Foundation Medicine Appoints Kevin Krenitsky, M.D., as Chief Operating Officer

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Foundation Medicine, Inc., a cancer diagnostics company that aims to bring comprehensive cancer genome analysis to routine care, today announced that Kevin Krenitsky, M.D., has been appointed chief operating officer. In this role, Dr. Krenitsky will lead Foundation Medicine’s internal operations and commercialization plans for the company’s comprehensive cancer diagnostic test.

“I am very pleased to welcome Kevin to the Foundation Medicine team,” said Michael J. Pellini, M.D., president and chief executive officer of Foundation Medicine. “Kevin’s proven track record of leading several successful commercial diagnostic labs will be invaluable as we prepare for CLIA certification later this year and a national launch in 2012. Our team will benefit greatly from his experience in the development and commercialization of several molecular assays as well as his experience in building and managing key alliances. Kevin’s addition to the team represents another important milestone for Foundation Medicine as we build our network of strategic partners that share in our vision of a transformation in cancer care driven by a deep understanding of the molecular drivers of the disease.”

Dr. Krenitsky brings to Foundation Medicine 15 years of experience in building and managing global diagnostic and biotechnology operations. He joins the company from Enzo Clinical Labs (NYSE: ENZ) where he served as president. In this role, he instituted a comprehensive operational plan that resulted in re-accreditation by the College of American Pathologists and led the introduction of numerous U.S. FDA-approved esoteric tests as well as several new laboratory developed test rollouts, all of which led to significant revenue growth during his tenure. Prior to Enzo Clinical Labs, he was chief executive officer at BioServe Biotechnologies, a global biotechnology company specializing in processing genetic diagnostic tests, and before that, he served as chief executive officer at Parkway Clinical Laboratories, a clinical diagnostic lab providing comprehensive routine and esoteric testing. Before joining Parkway Clinical Laboratories, Dr. Krenitsky held multiple senior level positions within Genomics Collaborative, Inc. (a SeraCare Life Sciences Company, NASDAQ: SRLS), a full-scale clinical and genomics research company. Dr. Krenitsky received a B.S. in business management from the University of Scranton and an M.D. from Jefferson Medical College.

“Foundation Medicine is uniquely poised to enable a transformation in the way cancer patients are treated by capturing relevant genomic information needed to inform treatment recommendations in one comprehensive test,” commented Dr. Krenitsky. “I am thrilled to join the stellar management team and world-renowned founding scientific advisors at Foundation Medicine who are working together to enable improved outcomes for cancer patients. We believe that Foundation Medicine’s test will offer our partners and physicians a valuable decision-making tool to help guide therapeutic decision-making and help treating physicians to direct their patients to clinical trials with agents targeting the molecular subtype of their cancer.”

This appointment follows the recent announcement that Dr. Pellini has become president and CEO of Foundation Medicine. Earlier this month in a poster session at the 47th Annual Meeting of the American Society of Clinical Oncology (ASCO), the company presented data highlighting its progress toward the development of a next-generation sequencing-based test to detect cancer-associated mutations in routine cancer tissue samples.

About Foundation Medicine

Foundation Medicine is dedicated to the development of a comprehensive diagnostic test that improves cancer care by helping physicians personalize treatment for their patients. Foundation Medicine’s laboratory test is being designed to accommodate a broad landscape of cancer genome information and a growing repertoire of more targeted treatments and clinical research opportunities. Foundation Medicine’s test will assist physicians to make prompt and informed determinations about the best cancer treatments and clinical trial options for each patient, taking into account each patient’s unique cancer-associated alterations alongside publicly available scientific and medical information. The company’s founding advisors are world leaders in genome technology, cancer biology and medical oncology; they, alongside clinicians, biotech and molecular diagnostics industry leaders, are working to harness emerging technologies to develop unparalleled tests that will identify and interpret an ever-growing set of actionable genomic alterations, truly enabling personalized cancer medicine. For more information, please visit the company’s website at www.foundationmedicine.com.

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Foundation Medicine Contact: Lee-Ann Murphy, 617-245-3077
pr@foundationmedicine.com

Source: Foundation Medicine