Vermillion Appoints President and Chief Executive Officer
Complete the form below to unlock access to ALL audio articles.
Vermillion, Inc. has appointed Thomas McLain as president and chief executive officer effective March 18, 2013. He succeeds Bruce Huebner, the company's interim chief executive officer, who will remain a director of the company and assist in the transition.
McLain brings to Vermillion more than 20 years of experience in executive management and corporate governance for both public and privately held companies, with a strong record of turning companies into leading players in the medical diagnostic and biotechnology industry.
"We expect to benefit from Tom's seasoned skills, abilities and insights as we pursue strategies that expand our product pipeline and advance the development and commercial adoption of our diagnostic tests," said James S. Burns, Vermillion's chairman of the board.
Burns continued, "We look forward to Tom's leadership in building a preeminent company in diagnostic tests that address unmet clinical needs in women's health, particularly in ovarian and other oncological cancers. We're also confident he will help broaden the use of our lead diagnostic test, OVA1®, which is unmatched in detecting ovarian cancer."
"I would also like to express our sincere appreciation to Bruce Huebner for stepping up from his board duties to provide effective leadership during this transition period, and setting Vermillion on a solid course," added Burns. "We're looking forward to his continued contributions as a member of our board of directors and assistance with a smooth leadership transition."
Prior to joining Vermillion, McLain served as CEO and CFO of Claro Scientific, an early-stage diagnostic company. At Claro, he brought commercial focus to the development of its broad platform technology.
This included the implementation of a cost-effective research and clinical study program, executing upon a milestone-structured investor and strategic partnering program, and forming partnerships that funded and advanced the company.
Before Claro, he held various senior management positions at Nabi Biopharmaceuticals (now Biota Pharmaceuticals), a biotechnology company addressing immune system conditions.
While serving as CEO, the company's market capitalization increased from $175 million to more than $1 billion within three years.
Prior to Nabi, McLain held several senior management positions of increasing responsibility over 10 years at Bausch & Lomb, a global eye care company.
McLain also previously served Eastman Chemical Company as a member of its board of directors, the audit and finance committees, and as chairman of the health, safety, environment and security committee.
McLain previously served as a member of the board of the biotechnology industry association (BIO), as well as several community and business development boards.
Earlier in his career, McLain served as an audit manager at Ernst & Young, LLP. He holds an MBA in Accounting and Information Systems from the University of Rochester, Simon Graduate School of Business and a BA in economics from the College of the Holy Cross.