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FOR IMMEDIATE RELEASE
Contact:
Jim Parina
724-935-7029
jparina@expressionanalysis.com
Expression Analysis Selects New CEO
Durham, N.C. (Feb. 27, 2003) - Expression Analysis (EA), a full-service microarray genetics testing and analysis organization, has named Steve McPhail, a long-standing business executive in North Carolina's biotech community, as the company's new chief executive officer.
McPhail replaces Donald A. Holzworth, president and CEO of Analytical Sciences, Inc., (ASI) who had been serving as EA's interim CEO, since Sept. 2001 when ASI began incubating the company. Holzworth will now serve as chairman of the board for EA, which reached more than $1.8 million in sales in 2002, its first full year of operations. The company is projected to achieve $4 million in revenue in 2003.
"As planned, my tenure as part-time CEO of EA was to end, once the company had achieved a sound financial footing and a solid, growing customer base," said Holzworth. "It was apparent last quarter that the time to seek and hire a full-time CEO had come.
"Selecting Steve McPhail as CEO completes what has been an outstanding year for EA," added Holzworth, who played a key role in selecting his successor. "Last January, EA was a 60-day-old biotech start-up; today the company has grown to a cash-positive, recognizable industry leader. As we look to the future, it is important that EA has a leader with outstanding credentials and expertise in the genomics testing market. Steve certainly meets those criteria, and I look forward to working with him to continue EA's successes."
McPhail, who has spent the past 22 years serving companies in the diagnostic, biotechnology and medical device markets, also envisions more growth for EA.
"My vision for EA's future parallels the industry's direction," he said. "Our goal is to use EA's position as the leader in microarray processing and statistical data analysis to take advantage of significant new market opportunities. We will support organizations using this technology in both drug discovery and development applications. I am delighted to be a part of this organization and welcome the opportunity to lead it down a continued path of success."
Prior to joining EA, McPhail served as executive vice president and chief operating officer of ArgoMed, Inc., a Cary, N.C.-based medical device manufacturer, which served a $3 billion urology market. McPhail developed and implemented all company and product branding strategies. From 2000 to 2001, he increased total company revenue by more than 400 percent. In addition, he completed the sale of ArgoMed to ACMI Corp. in December 2002.
Before his association with ArgoMed, McPhail held senior-level sales, marketing and business development positions for Xanthon, TriPath Imaging, Dynex Technologies and Abbott Laboratories. McPhail also has extensive experience in executing mergers and acquisitions, developing and implementing strategic marketing plans, and in establishing global customer and distribution networks. He holds a B.S. in Biology from San Diego State University.
"Steve not only has the expertise to take EA to the next level, but he also has an energy and professionalism that will permeate throughout the organization," said Steven Casey, EA's founder and chief operating officer. "I applaud Don's efforts in supporting EA during its beginning stage. His choice in a successor exemplifies his commitment to the success of our organization."
Over the past year, EA has grown to nine employees with more than 60 international customers in the microarray genetics testing market. Among its key clients are Schering-Plough Corp., Repligen Corp., ISU Chemical and Duke University. The company is based in Durham and continues to grow with infrastructure support from ASI.
About Expression Analysis
Expression Analysis, Inc., (EA) (www.expressionanalysis.com) is a full-service microarray genomics testing and analysis organization dedicated to providing clients with the highest quality genomic processing and data analysis services using Affymetrix GeneChip® brand technology. In 2004, EA became the first microarray services facility, worldwide, to provide GLP-compliant services. EA is a U.S.-based authorized service provider for Affymetrix (www.affymetrix.com), a California-based company that develops and commercializes systems to help researchers explore the relationship between genes and human health.
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