Nabsys Expands Its Management Team by appointing Peter Lewis as Chief Financial Officer and Darren Lee as Vice President, Business Development

PROVIDENCE, R.I., Oct. 10, 2012 /PRNewswire/ -- Nabsys, Inc., a life sciences company pioneering solid-state, single-molecule positional sequencing for broad applicability in DNA analysis, today announced two additions to its senior management team, Peter Lewis as chief financial officer and Darren Lee as vice president, business development. These appointments are part of the company's transition from a technology development focus to a commercial entity that is manufacturing and selling a portfolio of products for genome analysis based on the company's proprietary positional sequencing technology.

Nabsys' positional sequencing (NPS) is a unique genome analysis platform with broad utility in microbial and eukaryotic assembly and finishing, diagnostics and sequencing.  It has the capability of providing both positional and sequencing information simultaneously.  Single molecules of DNA with tags designed to detect a known sequence pass through solid-state nanodetectors that can distinguish DNA from background, and identify the locations of bound tags based on changes in electronic current flow. Long distance maps are generated from each single molecule read, revealing the locations of targeted sequences.  Depending on the nature and complexity of sequences targeted, the same technology platform can be used to query genome structural variation, to create genome maps, to target specific genes for sequence analysis, to identify the locations of epigenetic marks, or to reveal entire genome sequences.

"We've been making steady progress in pushing our core technology forward," said Barrett Bready, M.D., chief executive officer of Nabsys. "As we continue transitioning from technology development to becoming a commercial-stage company, we are fortunate to have people such as Darren and Peter join our senior management team. Their respective expertise and industry knowledge will undoubtedly help us build a strong foundation for our business, and accelerate our product commercialization efforts."

Darren Lee has more than 25 years of experience in marketing management, business development and engineering in the life sciences and clinical diagnostics industries. Prior to joining Nabsys, Mr. Lee served as vice president of Marketing for the Tissue Imaging Business at PerkinElmer, Inc., following the acquisition of Caliper Life Sciences. He joined Caliper previously through the acquisition of Cambridge Research & Instrumentation (CRI) where he was vice president of Marketing.  Before joining CRI, Mr. Lee served as vice president of Corporate Development at both PrimeraDx and Decision Biomarkers.  He has also held senior level positions at PerkinElmer and Packard Biosciences. Darren received a B.S. in Biomedical Engineering Technology from Temple University and M.S. in Technology Management from Pepperdine University.

"We are both developing internal commercial plans for our initial research products as well as actively seeking partners to help us develop and commercialize diagnostic applications of our positional sequencing technology," said Stan Rose, chief commercial officer of Nabsys.  "Darren's distinguished track record of success in marketing and business development across a broad range of complex life science businesses will prove extremely valuable as we refine our marketing strategies and strengthen the Company's go-to-market plan."

Peter Lewis brings more than 20 years of experience in accounting, financial management and corporate process development in the life science industry.  Prior to joining Nabsys, he served as vice president of Finance and Administration at Bioscale, Inc.  Mr. Lewis previously served as vice president of Finance and Administration at Affymetrix following the acquisition of Genetic MicroSystems, where he was chief financial officer.  He has also held senior level positions at First Boston Pharma, Instron Corporation and Perkin-Elmer.  He received a B.S. in Mechanical and Materials Engineering and MBA from the University of Connecticut.

"Peter brings significant experience as a senior finance executive from both early stage tool companies as well as larger multinational life science organizations," commented Rose.  "He has created finance departments from the ground up, played key roles in strategic financial planning and modeling of new business opportunities, and has extensive knowledge of best industry practices.  He will be a key contributor as we drive towards the launch of our first product and begin generating revenue."

About Nabsys
Nabsys is dedicated to enabling advances in life sciences and healthcare through strategic deployment of a novel positional sequencing platform with broad applicability for DNA analysis. The Nabsys platform uses solid-state nanodetectors to analyze single DNA molecules, revealing both location and identity of DNA sequences over long distances. The system is designed to set new standards for accuracy, speed and scalability, offering compelling advantages for the analysis of genome structural variation, genome mapping, and both targeted and whole genome sequencing. Nabsys was the first company to receive a "$1000 Genome" award from the National Human Genome Research Institute of the National Institutes of Health for an electronic approach to sequencing DNA. For more information about Nabsys, please visit www.Nabsys.com.

Company Contact:
Barrett Bready, M.D.
President, Chief Executive Officer and Director
Nabsys, Inc.
401-276-9100  Ext. 200
[email protected]

Media Contact:
Robert Flamm, Ph.D.
Russo Partners
212-845-4226
[email protected]

SOURCE Nabsys, Inc.