Genalyte Appoints William A. Hagstrom to Board of Directors

SAN DIEGO, June 15, 2016 /PRNewswire-USNewswire/ -- Genalyte, Inc. announced today that William A. Hagstrom has been appointed to its Board of Directors, bringing his more than three decades of executive and board-level experience in the healthcare and diagnostic sectors to the company redefining diagnostics. Hagstrom is the founder and CEO of Octave Bioscience and the former CEO of Crescendo Bioscience.

"Bill Hagstrom is a well-respected innovator in the healthcare and diagnostic space, and we're pleased to have him join our board as we transform the doctor-patient relationship," said CEO Cary Gunn. "His clinical development experience will be invaluable as we achieve our goal of bringing the doctor, the patient and the lab together to provide timely results to physicians and patients."

"Genalyte has a tremendous opportunity to emerge as a leader and innovator in redefining clinical diagnostics. I am excited to be part of the company's next phase of growth and look forward to working closely with Cary and the Genalyte team in the integration of breakthrough instrument systems, assays and data analytics to deliver superior insights to better guide patient management decisions," Hagstrom said.

Hagstrom brings extensive leadership experience with early and mid-stage biotechnology and diagnostics companies to Genalyte's board. Currently the founder and CEO of Octave Bioscience, an early-stage diagnostics company focused on neurodegenerative diseases, Hagstrom previously served as president and CEO of Crescendo Bioscience, which concentrated on specialty diagnostics for autoimmune and inflammatory diseases. At Crescendo, he secured multiple rounds of financing, directed the company's product pipeline strategy and scaled commercial operations leading up to the acquisition of the company by Myriad Genetics in 2014. Crescendo was recognized on the Inc. 500 list of fastest growing companies, the Deloitte Fast 500, Red Herring 100 and by Frost & Sullivan for Best in Class Diagnostics. 

Prior to joining Crescendo, Hagstrom was president of Alpha BioPartners, a strategic consulting firm specializing on early-stage biotechnology companies. While at Alpha, he co-founded Biolytx Pharmaceuticals and Altheus Therapeutics. He also previously served as interim CEO of Selexys Pharmaceuticals and Inoveon. Earlier, Hagstrom was Chairman and CEO of specialty diagnostics firm UroCor, as well as held executive positions at multinational healthcare firms Becton Dickinson, American Hospital Supply and Baxter International.

About Genalyte

Genalyte is transforming the doctor-patient relationship by bringing the doctor, the patient, and the lab together to provide results when they matter: Now. By moving data – not blood – our
technology provides test results in under fifteen minutes from one drop of blood in the doctor's
office.  This empowers doctors, improves patient lives, and creates a more efficient healthcare system.

Founded in 2007 and commercial since 2013, Genalyte is based on a simple premise: In the 21st century it is unacceptable that doctors, patients and researchers should have to wait days or even weeks for reliable bloodwork results. Genalyte's technology, which leverages silicon biosensor technology to digitize blood samples, is already in use by pharmaceutical companies and academic researchers as part of the drug development process.

By providing diagnostic results at the time and place they are needed – when the patient is sitting in front of the doctor – there is enormous opportunity to transform our healthcare system and improve quality of care for patients while lowering costs.

For more information, visit www.genalyte.com. 

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SOURCE Genalyte, Inc.

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