Posted: December 18, 2009

BioNanomatrix Board Chairman Erickson Named President, CEO, as Genomic Analysis Technology Company Prepares for Market Entry

(Nanowerk News) The board of directors of BioNanomatrix, Inc., a developer of breakthrough single-molecule genomic analysis technology, has elected Edward L. Erickson company president and chief executive officer.
Erickson, who was executive chairman of the board, succeeds Michael Boyce-Jacino, who has stepped down as president and CEO and from the board. Battelle Ventures General Partner Tracy Warren succeeds Erickson as chairperson.
“As the company rapidly approaches commercialization of its NanoAnalyzer® system in the coming year, initially for advanced DNA analysis,” said Warren, “the board has implemented these changes to prepare for late-stage product testing at major research institutions and for market introduction thereafter.
“Mike’s scientific expertise helped guide the company through its initial venture funding and early product development,” she continued, “and now Ed has taken the reins, to directly apply his extensive experience in the development and commercialization of life science research products, diagnostic platforms and other medical products.”
Noting that Erickson has served as president, CEO or a director of more than a dozen life-science-based companies, three of which successfully completed IPOs under his leadership,. Warren added that he has been on the BioNanomatrix board since the company’s first venture financing.
“As the company moves into the commercial phase of its development, we’re confident that under Ed’s leadership BioNanomatrix will successfully advance through the critical steps necessary to achieve significant market acceptance and adoption,” she said.
About Edward L. Erickson
Most recently, Edward L. Erickson has been a consultant to entrepreneurial companies and venture capital firms. He has extensive experience in the life science industries having served as president, CEO or a director of over a dozen such companies, four of which successfully completed IPOs during his tenure, including three as CEO. He has raised some $500,000,000 in equity and debt capital in the private and public capital markets.
His current directorships include:
– Metabolon, Inc., a diagnostic products and analytical services company offering the industry's leading biochemical profiling platform for the discovery of biomarkers and pathways associated with drug action and disease;
– Molecular Biometrics, Inc., a diagnostics company developing analytical methodologies and products for diagnosis and monitoring applications – initially focusing on in vitro fertilization
Erickson earned B.S. and M.S. degrees in mathematics from the Illinois Institute of Technology. He received an MBA with high distinction in general management from Harvard Business School, where he was elected a George F. Baker Scholar and was awarded the John L. Loeb Fellowship in finance. In 2004 he was the recipient of Small Times magazine’s “Best of Small Tech: Business Leader” Award in nanotechnology.
About BioNanomatrix
BioNanomatrix is developing breakthrough nanotechnology-enabled genome analysis systems for applications in life science research, molecular diagnostics and personalized medicine. The company’s platform technology permits users to image directly and analyze very long strands of DNA in real time at the single-molecule level, at both high resolution and very high throughputs. This technology has the potential to increase the utility of whole genome imaging and analysis for a wide range of research and diagnostic applications, providing fast, comprehensive and low-cost analysis of genomic, epigenomic and proteomic information. BioNanomatrix’s technologies are licensed exclusively from Princeton University. Founded in 2003, the company is headquartered in Philadelphia, Pa., and is backed by Battelle Ventures, Ben Franklin Technology Partners of Southeastern Pennsylvania and KT Venture Group and other institutional and private investors.
Source: BioNanomatrix (press release)
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