SAN DIEGO, Feb. 8, 2012 /PRNewswire/ -- Trovagene, Inc. (Pink Sheets: TROV.PK), a developer of trans-renal molecular diagnostics, today announced that it has closed its acquisition of MultiGEN Diagnostics, Inc.'s clinical laboratory assets. Trovagene previously announced the execution of the Asset Acquisition Agreement on January 6, 2012.
Antonius Schuh, Ph.D. Joins TrovaGene, Inc. As Chief Executive Officer
SAN DIEGO--(BUSINESS WIRE)-- TrovaGene, Inc. (Pink Sheets: TROV.PK), a developer of trans-renal molecular diagnostics, has announced that Antonius Schuh, Ph.D. has been named Chief Executive Officer. Dr. Schuh previously served as Chairman and Chief Executive Officer of Sorrento Therapeutics, Inc. (Pink Sheets: SRNE.PK), a biotechnology company he co-founded based on a proprietary platform to generate very large fully human antibody libraries. Sorrento Therapeutics merged in 2009 with a public company supported by Phillip Frost and the Frost Group.
Dr. Schuh also served as the founding CEO of AviaraDx, Inc., a leading molecular diagnostic innovator in oncology. In 2008, Dr. Schuh led the sale of AviaraDx to bioMerieux, which continues to operate AviaraDx under the name bioTheranostics. Before AviaraDx, Dr. Schuh served as CEO of Arcturus Bioscience, Inc., where he led the sale of Arcturus' life science business to Molecular Devices, Inc. From 2000 to 2005, Dr. Schuh served as the President and Chief Executive Officer of Sequenom, Inc. (Nasdaq: SQNM - News). He had joined Sequenom in 1996 as Managing Dierctor of its European operations, and led during his tenure, amongst others, the commercial launch of the MassARRA® system and numerous business development and corporate acquisition transactions. Dr. Schuh holds a degree in pharmaceutics and earned his Ph.D. in medicinal chemistry from the University of Bonn, Germany.
"We are pleased and fortunate that Dr. Schuh joins us to lead the transition of TrovaGene from a research stage organization to a commercial enterprise," states Dr. Thomas Adams, TrovaGene's Chairman. "The company has made significant efforts to establish the utility of trans-renal nucleic acids in urine as a diagnostic sample in clinical fields as diverse as detection of minimal residual disease in oncology, infectious disease, transplant medicine and prenatal monitoring. Dr. Schuh has a proven track record of building companies and creating value for shareholders. I look forward to working with him."
"I have observed TrovaGene closely over the past years, as I have been intrigued by the attractive opportunities the Company's proprietary trans-renal technologies offer, and I am confident that we can introduce novel diagnostic modalities with significant clinical utility based on this platform," states Dr. Schuh.