– USA, MN – Ativa Medical, developer of the world’s first diagnostic micro lab to help clinicians make immediate treatment decisions, today announced that longtime biotechnology industry executive Mark N.K. Bagnall has joined its board of directors.
Bagnall, currently COO of Naia Pharmaceuticals, has served as CEO, CFO and audit committee chair of several public and private biotech companies in his 25-year career. As president and CEO of GenturaDx, a Chinese/American molecular diagnostics company, he successfully managed the turnaround and sale of the company to Luminex in 2012.
Previously, Bagnall was CFO of Metabolex, a privately held pharmaceutical company, where he raised more than $200 million in equity and partnership funding. Bagnall also was CFO of Somatix, a gene therapy company, where he managed six public and private financings and three M&A transactions.
“Mark is a widely recognized biotech industry leader whose experience in senior management, finance and entrepreneurship will be extremely valuable to Ativa as we finalize our breakthrough system for clinical testing and data generation,” said Ativa Chairman James B. Stake.
“I was attracted to Ativa by the demonstrated capability and potential of its blood diagnostics platform,” Bagnall said. “I also appreciate the opportunity to invest in Ativa at such a critical inflection point in its development.”
The Ativa system miniaturizes the power of several large blood-testing laboratory instruments into a single point-of-care device the size of the original iMac. “In final design form, the Ativa system will deliver accurate test results for the most common diagnostic tests in 5 minutes,” said Ativa CEO James McNally, Ph.D. “This will help clinicians make better-informed diagnoses during initial patient visits, as opposed to waiting hours to days for lab test results, with the potential to improve patient interaction, compliance and outcomes.”
The Ativa system needs only a few drops of blood for testing. “Current centralized lab testing typically demands significant volumes of blood, which can be especially problematic for the very young and elderly,” McNally said. “The Ativa system is designed to reduce the complexity, cost, inefficiencies and inaccuracies of centralized blood testing and place it in the hands of those in direct contact with patients.”
About Ativa Medical Corp.
Ativa Medical Corp. is a privately held, emerging growth medical diagnostic company developing and commercializing novel point-of-care diagnostic technologies. Ativa is currently pursuing the commercialization of an innovative tabletop micro lab that will enable health care professionals to perform critical hematology and blood chemistry tests on-site and get accurate results in 5 minutes.
About the Ativa Micro Lab
Health care systems are demanding that companies develop more efficient treatment models, as 70 percent of physician decisions are driven by diagnostic testing. Ativa’s micro lab will help clinicians make treatment decisions immediately to potentially improve patient outcomes. Designed to perform the most common blood-based lab tests in a clinical setting, the compact Ativa system combines flow cytometry, electrochemistry, colorimetric testing and imaging. Each test runs on a single, inexpensive, disposable card tailored to the test panel of choice. The Ativa system has advanced to demonstrating equivalence to much costlier central lab systems. The system’s technology, including key microfluidic components, sample preparation, disposable test cards, diagnostic tests and instrumentation, is covered by multiple U.S. and international patents.
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