RUTHERFORD, N.J. and HYDERABAD, India, Dec. 16, 2014 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq:CGIX) ("CGI" or "the Company"), an emerging leader in DNA-based cancer diagnostics, announced today the addition of Venkatadri Bobba to Cancer Genetics India's Board of Directors.
"Mr Bobba has a tremendous track record of leadership in the life sciences. His experiences and insights will bring significant value to CG India's board of directors," said Panna Sharma, CEO and President of Cancer Genetics, Inc.
Bobba brings with him more than 36 years of corporate leadership experience in the pharmaceutical and life sciences industries. Bobba, who is currently a General Partner with Ventureast, has held executive leadership positions at a number of life sciences companies in the US, EU, and Asia. Prior to joining Ventureast, Bobba served as Senior Vice President of Operations at Aradigm Corporation and from 2001-2003 was Executive Vice President at Diosynth, a division of Akzo Nobel. From 1995 to 2000, Bobba served as President and CEO at Molecular Biosystems, an NYSE listed company. Previous to that, Bobba was Executive Vice President of Centocor Inc (now Jansen Biotech, a division of Johnson & Johnson) and held several executive positions, including President, at Warner-Lambert, Indonesia. He also previously served as V.P. of Manufacturing at Parke-Davis, USA (now part of Pfizer).
"It is an exciting time to be part of such a high-growth market like India. I look forward to the growth and much needed innovation that CG India will bring to Indian cancer patients and hospitals at an affordable price," said Bobba. "CG India has established itself as a leader in the oncology diagnostics market with a firm commitment to innovation. I look forward to helping the company offer novel cancer diagnostic tests to all patients who need them to improve their clinical outcomes."
Bobba is an active board member of three US-based companies, including Diabetomics Inc., Melior Pharma, and Sparsha Inc. Bobba also sits on the board of several Indian-based companies, including Portea, Richcore, and Sparsha Pharma, an Indian subsidiary of Napo Pharmaceuticals. Additionally, he serves on the advisory board for the SOHO Group, the largest pharmaceutical company in Indonesia, and for Cumberland Pharmaceuticals, Inc., USA, a Nasdaq listed company.
A pharmacist by training, Bobba graduated with gold medal honors from Andhra University and holds an MBA from Farleigh Dickinson University, New Jersey.
About Cancer Genetics
Cancer Genetics Inc. is an emerging leader in DNA-based cancer diagnostics, servicing some of the most prestigious medical institutions in the world. Our tests target cancers that are difficult to diagnose and predict treatment outcomes. These cancers include hematological, urogenital and HPV-associated cancers. We also offer a comprehensive range of non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals, as well as biopharma and biotech companies. Our state-of-the-art reference labs are focused entirely on maintaining clinical excellence and are both CLIA certified and CAP accredited and have licensure from several states including New York State. We have established strong research collaborations with major cancer centers such as Memorial Sloan-Kettering, The Cleveland Clinic, Mayo Clinic and the National Cancer Institute.
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Forward Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development and potential opportunities for Cancer Genetics, Inc. products and services, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to, statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, risks that the transaction will not close or, if it closes, will not realize the currently anticipated benefits, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Company's Form 10-K for the year ended December 31, 2013 and 10-Q for the quarter ended September 30, 2014 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics disclaims any obligation to update these forward-looking statements.
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