Veracyte Announces Appointment of Shelly D. Guyer as Chief Financial Officer

SOUTH SAN FRANCISCO, Calif., April 12, 2013 /PRNewswire/ -- Veracyte, Inc., a molecular diagnostics company pioneering the emerging field of molecular cytology, today announced the appointment of Shelly D. Guyer as chief financial officer.

"We are delighted to welcome Shelly Guyer to the Veracyte team," said Bonnie Anderson, Veracyte's cofounder and chief executive officer. "Her extensive background in the life science and finance industries will be critical as we experience strong growth of our first product, the Afirma® Thyroid FNA Analysis, and as we expand our molecular cytology platform to other clinical areas to similarly help reduce unnecessary surgeries and lower healthcare costs." Ms. Anderson noted that data published in the New England Journal of Medicine suggest that Veracyte's genomic test for improved thyroid cancer diagnosis can potentially help tens of thousands of patients each year in the United States avoid thyroid surgery.

Ms. Guyer previously was chief financial officer and executive vice president of finance and administration at iRhythm Technologies, a private, venture-backed medical device and services company. Prior to that, she served on the management team and as vice president of business development and investor relations at Nuvelo, a public biotechnology company. Ms. Guyer began her business career at J.P. Morgan Securities and its predecessor companies, where for over 17 years she held various positions, including principal and vice president of health care banking for the West Coast, leading financings for a variety of large and small cap life science companies.

"I am pleased to join the talented management team at Veracyte," said Ms. Guyer. "The company's mission of helping patients avoid surgery is compelling. Additionally, with the introduction of its first product, the Afirma Thyroid FNA Analysis, Veracyte has set a new standard for launching a molecular diagnostics product successfully, quickly and cost-efficiently. I look forward to helping the company build on its success to date."

About the Afirma Thyroid FNA Analysis

Veracyte's Afirma Thyroid FNA Analysis is designed to improve thyroid nodule diagnosis. This novel solution combines expert cytopathology assessment of thyroid nodule fine needle aspiration (FNA) samples with the company's Afirma Gene Expression Classifier, a genomic test used to clarify inconclusive results as benign or suspicious for cancer, and thus help patients avoid unnecessary surgery if their nodules are actually benign. The Afirma test is the only molecular test clinically validated in prospective, multicenter, double-blinded trials to meet the criteria of National Comprehensive Cancer Network (NCCN) guidelines for safely monitoring thyroid nodules in lieu of diagnostic surgery. The test is covered for Medicare and other insured patients and is available throughout the U.S. through a global co-promotion partnership with Genzyme, a Sanofi company.

Thyroid cancer is the fastest-increasing cancer in the U.S., with over 60,000 new cases expected in 2013, according to the American Cancer Society. Among the approximately 450,000 thyroid nodule FNAs performed each year in the U.S. to rule out cancer, 15-30% of the results are inconclusive, and most physicians recommend thyroid surgery for final diagnosis. Following surgery, however, 70-80% of patients' nodules are diagnosed as benign. These surgeries are invasive, expensive, and typically result in lifelong thyroid hormone replacement therapy for the patient.

About Veracyte

Veracyte, Inc., based in South San Francisco, Calif., is a privately held molecular diagnostics company pioneering the emerging field of molecular cytology. The company discovers, develops and commercializes molecular diagnostic solutions that enable physicians to make more informed treatment decisions early, thus helping patients avoid unnecessary invasive procedures while reducing healthcare costs. Veracyte's first product – the Afirma® Thyroid FNA Analysis – combines specialized cytopathology assessment with the Afirma Gene Expression Classifier, a genomic test that clarifies inconclusive thyroid nodule results as benign or suspicious for cancer. The company has formed a global co-promotion partnership with Genzyme, a Sanofi company, to make the Afirma Thyroid FNA Analysis available throughout the U.S. and, subsequently, globally. Veracyte is currently in the early biomarker discovery phase for lung cancer and interstitial lung diseases. Veracyte is funded by Domain Associates, Kleiner Perkins Caufield & Byers, TPG Biotech and Versant Ventures. For more information, visit www.veracyte.com.

Veracyte and Afirma are registered trademarks of Veracyte, Inc. All rights reserved.

SOURCE Veracyte, Inc.