Rosetta Genomics (ROSG) Hires Three New Execs, Expands Commercial Ops

August 20, 2012 9:05 AM EDT
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Rosetta Genomics Ltd. (Nasdaq: ROSG), announced the completion of three executive hires and an expansion of its commercial operations in preparation for expected sales growth of its microRNA diagnostic assays, specifically its flagship product miRview® mets2. The Company recently announced a co-marketing agreement with Precision Therapeutics, Inc. for miRview® mets2, as well as a recent decision by Medicare to reimburse the miRview® mets2 assay.

"In addition to the terrific management hires we are announcing today, we have begun the process of adding sales representatives to our oncology-focused sales team and have already doubled the capacity of our laboratory operations in anticipation of an increase in demand as our miRview® mets2 assay gains further market acceptance," stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. "In addition, we have begun the process of adding to our national accounts management team to work with private payers to increase the number of covered lives for our miRview® mets2 assay.

"With 200,000 patients in the U.S. diagnosed with Cancers of Unknown or Uncertain Primary ("CUP") each year, there is a significant market opportunity for miRview® mets2. Our goal is to articulate our value with this lead product and then leverage that success to advance the commercialization of other products in our portfolio," added Mr. Berlin.

The following individuals recently joined or are soon expected to join the Company's management team:
  • As previously announced, Ron Kalfus joined Rosetta Genomics in May 2012 as Chief Financial Officer, succeeding interim CFO Tomer Assis. Previously Mr. Kalfus served as CFO and Treasurer of MabCure Inc., a publicly traded biotechnology startup company focused on early cancer detection using monoclonal antibodies. Prior to that he was with Toys "R" Us for four years where he was responsible for the company's SEC reporting and later in the financial planning department managing the Toys "R" Us division's annual budget. Mr. Kalfus previously worked in public accounting where he specialized in audits of medium-sized enterprises and public companies. He is a licensed CPA in the State of New Jersey, and holds a Masters in Accounting from Fairleigh Dickinson University and a Bachelor's degree in Finance from the University of Georgia.

  • Guy C. Malchi will join Rosetta Genomics on September 2, 2012, in the newly created position of Executive Vice President of Corporate Development. Most recently he was with Champions Oncology, Inc. where he was General Manager, UK Diagnostic Subsidiary and Head of Pharma Business. At Champions he designed and implemented the drug pipeline strategy and business plan, and signed several licensing deals and strategic partnerships with leading biotechnology firms and academic institutions. Previously he was CEO of Optimata, Ltd., an Israeli biotechnology company that developed and marketed biosimulation predictive software. Mr. Malchi spent seven years at TEFEN Ltd., Management Consulting in London, where he was a Founding Partner and Head of European Life Science Practice. Mr. Malchi holds a B.Sc. in Industrial Engineering from Tel-Aviv University and an Executive MBA from the London Business School. Guy will focus on leading the Company's effort to leverage its microRNA platform in partnerships with pharmaceutical and biotechnology companies, as well as with medical technology and diagnostic companies. In addition he will lead efforts aimed at licensing and/or acquiring new opportunities.

  • Steve Miller joined the Company in June 2012 in the newly created position of Director of Marketing and Reimbursement. Prior to Rosetta Mr. Miller operated his own marketing and reimbursement consultancy business. Previously he spent nine years at Veridex, LLC, a Johnson & Johnson company focused on oncology medical devices and diagnostics, where he was Worldwide Product Director with responsibility for brand P&L, and the development and execution of annual marketing plans. During his last two years with Veridex, Mr. Miller also played a key leadership role in brand reimbursement efforts. Prior to that he was Worldwide Product Director for the Ortho-Clinical Diagnostics blood donor screening franchise. Mr. Miller received a higher technical diploma in Applied Biology from the North East Surrey College of Technology in the UK. Mr. Miller will focus on driving adoption of Rosetta's marketed assays as well as widening the insurance coverage for these assays.

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