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September 03, 2015 11:53 AM ET

Life Sciences Tools and Services

Company Overview of Precision Therapeutics, Inc.

Company Overview

Precision Therapeutics, Inc., a life-sciences company, develops a portfolio of products to guide physicians and patients with difficult clinical decisions throughout the cancer care continuum. It offers ChemoFx, a drug response marker that quantifies an individual gynecologic cancer patient's probable tumor response to various chemotherapeutic and biologic agents providing sensitivity and resistance information; BioSpeciFx, a group of clinically relevant and validated biomarker tests associated with drug response and patient prognosis; and GeneFx Colon, a microarray-based gene signature developed for stage two colon cancer patients from FFPE tissue. The company was founded in 1995 and is hea...

2516 Jane Street

Pittsburgh, PA 15203

United States

Founded in 1995

80 Employees

Phone:

412-432-1500

Fax:

800-549-6407

Key Executives for Precision Therapeutics, Inc.

Chief Executive Officer, President and Director
Age: 55
Chief Financial Officer and Vice President
Age: 57
Vice President of Operations
Vice President of Global Market Access and Strategic Accounts
Chief Technology Officer
Age: 51
Compensation as of Fiscal Year 2015.

Precision Therapeutics, Inc. Key Developments

Precision Therapeutics, Inc. Announces Management Appointments

Precision Therapeutics, Inc. has strengthened its management team with the appointment of Neil J. Campbell as President and CEO. He has held C-level and senior management positions at Abbott Laboratories, where he worked in the diagnostics division in sales, marketing and business development; Celera Genomics, where he served as Senior Director, Commercial Development; Life Technologies (now Invitrogen), where he managed the worldwide Cell & Molecular Biology business; EntreMed, Inc. (now CASI Pharmaceuticals), where he served as President and CEO; and SuperNova Diagnostics, Inc., Mr. Campbell co-founded and served as President and CEO. Other senior level appointments include Dane R. Saglio to Vice President and CFO. Mr. Saglio has in-depth experience in finance and accounting having previously served as CFO at numerous public and private companies, including RegeneRx Biopharmaceuticals, New Generation Biofuels and EntreMed, Inc. (now CASI Pharmaceuticals). The company has named Ed A. Whigham to Vice President of Sales. Mr. Whigham has an impressive 25-year sales career in the diagnostics division at Abbott Laboratories and most recently as Vice President at Given Imaging. Helomics' new Board of Directors consists of six prominent industry veterans: Todd C. Davis, Chairman of the Board (HC Royalty, Elan, Abbott); Neil J. Campbell, Director (Abbott, Celera Genomics, Life Technologies, EntreMed, SuperNova Diagnostics); Clarke B. Futch, Director (HC Royalty, Thomas Weisel Partners, Raymond James); Marc Kozin, Director (L.E.K Consulting); D. Stafford O'Kelly, Director (Abbott Molecular Diagnostics); and Matthew Q. Reber, Director (HC Royalty, Oak Hill Capital Partners, Morgan Stanley).

Precision Therapeutics Seeks Acquisitions

Precision Therapeutics, Inc. is looking for acquisition opportunities. Neil Campbell, President and Chief Executive Officer of Precision Therapeutics said, "We’ll look at licensing, acquisition, sponsored research, and we have a lot of models that are extremely creative and proprietary that we'll be announcing in the coming year."

Precision Therapeutics, Inc. Receives Regulatory Approval of GeneFx(R) Lung Under CLIA

Med BioGene Inc. announced that its commercial partner, Precision Therapeutics, Inc. has received regulatory approval of GeneFx(R) Lung under CLIA (Clinical Laboratory Improvement Amendments of 1988), the United States federal regulations applicable to clinical laboratory testing. With this approval, Precision may undertake testing of GeneFx Lung in its CLIA-certified clinical laboratory in Pittsburgh, Pennsylvania. The evidentiary requirements of payors in the United States relating to the clinical utility of high-value molecular diagnostic tests, which includes GeneFx Lung, has varied over the last couple of years as among the numerous Medicare contract administrators who make coverage determinations within their jurisdictions, and as among other third-party payors. Also, specific payors have recently declined coverage of some molecular diagnostic tests citing a lack of evidence of clinical utility in the submissions. In advance of the commercial launch of GeneFx Lung, Precision plans to engage in further dialogue with payors to better understand the current landscape and the specific needs of relevant payors as they apply to GeneFx Lung and will incorporate this into their launch strategy in order to ensure that efforts are aimed to provide clinical utility data that satisfies payors' requirements. As such, the timing of the commercial launch of GeneFx Lung will be established by Precision in light of these considerations.

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