On-Q-ity Names Industry Leader and Diagnostics Expert, Walter Carney, Ph.D., as Chief Scientific Officer

On-Q-ity Names Industry Leader and Diagnostics Expert, Walter Carney, Ph.D., as Chief Scientific Officer 

WALTHAM, Mass., Nov. 16, 2010 (GLOBE NEWSWIRE) -- On-Q-ity, a next-generation oncology diagnostics company developing personalized and predictive tests to improve cancer therapy effectiveness, today announced that Walter Carney, Ph.D., has joined the company as Chief Scientific Officer. As CSO, Dr. Carney will oversee all of the research programs and the scientific vision for On-Q-ity's proprietary technology platforms in personalized cancer diagnostics. Dr. Carney joins On-Q-ity from Oncogene Science where he was Chief Executive Officer. 

"Walt has a pioneering spirit for uniting diagnostics with medicines that is right in line with         On-Q-ity's goal of using advanced diagnostics to revolutionize cancer patient management," stated Mara G. Aspinall, Chief Executive Officer of the company. "We are thrilled to have Walt join On-Q-ity at a time of great progress in our oncology diagnostic product programs. His well-documented leadership combined with his experience in developing diagnostics, specifically quantitative assays for cancer patient monitoring, make him an invaluable and dynamic asset to our team."

"On-Q-ity is at the forefront of diagnostic technology that has the capability to change the way cancer treatment decisions are made today and tomorrow," said Dr. Carney. "It is truly exciting to be working with the On-Q-ity team to advance the company's platforms towards product launches."

As CEO of Oncogene Science, Dr. Carney managed all aspects of the scientific and business operations. Oncogene is a diagnostics company known for the discovery of proprietary monoclonal antibodies and the development and manufacturing of a variety of oncology ELISA tests, including the currently used serum HER-2/neu ELISA test co-invented by Dr. Carney.

Dr. Carney currently serves as Assistant Clinical Professor, Department of Pathology at the Tufts Medical Center. He recently served as Chairman of the Scientific Advisory Board at Signet Laboratories and is an active member of the American Association for Cancer Research, the American Association for the Advancement of Sciences, the American Association for Clinical Chemistry, and the American Society for Clinical Oncology. In 2001, Dr. Carney was awarded the prestigious OTTO Bayer Scientific Award, the highest scientific honor awarded by Bayer AG. He is the author of numerous published articles and holds more than 25 patents in diagnostics.

This release follows On-Q-ity's announcement last week of a nearly $1,000,000 in grants from the Qualifying Therapeutic Discovery Project. 

About On-Q-ity

On-Q-ity is a next-generation diagnostics company transforming cancer treatment through non-invasive diagnostic monitoring. The company is developing innovative diagnostics to identify the unique characteristics of an individual's cancer, predicting the response to therapy, and monitoring the efficacy of treatment. Headquartered in Waltham, MA, On-Q-ity is funded by Atlas Venture, Bessemer Venture Partners, MDV-Mohr Davidow Ventures, Northgate Capital and Physic Ventures. For more information: www.On-Q-ity.com.

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