THUNDER BAY, Ontario, July 12, 2010 - Mitomics, world leader in research and development of mitochondrial genome-based products to improve clinical insight and therapeutic decisions, today announced that its shareholders have voted to change the company name from Genesis Genomics Inc. to Mitomics Inc., effective immediately. The change is being implemented as the company begins commercialization of the Prostate Core Mitomic Test(TM) based on its Mitomic Technology(TM) platform in the United States this year.
Mitomics also announced today two key additions to its management team, appointing Jason Dulude to chief financial officer, and Chris Merritt to the newly created role of vice president, sales and marketing. In addition, the company has appointed three new members to its Board of Directors, including Vijay Aggarwal, chief executive officer, Vaxigenix and managing partner, Channel Group; Kenneth P. Fallon, III, chairman, Osteotech, Inc.; and Jim LaFrance, president and chief executive officer, LaFrance Consulting LLC.
"We are extremely pleased to announce these strategic additions to our management team and board of directors, especially as we anticipate launching our mitochondrial-focused molecular diagnostic test for prostate cancer," said Robert Poulter, president and chief executive officer, Mitomics. "Mr. Merritt's appointment as vice president of sales and marketing signifies Mitomics' forward progress in implementing our commercialization plans and growth strategy, while Mr. Dulude brings years of financial experience that will be critical to Mitomics' future success."
Mr. Dulude is a chartered accountant with a strong analytical background that includes diverse work experience in audit, taxation, economic and financial analysis, financial and management accounting, and operations management. Previously, he held positions with KPMG and Grant Thornton LLP. Mr. Merritt brings to Mitomics nearly a decade of experience in medical device sales. Most recently, he was vice president of sales and customer care at Timm Medical Technologies, Inc., where he was responsible for four sales managers and 33 specialty urology sales professionals, as well as revenue and expense budgeting. Mr. Merritt has extensive experience in new product pilot and launch, sales force expansion and employee development.
"Mitomics is a pioneer and world leader in the research and development of mitochondrial genome-based products, and we believe the Mitomic Technology platform has the potential to change approaches to screening, diagnosis and management of cancer and other disease states," said Mr. Merritt. "I am looking forward to working closely with the rest of the management team to establish a commercial presence that will maximize the value and adoption of the suite of Mitomic Tests we will be bringing to market in the coming months."
Mitomics has developed a portfolio of molecular tests using its proprietary Mitomic Technology for the detection of specific mitochondrial genome mutations and rearrangements. The company unveiled its Prostate Core Mitomic Test at the American Urological Association (AUA) 2010 Annual Meeting earlier this month in San Francisco, Calif.
Mitomics (formerly Genesis Genomics Inc.) is the world leader in the research and development of mtDNA based biomarkers -- a new and innovative approach to screening, diagnosis and management of cancer and other disease states. Leveraging its unparalleled insights into the role of mitochondria in cancer, the company is developing an extensive and proprietary portfolio of molecular tests addressing significant unmet needs in oncology and gynecology, including those related to prostate, breast, lung, colorectal, ovarian, endometrial, cervical, bladder, testicular, and skin cancers, as well as endometriosis. In addition to its Prostate Core Mitomic Test(TM), Mitomics plans to launch several other breakthrough molecular tests based on its Mitomic Technology(TM) over the next two years. The company is headquartered in Thunder Bay, Ontario, Canada. For more information, please visit www.mitomicsinc.com.