RandyW Posted August 1, 2006 Share Posted August 1, 2006 DiagnoCure Names U.S. Diagnostic Specialist President Tuesday August 1, 8:19 am ET Ticker Symbol: CUR QUEBEC CITY, Aug. 1 /PRNewswire-FirstCall/ - DiagnoCure, (TSX: CUR - News) has appointed a leading U.S. executive, with extensive experience in the field of gene-based diagnostics, to realize the company's substantial potential, Chairman Paul Gobeil announced today. ADVERTISEMENT DiagnoCure, a leading developer and provider of innovative high-value cell-based assays and molecular diagnostics for the early detection of cancers, named John C. Schafer President and Chief Executive Officer, to become effective on August 23, 2006. "Mr. Schafer brings us more than 30 years experience in the field of diagnostics, along with an excellent track record in management and growth of high technology diagnostics companies. He has the credentials, the knowledge and the demonstrated ability to realize our significant potential in prostate cancer diagnostics and to broaden our base in the field of diagnostics with emerging technologies," Mr. Gobeil said. Mr. Schafer will be located at the company's head office in Quebec City. "DiagnoCure is an exceptional find for me," Mr. Schafer said. "The PCA3 marker is the undisputed leading technology in prostate cancer diagnostics and, working with our partner, Gen-Probe, I am looking forward to delivering the full potential of that technology to our shareholders over the medium term. I am equally excited about the undiscovered diagnostic and therapeutic potential of molecular markers combined with the skills sets and demonstrated expertise of DiagnoCure's people in taking this technology from theory to practice in the battle against cancer," he said. Specifically Mr. Schafer expressed confidence in DiagnoCure's productive relationship with Gen-Probe and their recent joint announcements. "In addition to PCA3 now being available in the U.S., with royalties starting to flow to DiagnoCure this coming quarter, and the pending launch of PCA3 in Europe later this year, DiagnoCure also entered into a funded collaboration with Gen-Probe to evaluate the diagnostic utility of certain molecular markers for lung cancer, all very positive events on the road to success" said Mr. Schafer. Mr. Schafer succeeds retiring President Pierre Desy, "whose exceptional contribution to this organization has left it in a technologically and financially superior position to move ahead. Under Mr. Desy's leadership, our company has achieved its stated objectives in a timely and efficient manner. We have the leading technology in prostate cancer diagnostics with dynamic market potential worldwide; we have a strong cash position, and we have the people and the leadership to become a major force in cancer diagnostics," Mr. Gobeil said. Most recently, American-born Mr. Schafer, led a Montreal based biosensor company with target applications in biodefense, medical diagnostics and immunodiagnostics. As President and CEO of Boston Medical Technologies, he led the introduction of an important new standard in cardiac diagnostics. In his career at Baxter International, Mr. Schafer managed the company's diagnostics division specialising in enzyme immunoassays for the diagnosis of viral infections worldwide. He also started a new division, which achieved a $250 million valuation in two years. Mr. Schafer sits on the boards of two other life sciences start-ups and has received numerous awards as a leading biotech entrepreneur. About DiagnoCure DiagnoCure specializes in the development, production and commercialization of diagnostic tests for the early detection of cancers. DiagnoCure's first product, ImmunoCyt /uCyt+, is an important tool for the diagnosis and monitoring of bladder cancer. In 2003, the Company completed the development of uPM3, its first test for the early detection of prostate cancer, and granted an exclusive worldwide license for the use of the PCA3 technology in prostate cancer diagnosis to Gen-Probe. DiagnoCure is now exploring additional applications for the early detection of lung cancer. DiagnoCure is headquartered in Quebec City, Canada. For more information, go to www.diagnocure.com. Forward-looking statements This release contains forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may cause actual results to differ materially from those expected. By their very nature, forward-looking statements are based on expectations and hypothesis and also involve risks and uncertainties, known and unknown, many of which are beyond DiagnoCure's control. As a result, investors are cautioned not to place undue reliance on these forward- looking statements. The forward-looking statements regarding the outcome of research and development projects and future revenues are based on management expectations. In addition, the reader is referred to the applicable general risks and uncertainties described in DiagnoCure's most recent Annual Information Form under heading "Risk Factors". DiagnoCure undertakes no obligation to publicly update or revise any forward-looking statements contained herein. -------------------------------------------------------------------------------- Source: DIAGNOCURE INC. Quote Link to comment Share on other sites More sharing options...
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