AspenBio Pharma Enhances Product Development & Manufacturing Capabilities

AspenBio Pharma, Inc. announced that Lyndal Hesterberg, Ph.D., has agreed to lead the Company's AppyScore(TM) product development. Dr. Hesterberg brings to AspenBio more than 30 years of experience in the medical diagnostic and biotechnology industry with a diverse background in research, product development and clinical and regulatory successes, including 510(k) submissions. His specific experience includes development of multiplexed IVDMIA "multiple-marker" diagnostic products.

Steve Lundy, President and CEO of AspenBio, commented, "Adding Lyndal to the AspenBio team infuses the company with a proven, experienced medical diagnostic executive who has built a career bringing technologies from bench to bedside. His expertise, particularly in scaling product development for clinical and commercial purposes, will be invaluable as AspenBio prepares to initiate a clinical trial of AppyScore in the third quarter of 2012, targets EU commercialization in the fourth quarter, and seeks FDA clearance and builds towards potential US commercialization in 2013."

Dr. Hesterberg has been a consultant with AspenBio since January 2012 during which time he has played a key role in R&D, product development and clinical and regulatory matters for AppyScore. Prior to joining AspenBio, Dr. Hesterberg served as Chief Technology Officer of Crescendo Bioscience, Inc., a molecular diagnostics laboratory focused on rheumatology. As CTO, Dr. Hesterberg was responsible for the rapid development of multiplexed IVDMIA products.

An entrepreneur as well as a senior operating executive, Dr. Hesterberg founded BaroFold, Inc. in 2003, serving as the company's president and CEO until 2008. In addition to Crescendo and BaroFold, Dr. Hesterberg's career is highlighted by high-ranking directorial and operational positions with SomaLogic, Inc.; Thermo BioStar, Inc.; Amgen, Inc.; and Syngene Products and Research, Inc.

Dr. Hesterberg holds a doctorate in biochemistry from St. Louis University and a bachelors of science, biochemistry from the University of Illinois. He completed his post-doctoral fellow at the Max Planck Institute for Biophysical Chemistry.