Allegro Diagnostics Expands Board and Executive Team

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Allegro Diagnostics, a leader in the field of molecular diagnostics for lung cancer, has announced that Stephen Chubb has joined the company's board of directors and Stephanie Hallam, Ph.D. has joined the company as Vice President of Operations and Quality Systems.

Such information will permit clinicians to begin treatment sooner when tumors are vulnerable and to select patient-specific management regimens. I joined the Allegro Board because I am convinced that its BronchoGen™ test method accomplishes these clinical objectives.

Allegro Diagnostics, a leader in the field of molecular diagnostics for lung cancer, has announced that Stephen Chubb has joined the company's board of directors and Stephanie Hallam, Ph.D. has joined the company as Vice President of Operations and Quality Systems.

Mr. Chubb was most recently Chairman & CEO of Matritech, which was sold to Inverness Medical in December of 2007. "The most effective ways to reduce deaths from lung cancer are to detect it earlier and identify, more specifically, the form that each patient has," commented Mr. Chubb. "Such information will permit clinicians to begin treatment sooner when tumors are vulnerable and to select patient-specific management regimens. I joined the Allegro Board because I am convinced that its BronchoGen™ test method accomplishes these clinical objectives." Earlier in his career Mr. Chubb founded and served as Chairman, President & CEO of T Cell Sciences and Cytogen Corporation. Previously, Mr. Chubb worked for Baxter Corporation, where he served as President of the Hyland Diagnostics Division.        

"We are delighted to bring Steve to the Board of Directors of Allegro Diagnostics," said Andrey Zarur, Chairman of Allegro Diagnostics and Managing Partner with Kodiak Venture Partners. "Steve brings a tremendous wealth of expertise in development and commercialization of diagnostic products. We believe his addition to the board will add significant value to the company's scientific, clinical, and commercial efforts."

Dr. Stephanie Hallam joins Allegro Diagnostics from Genzyme Genetics, where she held positions of increasing responsibility in the areas of laboratory management and operations, information systems for molecular diagnostics, and quality control. Previously, Dr. Hallam worked for Athena Diagnostics in laboratory operations and quality systems, and Kimball Genetics, where she served as Laboratory Director. Dr. Hallam is board certified in Clinical Molecular Genetics, is a Fellow of the American College of Medical Genetics, and is licensed by the New York State Department of Health as a Laboratory Director. Dr. Hallam holds a Ph.D. in Molecular Genetics from the University of East Anglia (UK), completed her Clinical Molecular Genetics fellowship at the University of Colorado Health Sciences Center, and holds an MBA from Clark University.    

"Stephanie brings tremendous experience in understanding of laboratory operations which are critical as Allegro approaches commercialization. We are thrilled to have her as a key member of the senior management team," said Josh Phillips, Allegro board member and General Partner with Catalyst Health Ventures.

"We are proud to be making such excellent additions to the Allegro team," said Dan Rippy, President & CEO of Allegro Diagnostics. "Steve will provide superb guidance and perspective to the board as we seek to build the leading molecular diagnostics franchise in lung cancer. Stephanie brings essential talents to Allegro in the areas of laboratory operations, management, and quality systems, which will be integral to the commercial success of our products."    

About Lung Cancer

Lung cancer is the leading cause of cancer death in the industrialized world, responsible for more than 1.3 million deaths per year worldwide. In the U.S., lung cancer kills more people than colon, breast, prostate, and ovarian cancers combined. According to the American Cancer Society, more than 200,000 new cases of lung cancer are diagnosed each year in the U.S., and more than 160,000 deaths occur annually from the disease. While lung cancer can be cured by surgery if caught in the early stages, 65-80% of lung cancer patients present with late stage disease. The five-year survival rate for lung cancer patients is roughly 15%, a rate that has remained unchanged for several decades.    

About Allegro Diagnostics

Allegro Diagnostics was founded in 2006 to develop and commercialize molecular diagnostics in lung cancer and other epithelial diseases using proprietary gene expression technology originating within the Pulmonary Center at the Boston University School of Medicine. The company will initially focus on earlier stage, more accurate diagnosis of suspected lung cancer. Allegro Diagnostics is privately funded by Kodiak Venture Partners, Catalyst Health Ventures, and Boston University. For more information, visit the website of Allegro Diagnostics at: http://www.allegrodx.com.

About Kodiak Venture Partners

Founded in 1999, Kodiak manages three funds totaling $676M and targets companies in North America. Kodiak focuses on seed and early stage investments in emerging communications/wireless, semiconductor/equipment, software/services, internet/new media, and life technology companies. Kodiak's partners are successful high-technology business entrepreneurs who take a hands-on approach to building market leaders. Previous Kodiak investments have included ALIS Corporation, Fluxion Biosciences, and Groove Mobile. For more information on Kodiak Venture Partners, visit: http://www.kodiakvp.com.

About Catalyst Health Ventures

Catalyst Health Ventures is an early-stage venture capital firm targeting technology solutions applied within the health care and life science industries. At the core of its strategy is a committed, hands-on approach to working with management and syndicate partners to build successful companies. Catalyst's disciplined investment process leverages both intellectual and financial capital to originate deals, cultivate opportunities, and realize the full potential of emerging ventures in the health care and life science marketplace. For more information on Catalyst Health Ventures, visit: http://www.catalysthealthventures.com.

Contacts:

Dan Rippy
Allegro Diagnostics, Inc.
617-414-6990

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