SAN DIEGO, Jul 02, 2010 (BUSINESS WIRE) --
Illumina, Inc. (NASDAQ:ILMN) today announced that it has appointed Nicholas J. Naclerio, Ph.D., to the position of senior vice president, Corporate Development, reporting to Jay Flatley, president and chief executive officer. In this capacity, Dr. Naclerio will be responsible for all Corporate and Business Development activities, including licensing, strategic planning and acquisitions.
"Nick has a long and distinguished track record building successful businesses and commercializing promising scientific and technological innovations in the diagnostics, biotech and other high-tech areas," said Mr. Flatley. "He brings to Illumina a unique combination of strategic perspective, business leadership and investment acumen that will be instrumental to achieving our growth objectives in life sciences, molecular diagnostics and consumer genomics."
Before joining Illumina, Dr. Naclerio served as co-founder and executive chairman of Quanterix, focusing on high-value clinical diagnostics measuring rare serum proteins. He was successful raising $15 million in venture financing to launch the company, and both invested in and raised financing for several other biotech and diagnostics companies, including Boreal Genomics, O-Link Bioscience and Fluxion Bioscience. Previously he served as executive chairman of True Materials, a particle array technology company, and president and CEO of ParAllele BioScience, a provider of solutions for large-scale genetics research, both of which were later sold to Affymetrix. Dr. Naclerio also held leadership positions in Motorola, the Defense Advanced Research Projects Agency and the U.S. Air Force. He has served on a number of corporate and institutional boards, including the SNP Consortium. He holds a Ph.D. in Electrical Engineering from the University of Maryland.
About Dr. Naclerio's Compensation
Illumina granted an option to purchase 220,000 shares of Illumina's common stock to Dr. Naclerio, as part of his inducement to join the company. The option was granted by Illumina's Compensation Committee pursuant to NASDAQ Marketplace Rule 5635(c)(4) and under Illumina's New Hire Stock and Incentive Plan, which was approved by Illumina's Board of Directors on January 29, 2008. The option has the following terms: an exercise price equal to the closing fair market value of Illumina's common stock on the grant date, which was June 29, 2010, and a ten-year term with 25 percent of the option vesting on August 8, 2011 and 1/48th of the option vesting monthly thereafter.
For more information about careers at Illumina, please visit http://www.illumina.com/careers.
About Illumina
Illumina (http://www.illumina.com) is a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function. We provide innovative sequencing and array-based solutions for genotyping, copy number variation analysis, methylation studies, gene expression profiling, and low-multiplex analysis of DNA, RNA and protein. We also provide tools and services that are fueling advances in consumer genomics and diagnostics. Our technology and products accelerate genetic analysis research and its application, paving the way for molecular medicine and ultimately transforming healthcare.
SOURCE: Illumina, Inc.
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