Nanotechnology Now - Press Release: BioNanomatrix Board Chairman Erickson Named President, CEO, as Genomic Analysis Technology Company Prepares for Market Entry

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Abstract:
Battelle Ventures General Partner Tracy Warren succeeds Erickson as board chair

BioNanomatrix Board Chairman Erickson Named President, CEO, as Genomic Analysis Technology Company Prepares for Market Entry

Philadelphia, PA | Posted on December 19th, 2009

The board of directors of BioNanomatrix, Inc., a developer of breakthrough single-molecule genomic analysis technology, has elected Edward L. Erickson company president and chief executive officer.

Erickson, who was executive chairman of the board, succeeds Michael Boyce-Jacino, who has stepped down as president and CEO and from the board. Battelle Ventures General Partner Tracy Warren succeeds Erickson as chairperson.

"As the company rapidly approaches commercialization of its NanoAnalyzer® system in the coming year, initially for advanced DNA analysis," said Warren, "the board has implemented these changes to prepare for late-stage product testing at major research institutions and for market introduction thereafter.

"Mike's scientific expertise helped guide the company through its initial venture funding and early product development," she continued, "and now Ed has taken the reins, to directly apply his extensive experience in the development and commercialization of life science research products, diagnostic platforms and other medical products."

Noting that Erickson has served as president, CEO or a director of more than a dozen life-science-based companies, three of which successfully completed IPOs under his leadership, Warren added that he has been on the BioNanomatrix board since the company's first venture financing.

"As the company moves into the commercial phase of its development, we're confident that under Ed's leadership BioNanomatrix will successfully advance through the critical steps necessary to achieve significant market acceptance and adoption," she said.

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About BioNanomatrix
BioNanomatrix is developing breakthrough nanotechnology-enabled genome analysis systems for applications in life science research, molecular diagnostics and personalized medicine. The company’s platform technology permits users to image directly and analyze very long strands of DNA in real time at the single-molecule level, at both high resolution and very high throughputs. This technology has the potential to increase the utility of whole genome imaging and analysis for a wide range of research and diagnostic applications, providing fast, comprehensive and low-cost analysis of genomic, epigenomic and proteomic information. BioNanomatrix’s technologies are licensed exclusively from Princeton University. Founded in 2003, the company is headquartered in Philadelphia, Pa., and is backed by Battelle Ventures, Ben Franklin Technology Partners of Southeastern Pennsylvania and KT Venture Group and other institutional and private investors. For more information, visit: www.bionanomatrix.com

About Edward L. Erickson

Most recently, Edward L. Erickson has been a consultant to entrepreneurial companies and venture capital firms. He has extensive experience in the life science industries having served as president, CEO or a director of over a dozen such companies, four of which successfully completed IPOs during his tenure, including three as CEO. He has raised some $500,000,000 in equity and debt capital in the private and public capital markets.

His current directorships include:

 Metabolon, Inc., a diagnostic products and analytical services company offering the industry's leading biochemical profiling platform for the discovery of biomarkers and pathways associated with drug action and disease;
 Molecular Biometrics, Inc., a diagnostics company developing analytical methodologies and products for diagnosis and monitoring applications – initially focusing on in vitro fertilization

Erickson has previously served:

 as a director of BioTrove, Inc., a life science research products and services company with proprietary technology for biological research, drug discovery, drug development and diagnostic applications. The company was recently acquired by Life Technologies Corporation {NASDAQ:LIFE};
 as a director of Barrier Therapeutics, Inc., a pharmaceutical company in the field of dermatology, acquired by Stiefel in 2008;
 as an advisor and consultant to the University City Science Center in Philadelphia, evaluating and assisting in the management of new ventures;
 as chairman, president and CEO of Cellatope Corporation, a private venture-capital-backed diagnostics company in the field of autoimmune disease diagnostics, from 2007-2009. The Company’s technology was acquired by Cypress Bioscience, Inc.{NASDAQ:CYPB} earlier this year;
 as chairman of research and diagnostic products company Immunicon Corporation from 1998 to 2007; and as CEO from 1999-2005. Immunicon completed an IPO in April 2004;
 as president and CEO of DepoTech Corporation, a biopharmaceutical company in the drug delivery field (1993-1998); he took DepoTech public in 1995;
 as a director (1995-1998) of Megabios Corporation, a gene therapy company that completed an IPO in 1997;
 as president and CEO (1991-1993) of Cholestech Corporation , a diagnostics company in point-of-care lipid testing and screening. While at Cholestech, he completed a successful turnaround of the company and IPO. Cholestech was named as one of the top 10 best performing IPOs of 1992;
 as a senior executive (1988-1991) of The Ares-Serono Group (now Merck Serono S.A.), then a publicly traded pharmaceutical company based in Switzerland; at Serono he was president of Serono-Baker Diagnostics, and earlier was vice president of financial operations for the Group; and
 in executive and general management positions (1983-1988) at Amersham International, then a publicly traded, diversified healthcare and life sciences company in the U.K. (now a unit of GE).

Erickson earned B.S. and M.S. degrees in mathematics from the Illinois Institute of Technology. He received an MBA with high distinction in general management from Harvard Business School, where he was elected a George F. Baker Scholar and was awarded the John L. Loeb Fellowship in finance. In 2004 he was the recipient of Small Times magazine’s “Best of Small Tech: Business Leader” Award in nanotechnology.

Note: NanoAnalyzer is a registered trademark of BioNanomatrix, Inc. The names of other companies, other entities, products and/or services mentioned herein may be the trademarks of their respective owners.