Wednesday, April 1, 2009

Inverness adds doctor and exec Adashi to board

By Mass High Tech staff

Eli Adashi, a physician, scientist and executive, has been elected to the board of directors at Waltham-based Inverness Medical Innovations Inc., where he will also serve as a member of the board’s compensation committee.

Inverness (NYSE: IMA) makes diagnostic, monitoring and health management tests in the areas of oncology, cardiology, infectious disease, women’s health and drug abuse.

Adashi founded and previously led the ovarian cancer program at the National Cancer Institute-designated Hunstman Cancer Research Institute. He is a member of the Institute of Medicine of the National Academy of Sciences, as well as its committees on Human Embryonic Stem Cell Research and on Women’s Health Research. Adashi has also authored and co-authored more than 250 peer-reviewed works, more than 120 book chapters and 13 books related to ovarian biology, ovarian cancer and reproductive health.

Inverness most recently paid $200 million to acquire the diagnostics business of Acon Laboratories. The buyout is for Acon’s global research, development, manufacturing, marketing and sales business for its lateral flow immunoassay diagnostic test kits. These service the consumer, point-of-care and laboratory markets.