By Diagnostics World Staff
January 6, 2017 | Foundation Medicine today announced that, as part of the succession of its executive leadership, the Board of Directors has appointed Troy Cox, a highly regarded global biopharma leader, as chief executive officer to succeed Michael Pellini. Dr. Pellini, who has served as chief executive officer of the company since 2011, has been appointed chairman of the company’s Board of Directors. Alexis Borisy, founding chief executive officer and current chairman of the board for Foundation Medicine, will continue to serve on the Board of Directors. Mr. Cox will also join the Board of Directors. All of these changes will become effective by February 6, 2017.
Dr. Pellini said in a statement, “In the coming years, Foundation Medicine will face a series of key catalysts for company growth, and Troy’s strategic, commercial and organizational acumen will be particularly critical as we proceed through the FDA’s parallel review process and, if approved, prepare for the launch of the first FDA-approved universal companion diagnostic assay for cancer. My decision to change roles at Foundation Medicine has been made easier by the presence of an experienced senior management team, and our ability to attract Troy, who has a proven track record of achievement, to Foundation Medicine. I look forward to collaborating with Troy and the senior management team in transitioning the chief executive officer role, as we jointly work towards the achievement of the company’s objectives and its overall mission to transform cancer care.”
Before joining Genentech, Mr. Cox held global P&L business unit responsibility within UCB BioPharma, with responsibility for developing and commercializing medicines that serve patients across diverse specialty therapy areas. During his tenure at UCB BioPharma, Mr. Cox shaped corporate strategy, led M&A initiatives and implemented commercial strategies that accelerated the business unit’s growth and profitability. Prior to UCB BioPharma, Mr. Cox led a large U.S. primary care business unit for Sanofi-Aventis. His diverse experience includes senior roles in European country general management, U.S. managed care sales leadership, and U.S. marketing with Schering-Plough.