Metabolon Separates Board Chairman & CEO Roles
Independent Director Santo J. Costa Elected Chairman of the Board
RESEARCH TRIANGLE PARK, N.C. – March 5, 2015 – Metabolon, Inc., the global leader in metabolomics, announces that it has separated the roles of CEO and chairman of the board of directors, naming Santo J. Costa, J.D., as its chairman. John Ryals, who served as chairman since January 2014, continues to serve as Metabolon’s CEO and as a director.
Mr. Costa was elected to the Metabolon board in 2013 as independent lead director. He currently chairs its Compensation Committee and serves on the Nominations and Governance Committee.
“Metabolon is committed to further strengthening its corporate governance, and splitting the chairman and CEO roles continues to gain support as a best practice among high-performing companies,” said Costa. “I’m delighted to have been appointed as chairman and look forward to leading the board.”
"Sandy has extensive life sciences industry expertise and boardroom experience and has brought valuable perspectives to the board,” said John Ryals, Metabolon CEO. “I strongly support his election as chairman, and I’m confident that he will do an exceptional job as we work to achieve our strategic goals and continue the company’s growth.”
About Santo J. Costa
Mr. Costa has held senior executive positions across the life sciences industry, including president and COO of Quintiles, Inc. from 1994 through 1999, where he was responsible for all operating divisions and worldwide business development. Prior to joining Quintiles, Mr. Costa spent 23 years in the pharmaceutical industry, including Glaxo, Inc., where he held several positions including senior vice president of administration and general counsel. He also served on the company's board of directors and executive committee. Mr. Costa presently serves as a director of Cytokinetics, Inc. and is the chairman of the board at Alchemia Ltd. He also serves on several boards affiliated with Duke Medical Center. Mr. Costa is currently Of Counsel to the law firm Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP in Raleigh, North Carolina. He received his undergraduate degree in pharmacy and Juris Doctor degree from St. John’s University.
Metabolon, Inc. is the world’s leading life sciences company focused on metabolomics – an integrative, powerful phenotyping technology for assessing health. Its proprietary platforms and informatics systems are delivering biomarker discoveries, innovative diagnostic tests, breakthroughs in personalized medicine, and robust partnerships in genomics-based health initiatives. Metabolon’s expertise is also accelerating research and product development for more than 650 clients across the pharmaceutical, biotechnology, consumer products, agriculture and nutrition industries, as well as academic and government organizations. Founded in 2000 and headquartered in Research Triangle Park, North Carolina, the company has conducted more than 3,500 independent and collaborative studies, resulting in over 400 peer-reviewed publications. For more information, please visit www.metabolon.com or follow us on LinkedIn or Twitter.
Cautionary Note about Forward-Looking Statements
The materials provided herein that are not historical facts are or might constitute projections and other forward-looking statements regarding future events that involve substantial risks, uncertainties and assumptions. If any of these risks or uncertainties materialize, or if any of these assumptions prove to be incorrect, Metabolon’s results could differ materially from the results expressed or implied by any forward-looking statements. The risks, uncertainties and assumptions referred to above include, but are not limited to: the uncertainties inherent in biochemical research and development; decisions by regulatory authorities regarding whether and when to approve diagnostic tests; the clinical utility of Metabolon’s metabolomic services; Metabolon’s and its distributors’ ability to successfully commercialize and market both new and existing products; governmental laws and regulations affecting health care, including access, pricing and reimbursement of diagnostic tests; the strength of Metabolon’s intellectual property portfolio; Metabolon’s history of operating losses; whether Metabolon is able to achieve or sustain profitability; its highly competitive industry; its ability to compete effectively; security and privacy risks; and Metabolon’s ability to continue to innovate and provide products and services that are useful to its clients, among other risks, uncertainties and assumptions.
Vice President, Corporate Communications