CAMBRIDGE, Mass., June 10, 2002 (PRIMEZONE) -- Genomic Profiling Systems, Inc. (GPS), a developer of rapid microbial tests for the industrial microbiology market, today announced that William P. Moffitt, President and Chief Executive Officer of i-STAT Corporation, a medical diagnostics company that develops, manufacturers, and markets leading blood analysis products for the point-of-care market, has been elected to its Board of Directors.
With nearly 30 years experience in the diagnostics market, Mr. Moffitt has successfully brought i-STAT from a research and development stage company to the leading position in the point-of-care blood analysis market. Mr. Moffitt brings to GPS's board substantial expertise and experience in corporate governance, strategic business development, and the commercialization of innovative diagnostic products and systems.
Bob Linke, President & CEO of GPS, commented: "We are delighted that Mr. Moffitt has decided to join our Board. He will add significant value to GPS with his keen understanding of product development issues unique to the diagnostics market. Bill will help us anticipate and overcome the hurdles that early stage companies inevitably face as evidenced by his successful track record in commercializing diagnostics products.
"Bill is a remarkable addition to GPS," noted Don Straus, PhD, Founder and Chief Science Officer of GPS. "He brings a combination of extensive and relevant experience, a broad and informed vision of the industry, a talent for nurturing early-stage companies, and a vast network of industry contacts. These factors, and Bill's enthusiasm for our diagnostic technology, will be significant assets in navigating the sea of exciting commercial opportunities and maximizing the probability of GPS's long-term success."
"GPS has developed a suite of technologies that will alter the entire business process of its customers," said Mr. Moffitt, GPS's new Board Member. "By using GPS's rapid ultra-sensitive microbial detection products, industrial companies will be able to reduce inventory costs and improve manufacturing efficiencies. GPS's focus on the application of its technology to meet the key business objectives of its target customer base is fundamental to long-term success and rapid business growth. I am pleased to be able to work with GPS at such an exciting and critical point in the development of its business."
Prior to joining i-STAT, Mr. Moffitt served as President of the Physician Diagnostic Division of Baxter Healthcare Corporation and, prior to that, was Vice President of the Scientific Products Division of American Hospital Supply Corporation, later acquired by Baxter.
About Genomic Profiling Systems, Inc.
Genomic Profiling Systems, Inc. (GPS), based in Cambridge, Massachusetts, is a diagnostics company that is addressing significant unmet needs for rapid microbial analysis in the industrial microbiology market. GPS has developed a suite of proprietary Direct Imaging(tm) technologies for detecting and identifying microscopic targets (e.g., bacteria, viruses, proteins, and DNA) based on large-area digital imaging. GPS's technologies enable commercialization of tests that capture ambitious specifications (e.g., ultra-sensitivity and quantification) but are simple, cost-effective, and user-friendly. The Company's first products target the rapid testing needs of pharmaceutical, food and beverage companies and should result in significant reductions in inventory costs and substantial improvements in manufacturing efficiencies. GPS's pipeline of future products targets the need for ultra-sensitive, rapid point-of-care tests that detect multiple disease-causing agents in industrial microbiology and healthcare.