Iceland Genomics Appoints Dana B. Hosseini President and CEO

The Former Cyntellect Executive Also Named to Iceland Genomics' Board

06-Feb-2004

REYKJAVIK, Iceland - Iceland Genomics Corporation ("IGC"), a privately held cancer research company, announced the appointment of Dana B. Hosseini to the positions of President and CEO effective yesterday. Mr. Hosseini has also been designated a member of the Iceland Genomics Board of Directors.

"Dana Hosseini is an outstanding executive who has gained a wealth of experience helping small biotechnology companies manage the change from a R&D organization to a commercial, revenue-generating organization through collaborations and partnerships," remarked Robert Wessman, Iceland Genomics Chairman. "He played a significant role in Sequenom Incorporated's early commercial efforts and recently led and managed Cyntellect's agreement with Eli Lilly and Company. With his leadership skills and experience in managing commercialization for early stage biotechnology companies, we believe Dana will be instrumental in accelerating Iceland Genomics' growth and developing a sustainable profitable business."

"The value of the Icelandic population as a resource for genetic research has been well established," said Mr. Hosseini. "Iceland Genomics has spent the last three years developing the scientific resources and capabilities for investigating the genetic causes of cancer. The company has access to over 20,000 cancer patient, patient family, and healthy control samples, each with comprehensive clinical and pedigree data." Mr. Hosseini continued, "With these tremendous resources and established relationships with the Icelandic Cancer registry, national hospitals, and clinician network, IGC is the only company that I know of that can use a true population approach to understanding the genetic causes of cancer as they relate to the clinical outcomes. We are well positioned for discovery. I look forward to working with the talented staff of Iceland Genomics to develop Iceland's next successful biotech company, and to leading an organization which is advancing our knowledge of cancer biology."

Prior to his appointments at Iceland Genomics, Mr. Hosseini served as Vice President, Business Development for Cyntellect, Inc. and Director, Business Development for Sequenom, Inc. From 1995 to 1998, he served in various international sales, marketing and business development roles in Abbott Laboratories. Mr. Hosseini holds an M.B.A. and Bachelor of Science degree in Biology from the University of British Columbia.

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