SOURCE: diaDexus, Inc.

Diadexus, Inc.

July 07, 2015 09:15 ET

Diadexus, Inc. Names William Hammond as Vice President of Sales

SOUTH SAN FRANCISCO, CA--(Marketwired - Jul 7, 2015) - Diadexus, Inc. (OTCQB: DDXS), a diagnostics company developing and commercializing products that aid in the prediction of cardiac disease risk, today announced that William Harrison Hammond (Hodi) has joined the Company as Vice President of Sales effective June 22, 2015. Mr. Hammond brings more than 30 years of experience in the medical diagnostics field, including 13 years in various senior and executive roles at Alere and 11 years at Abbott Diagnostics.

"Hodi brings extensive experience in sales and commercial strategy within the diagnostic market, with a deep understanding of the commercial channels," said Lori Rafield, Ph.D., chairman and chief executive officer for Diadexus. "His experience in developing relationships with accountable care organizations and integrated delivery networks will be invaluable as we execute our commercial strategy for our PLAC® ELISA and Activity portfolio of products and advance development of our initial heart failure diagnostic biomarker for measuring proADM."

"Diadexus is expanding into the larger hospital market for its PLAC® Activity Test while advancing proADM toward the market," said Mr. Hammond. "I look forward to working with the Diadexus team to maximize the commercial potential of the PLAC® franchise and prepare for the launch of our first heart failure diagnostic tests."

Most recently, Mr. Hammond was Vice President, Strategic Alliances at Sotera Wireless, an innovator in vital signs monitoring and remote patient surveillance, where he led the effort for contracting health systems, the federal government, and group purchasing organizations. Mr. Hammond previously served as Vice President, Accountable Care Group, at Alere, Inc., where he started and directed the company's efforts to sell all of Alere's diverse products including healthcare technology, POC diagnostics, and home health services designed to manage CHF patients to reduce unnecessary readmissions. Prior positions at Alere include Vice President Sales, Physicians Diagnostics Group, and Vice President, National Accounts. He came to Alere through their acquisition of Biosite where he played a pivotal role in sales and national accounts leadership in developing their POC business. Mr. Hammond previously held sales management positions at Roche Diagnostics, Precision Analytical Laboratories and Abbott Diagnostics. Mr. Hammond holds a B.A. in Economics from Bucknell University.

About Diadexus, Inc.

Diadexus, based in South San Francisco, California, is a diagnostics company developing and commercializing products that aid in the prediction of cardiac disease risk, providing healthcare providers with actionable information for managing patients. The Company pioneered the testing of Lp-PLA2 (lipoprotein-associated phospholipase A2), a marker of vascular-specific inflammation that provides new information, over and above traditional risk factors measured in a lipid panel, and has over a decade of peer-reviewed literature validating its utility. Diadexus' products, The PLAC® Test ELISA Kit, first cleared by the FDA in 2003, and The PLAC® Test for Lp-PLA2 Activity, cleared in December 2014, are the only two FDA-cleared tests to measure Lp-PLA2.

The Company also has a pipeline of biomarkers for heart failure, proADM, proET-1 and proANP, with each providing distinct, additive information for healthcare providers over currently available markers. Diadexus also provides services to pharmaceutical partners to address the need to incorporate biomarkers in clinical development. For more information, please visit the Company's website at www.diadexus.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward-looking statements," including statements regarding, among other things, the impact and the timing of the reverse stock split on the company's business, prospects and/or stock price. Forward-looking statements are based on current expectations and assumptions and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. Important factors known to us that could cause actual results to differ materially from those expressed in such forward-looking statements include the factors necessary to achieve our revenue guidance; sales of our PLAC® Test products in the marketplace; our ability to grow revenues from existing and new customers; product pricing and demand with a concentrated customer base; the continued focus of regulatory agencies and payors on costs and our laboratory customer practices; relationships with key customers; our ability to continue to build our heart failure franchise; our ability to identify and build products with additional biomarkers; third party payors' acceptance of and reimbursement for the PLAC® Tests; our ability to continue to manufacture the PLAC® Tests to meet customer demand; the potential for success of and timing of when our development efforts may be completed; the adequacy of our intellectual property rights and our ability to maintain a proprietary position for our lead product; our limited revenue and cash resources; our significant corporate expenses, including real estate lease liabilities and expenses associated with being a public company; our ability to develop proADM for regulatory submission, and our ability to successfully integrate our new management leadership. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our most recent annual report on Form 10-K, quarterly report on Form 10-Q, and other reports filed with the Securities and Exchange Commission, and available at the SEC's web site at www.sec.gov. The information set forth herein speaks only as of the date hereof, and except as required by law, we disclaim any intention and does not assume any obligation to update or revise any forward looking statement, whether as a result of new information, future events or otherwise.

Contact Information

  • Investor Contact:
    Melissa Forst
    Argot Partners
    212-600-1902
    Email Contact