KALAMAZOO – David A. Esposito has been named President and Chief Executive Officer of Armune BioScience, succeeding the founding and outgoing President and CEO, Eli L. Thomssen, who becomes Chief Business Officer.
Armune also completed the first close on a $2.5 million Series A financing round designed to underwrite the launch of Apifiny, its, non-PSA blood test to aid in the early detection of prostate cancer.
?The company is grateful for the years of service provided by Eli Thomssen in overseeing the development of our technology and capabilities,? said Board Chairman Donald R. Parfet. ?We are excited to have David assume the CEO role at the Company. His extensive experience in the industry will serve our commercialization efforts very well.?
As Chief Business Officer, Thomssen will focus on key business development initiatives and raising additional funding to support the company. Thomssen will work to accelerate progress on key milestones with existing technology partners and to further strengthen relationships with strategic partners to support the company?s long term growth. With more than 40 years of business development experience in the life sciences field, Thomssen will ensure Armune is well positioned to leverage opportunities in a rapidly evolving marketplace. That?s where the new round of funding comes in.
“As Armune prepares to launch Apifiny, it is pleased with the financial support it has attracted and the growing interest from the Urology community in the utility of its prostate cancer risk assessment assay,? said Thomssen.
Esposito joined the company in the role of Chief Operating Officer in early 2014. He brings tremendous commercial experience as a senior executive in both the pharmaceutical and medical diagnostic markets. Over a 15-year career with Merck & Co., Esposito played key roles in sales, marketing and commercial strategy. As the former President and General Manager of Phadia US Inc., a leading specialty medical diagnostics company, he helped drive significant growth in the US market and was a key member of the Phadia leadership team that successfully sold the business to Thermo Fisher Scientific for $3.5 billion in 2011.
Prior to his work in the healthcare marketplace, he graduated from the United States Military Academy at West Point with a BS in Civil Engineering. He is a combat veteran and served as an infantry platoon leader with the 101st Airborne Division and was awarded the Bronze Star Medal during the Persian Gulf War. He also holds a Master of Business Administration from Syracuse University.
