Armune BioScience, Inc. Announces Appointment of New President and CEO
COMPLETED FIRST CLOSE ON FINANCING IN PREPARATION FOR LAUNCH OF APIFINY™
KALAMAZOO, MICH. January 12, 2015
David A. Esposito has been named President and Chief Executive Officer of Armune BioScience, Inc. to succeed the founding and outgoing President and CEO, Eli L. Thomssen. The Company also completed the first close on a $2.5 million Series A financing round designed to underwrite the launch of Apifiny™, its innovative, non-PSA blood test to aid in the early detection of prostate cancer.
“As Armune prepares to launch Apifiny, it is pleased with the financial support it has attracted and the growing interest from the Urology community in the utility of its prostate cancer risk assessment assay,” said Thomssen. Board Chairman Donald R. Parfet stated, “The Company is grateful for the years of service provided by Eli Thomssen in overseeing the development of our technology and capabilities.” As part of the transition, Thomssen will now become the Chief Business Officer for the company. Parfet continued, “We are excited to have David assume the CEO role at the Company. His extensive experience in the industry will serve our commercialization efforts very well.”
Esposito joined the company in the role of Chief Operating Officer in early 2014. He brings tremendous commercial experience as a senior executive in both the pharmaceutical and medical diagnostic markets. Over a 15-year career with Merck & Co., Esposito played key roles in sales, marketing and commercial strategy. As the former President and General Manager of Phadia US Inc., a leading specialty medical diagnostics company, he helped drive significant growth in the US market and was a key member of the Phadia leadership team that successfully sold the business to Thermo Fisher Scientific for $3.5 billion in 2011.
Prior to his work in the healthcare marketplace, David graduated from the United States Military Academy at West Point with a BS in Civil Engineering. He is a combat veteran and served as an infantry platoon leader with the 101st Airborne Division and was awarded the Bronze Star Medal during the Persian Gulf War. David also holds a Master of Business Administration from Syracuse University.
As Chief Business Officer, Thomssen will focus on key business development initiatives and raising additional funding to support the company. Thomssen will work to accelerate progress on key milestones with existing technology partners and to further strengthen relationships with strategic partners to support the company’s long term growth. With more than 40 years of business development experience in the life sciences field, Thomssen will ensure Armune is well positioned to leverage opportunities in a rapidly evolving marketplace.
Esposito said, “I want to thank Eli Thomssen for his leadership in preparing for the company’s launch of Apifiny, our first diagnostic assay. We are all grateful for his continued support in his new role during this exciting time for the company. The proprietary technologies of Armune BioScience have significant potential to meet areas of large unmet need in prostate, lung and breast cancer diagnostic and prognostic testing. Our team is ready to execute on the large opportunity for doctors to aid patients in the early detection of prostate cancer.”
Armune BioScience is focused on commercial execution in support of the launch of Apifiny, the brand name of its first diagnostic assay, and raising additional funds to complete the $2.5 million Series A round. The Series A round was led by private investors. Interested investors should contact Eli Thomssen, Chief Business Officer, at firstname.lastname@example.org or by telephone, 269-491-6431.
About Armune BioScience
Armune BioScience, Inc. is a medical diagnostics company formed to develop and commercialize unique proprietary technology exclusively licensed from the University of Michigan for diagnostic and prognostic tests for prostate, lung and breast cancers. The Company was founded by the Apjohn Group, LLC, a business accelerator founded by experienced health care executives that brings together valuable resources of management talent and angel/seed financing, and a group of experienced life science professionals. Armune was incorporated as a Delaware Corporation with corporate headquarters in Kalamazoo, MI and a research and commercial laboratory in Ann Arbor, MI.