Diagnostics technology company LipoScience, which is hopeful of executing an initial public stock offering, has named a new general counsel and chief compliance officer.
Taking the post is Ashok Marin, who most recently served as senior counsel for global compliance at GE Healthcare. Marin worked at Sanofi from 2001-2010 in its legald epart,emt.
“We have built a strong record of attracting talented, hard working leaders to our company,” said Richard Brajer, chief executive officer at LipoScience. “Ashok brings more than a decade of legal and compliance experience in the pharmaceutical, medical device and diagnostic industry. His professionalism, energy and strategic insights will be an invaluable asset to the continued growth and success of LipoScience.”
The company recently promoted Timothy Fisher to chief operating officer.
LipoScience has developed and commercialized a blood test for cardiovascular disease utilizing nuclear magnetic resonance, or NMR, to measure the density of lipoproteins in a sample.
A year ago, LipoScience filed plans for an initial public offering of stock that could raise up to $86.2 million. According to the most recent filing, the NMR tests generated $21.7 million in revenue in the first half of 2011, a 12.4 percent increase compared to the first six months of 2010.
LipoScience is currently seeking FDA clearance for its Vantera system, which tests the blood samples at the site of a research lab or healthcare facility.