Advertisement
Mr. Kay is a former President, CEO and Director of Quidel Corporation, aleading global company in the discovery, development, manufacturing andmarketing of rapid diagnostic solutions at the point-of-care (POC) ininfectious diseases and reproductive health. During his tenure he designed andmanaged a strategy responsible for building and sustaining unprecedentedmarket leadership of rapid influenza testing (from an approximately 2 percentto 49 percent market share). He was also responsible for significantlyimproving the financial performance of the company during his tenure. Sinceleaving Quidel in 2004, Mr. Kay served as an executive advisor to themanagement and boards of several early stage companies, mainly in the SanFrancisco and San Diego areas. He also served as an executive advisor to oneof the US's most successful blue-chip healthcare/life sciences venture capitalfunds, Kleiner Perkins Caufield and Byers.
Advertisement
"We are very excited to have attracted such an experienced, provenexecutive to lead Response Biomedical," said Dr. Richard Bastiani, Chairman."Wayne has a wealth of experience in the diagnostics industry, andparticularly in POC, and has a proven acumen for building strong teams andexecuting on strategy. He led Quidel through a strong expansion phase in theirhistory and his many years experience will be invaluable to lead the Company,as we begin our expected rapid growth phase."
"I am very pleased to be joining Response Biomedical at this exciting timein the evolution of the Company," said Mr. Kay. "With partnerships in placewith Shionogi & Co. Ltd. and 3M Company, we are poised for strong growth. Ilook forward to leading the execution of our cardiovascular partneringstrategy, as well as the scale-up in manufacturing, the launch of the newRAMP(R) Reader and the regulatory approval of three products, all anticipatedin the next few quarters. These are the building blocks which I believe willsignificantly enhance shareholder value."
Dr. Bastiani continued, "On behalf of the Board of Directors, I'd alsolike to take this opportunity to thank Bill Radvak for his many years ofdedicated service to the Company."
As part of Mr. Kay's compensation package, he has been granted options toacquire 1,500,000 common shares of the Company, subject to vestingrequirements. The options are exercisable at a price of $1.07 per commonshare.
About Response Biomedical
Response Biomedical develops, manufactures and markets rapid on-sitediagnostic tests for use with its portable RAMP Platform for clinical andenvironmental applications. RAMP represents a new paradigm in diagnostics thatprovides high sensitivity and reliable information in minutes. It isideally suited to both point-of-care testing and laboratory use. The RAMPsystem consists of a portable fluorescent reader and single-use disposabletest cartridges, and has the potential to be adapted to more than 250 medicaland non-medical tests currently performed in laboratories. RAMP clinical testsare commercially available for the early detection of heart attack andcongestive heart failure.
In late 2006, the Company formed a strategic alliance with 3M Company tocommercialize rapid infectious disease tests. In the non-clinical market, RAMPTests are currently provided for the environmental detection of West NileVirus, and Biodefense applications including the rapid on-site detection ofanthrax, smallpox, ricin and botulinum toxin. Several other productapplications are under development. The Company has achieved CE Marking andits Quality Management System is registered to ISO 13485: 2003 and ISO 9001:2000.
Response Biomedica
