Pathwork Diagnostics Inc. Appoints Lee McCracken as CEO
Redwood City, CA, October 30, 2012 – Pathwork Diagnostics, Inc., the innovator of the Pathwork® Tissue of Origin Test and a pioneer in creating genomics-based diagnostics in oncology, today announced the appointment of Lee R. McCracken as Chief Executive Officer.
"On behalf of Pathwork's board and investors, I am delighted to welcome Mr. McCracken to the Pathwork team," said Peter Klemm, Ph.D., Chairman of the Board. "Lee, with his considerable leadership and corporate development experience, is an outstanding choice to lead Pathwork to the next level of success," said Dr. Klemm.
"I am truly pleased to join Pathwork at this exciting time in the company's history," said Mr. McCracken. "I believe the Tissue of Origin Test is positioned to become the standard of care for difficult-to-diagnose cancer tumors. Furthermore, Pathwork's proprietary informatics platform -- which enabled the creation of the Tissue of Origin Test -- has significant potential for developing new products. I look forward to leading the company's next stage of growth."
Lee McCracken, who serves on the company's Board of Directors, has over 20 years of experience in the life sciences, spanning novel high-value diagnostics, specialty pharmaceuticals and platform technologies in both private and public companies. He joins Pathwork following seven years as Corporate Head of Business Development at Prometheus Laboratories, a leading personalized healthcare company in gastroenterology and oncology. Prior to Prometheus, Mr. McCracken served as Senior Vice President of Pharmaceutical Business Development at Diversa Corporation. Earlier in his career, he held leadership roles with GenStar Therapeutics, CombiChem and Allergan Americas.
Before pursuing operating and corporate development roles in the life sciences, Mr. McCracken was a venture capitalist with 3i Capital and Union Venture. Mr. McCracken holds a B.S. from Santa Clara University, a Master of Computer Science from University of Dayton and an M.B.A. from UCLA Anderson School of Management.
About the Pathwork® Tissue of Origin Test
The company's Pathwork® Tissue of Origin Test is the only FDA-cleared, Medicare-covered molecular diagnostic test for tissue of origin. It uses a tumor's own genomic information to help pathologists and oncologists in the diagnosis of challenging cancer cases such as those that are metastatic or that have a complex clinical history.
The Pathwork® Tissue of Origin Test, available through the Pathwork Diagnostics Laboratory, measures gene expression levels of 2,000 genes and uses proprietary algorithms to compare the tumor's gene expression pattern to that of 15 tumor types, representing 58 morphologies and 90% of all solid tumors. The test provides objective genomic information to help the physician diagnose what type of cancer the patient has. Diagnosis allows oncologists to match therapy to the cancer.
About Pathwork Diagnostics
Pathwork Diagnostics created its proprietary informatics platform to develop high-value, medically important diagnostics aimed at helping guide cancer care. Pathwork has commercialized its first product, the Pathwork® Tissue of Origin Test, and is poised to further aid oncologists and pathologists through development of clinical products based on genomic analysis. Pathwork is privately held and based in Redwood City, CA. Key investors include Alta Partners, Abingworth, Prospect, Novus and Venrock. For more information call toll-free (877) 808-0006 or visit www.pathworkdx.com.
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