RainDance Appoints Martin M. Coyne II and Glenn P. Muir to Board of Directors
News Nov 07, 2014
RainDance Technologies, Inc. has announced the appointment of Martin M. Coyne II and Glenn P. Muir to its Board of Directors.
Coyne Brings Technology and Healthcare Industry Best Practices
Mr. Coyne currently serves as a director of Akamai, a role he has held since November 2001. Before his retirement from Eastman Kodak in July 2003, he served in a variety of senior management positions including President of Health Imaging, President of the Commercial Business Group and most recently, Executive Vice President of Eastman Kodak and Group Executive of the Photography Group.
Mr. Coyne also serves as Chairman of the Board of RockTech, a privately held SaaS business. He is President and CEO of the New Jersey Chapter of the National Association of Corporate Directors. In October 2011, he was named to the Directorship 100 list of most influential directors. In the past, he served as a director of BioClinica, OpenPages, Avecia Group Plc, director and Chairman of Welch Allyn and as a member of the board of AdvaMed. He is the author of a book and many articles on board governance, CEO leadership and improving CEO performance. He is also the Chairman and Founder of the CEO Learning Network.
“At its core RainDance is a technology company providing customers and partners with the ability to extract precise genetic data,” Coyne said. “It’s an exciting time to be at the intersection of healthcare and technology and to capitalize on genomics ‘big data’ trends as well as to be at the vanguard of fluid biopsy research of cancers and other complex diseases. I look forward to working with the board and leadership team to help the company continue its success.”
“Marty is a pioneer in digital content and big data. He served as Akamai’s Lead Director from May 2003-May 2013 while the company grew from an Internet startup to almost $1.5B in revenue,” said Roopom Banerjee, RainDance Technologies President and CEO. “At Eastman Kodak Marty was responsible for $9B in revenue overseeing businesses each with ‘razor-blade’ models. His operating experience along with his extensive knowledge of the healthcare industry - including former management roles in sales, international marketing and business development at E.R.Squibb and Sterling Drug - will help the company develop its markets and further build a loyal customer base.”
Muir Adds Deep Financial Expertise to RainDance’s Expanding Operations
Mr. Muir has extensive experience in financial management having guided Hologic from its early days with less than $10 million in revenue to its current position as one of the largest life science companies with annual revenues of over $2 billion. He was Hologic’s Chief Financial Officer from 1992 to May 2014 and Executive Vice President since 2000 with a broad range of financial and operating responsibilities including the oversight of the company’s strategic initiatives. He was at the helm for Hologic’s IPO in 1990.
Currently the Audit Committee Chair at ReWalk Robotics Ltd, his Board of Director experience also includes Hologic, Inc. from 2001 to 2013 and Vivid Technologies, Inc. from 1996 until the company was sold to EG&G in 1999. He was one of America’s Best CFOs as surveyed by Institutional Investor in 2009. In 2011 Boston Business Journals named him CFO of the year.
Banerjee noted, “Glenn has built world-class organizations, has led the acquisition/integration of over twenty companies and has substantial financing experience with private and public companies. His healthcare industry experience spans medical imaging, diagnostics and surgical solutions. We are pleased to add his exceptional talents to our board.”
Muir added, “RainDance is helping researchers around the world unlock critical new insights and data from genetics. In doing so, it is playing a key role in opening up a world of discovery for researchers and advancing the understanding of disease development. I look forward to working with the board and leadership team.”
Complex Genetics Made Simple
RainDance Technologies enables research with an innovative product portfolio to study cell-free and cell-based biomarkers for hereditary risk predisposition, initial detection, pathology and residual disease. The company’s products include:
• RainDrop® System: Ultra-sensitive digital PCR system for research of early detection and monitoring biomarkers for cancers, viruses, pathogens, and immune disorders.
• ThunderBolts™ Cancer Panel: Comprehensive Next-Generation Sequencing (NGS) panel enabling highly sensitive, rapid, low input and primary tumor profiling research in fresh biopsy, plasma and FFPE samples.
• ThunderStorm® System: High-throughput, fully automated NGS content enrichment solution enabling researchers to generate high-quality data on large-scale disease panels with a simple and affordable workflow.
Previous work by the International Multiple Sclerosis Genetics Consortium (IMSGC) has identified 233 genetic risk variants. However, these only account for about 20% of overall disease risk, with the remaining genetic culprits proving elusive. A new study has tracked down four of these hard-to-find genes.READ MORE