On behalf of Xagenic’s Board of Directors, I would like to thank Bruce Cohen for his contributions and service as Executive Chairman.” In conjunction with Timothy Still’s appointment, Bruce Cohen has stepped down from his position on the company’s board.

About Xagenic

Based in Toronto, with an office in San Francisco, Xagenic is a privately held molecular diagnostics company developing a fully-automated molecular diagnostic platform that will enable lab-free testing with a time-to-result of 20 minutes. The company is developing a menu of infectious disease tests that will have a positive impact on patient care and reduce health care costs. The company is supported by private investors, including Domain Associates, CTI Life Sciences Fund, the Ontario Capital Growth Corporation and BDC Capital. Xagenic recently received the Frost & Sullivan 2014 Point-of-Care Diagnostics New Product Innovation Leadership Award. For more information, please visit http://www.xagenic.com.

Contacts
Xagenic
Shana Kelley, Ph.D., 1-416-363-1999 x300
Founder & Chief Technology Officer
[email protected]
or
Timothy I. Still, 1-416-363-1999 x250
President & Chief Executive Officer
[email protected]

Photo courtesy of Shutterstock

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