Molecular diagnostics veterans Conroy, Arora to assume new roles
April 2
EXACT Sciences Corp. (NASDAQ: EXAS) today announced that the company’s
board of directors has appointed Kevin T. Conroy as president and chief
executive, and Maneesh K. Arora as senior vice president and chief
financial officer, effective April 2, 2009. Mr. Conroy is joining the
company’s board of directors immediately.
Both Mr. Conroy, 43, and Mr. Arora, 40, bring significant experience
with molecular diagnostics and managing complex clinical trials to their
new roles at EXACT. They were most recently president and chief
executive, and chief financial officer, respectively, of Third Wave
Technologies Inc. Third Wave, a NASDAQ-traded molecular diagnostics
company, was acquired last year by Hologic Inc. for $582 million.
During Mr. Conroy’s tenure as chief executive of Third Wave, he oversaw
the development of two human papillomavirus (HPV) molecular diagnostic
tests, including their successful clinical trial. The prospective study
of two cancer screening products was one of the largest diagnostic
trials ever conducted in the United States, with almost 90 sites. Both
of the Third-Wave-developed HPV tests received U.S. Food and Drug
Administration (FDA) approval last week. Mr. Conroy also led Third Wave
through the successful clinical trial of its InPlex cystic fibrosis
test, which received FDA clearance in March 2008.
“Kevin and Maneesh have a proven track record of creating outstanding
customer and shareholder value by setting clear corporate priorities and
then delivering on them,” said Patrick J. Zenner, chairman of EXACT’s
board of directors. “Their unique experience with the development of
complex molecular diagnostic products and successful management of both
clinical and regulatory programs is precisely what EXACT needs at this
stage in the company’s development. We are delighted to welcome Kevin
and Maneesh to EXACT’s management team.”
Mr. Conroy was appointed president and chief executive of Third Wave in
December 2005, and served in that position until the company’s
acquisition by Hologic in July 2008. He joined Third Wave in July 2004
and served as the company’s general counsel until December 2005. Prior
to joining Third Wave, Mr. Conroy served as intellectual property
counsel at GE Healthcare. Before joining GE Healthcare, Mr. Conroy was
chief operating officer of two early-stage, venture-backed technology
companies in Northern California. Prior to those positions, he was an
intellectual property litigator at two Chicago law firms, McDermott
Will & Emery, and Pattishall, McAuliffe, Newbury, Hilliard and
Geraldson, where he was a partner.
