ANN ARBOR, Mich., Jan. 10, 2011 /PRNewswire/ -- Genetics Squared, a prognostics company focused on developing gene-based molecular assays for the prediction of cancer recurrence, today announced that it will change its corporate name to Everist Genomics and has appointed Prasad Sunkara, Ph.D. as its new President and Chief Executive Officer, effective immediately.
In connection with these changes, the company is poised to launch its first prognostic gene-based laboratory test—OncoDefender™-CRC—intended to help guide treatment decisions following surgery for Stage I/II colon cancer and Stage I rectal cancer. Of the estimated 68,000 patients that will be diagnosed with early-stage colorectal cancer this year in the U.S. (approximately 22,000 Stage I, and 46,000 Stage II), 90% of those with Stage I and 70% of those with Stage II likely will be cured by surgery alone. The remaining 10% of those with Stage I and 30% with Stage II will ultimately recur and die of advanced colorectal cancer, consequent to undetected tumor remaining following definitive surgery.(1)
Dr. Prasad Sunkara, President and CEO of the Company, commented, "We believe that our new corporate name more accurately reflects our company's broader mission to develop and commercialize a range of prognostic products that will give physicians more patient-specific clinical information so that they can make informed decisions and improve clinical outcomes. I am excited to lead Everist during this next period of growth and development as we prepare to launch and commercialize the OncoDefender laboratory assay."
Dr. Sunkara succeeds Bill Worzel, who co-founded Everist in 2002 and led the company through cutting-edge research in genetic programming and molecular prognostics to prepare the company for commercialization. Worzel will remain with company in the new role of Chi