Illumina, Inc. (NASDAQ: ILMN) today announced that it has appointed Dr.
Daniel S. Grosu, M.D., as Vice President and Chief Medical Officer. In
this newly created position, Dr. Grosu will play a key role in building
Illumina’s diagnostic capabilities through collaborations with
regulatory agencies, internal product development teams, and Illumina’s
CLIA-certified clinical laboratory.
"Dr. Grosu brings the experience, credentials, and intellectual rigor
required to move Illumina’s cutting-edge technology into the clinic,”
said Illumina’s Gregory Heath, Senior Vice President and General
Manager, Diagnostics. "As Chief Medical Officer, he will assist in
aggressively driving our business towards this enormous new market
opportunity.”
"During the next few years, we will see tremendous advances in medicine
driven by technological breakthroughs in genomics and related systems
biology areas,” said Dr. Grosu. "These developments will bring us fully
into the long-awaited era of personalized medicine, and Illumina is
ideally positioned to be both a key enabler and a key player in this
historic process. I am delighted to join Illumina at such an exciting
time for our industry.”
Prior to joining Illumina, Dr. Grosu was Group Director, Clinical
Science, Clinical and Medical Affairs at Ortho-Clinical Diagnostics. He
was also previously the Director and Global Clinical Leader, Global
Clinical Development, Diagnostic Imaging at Bayer Healthcare
Pharmaceuticals. Prior to that, Dr. Grosu was at Siemens Medical
Solutions. He holds bachelor’s and master’s degrees from Wheaton College
in Wheaton, Ill., a medical degree from Missouri’s Saint Louis
University, and a master’s degree in business administration from the
University of Oxford.
About Dr. Grosu’s Compensation
Illumina will grant an option to purchase 60,000 shares of Illumina's
common stock and 6,700 restricted stock units (RSUs) to Dr. Grosu as
part of his inducement to join the company. An RSU represents a
conditional right to receive one share of our common stock at a
specified future date. The options and RSUs were approved by Illumina's
compensation committee pursuant to NASDAQ Marketplace Rule 5635(c)(4)
and will be granted under Illumina's New Hire Stock and Incentive Plan,
which was approved by Illumina's Board of Directors on January 29, 2008.
The option will have the following terms: an exercise price equal to the
closing fair market value of Illumina's common stock on the grant date,
a ten-year term, and vesting over four years with 25 percent of the
option vesting one year from the grant date and 1/48th of the option
vesting monthly thereafter. The RSUs will vest over four years with 25
percent of the RSUs vesting on each of the first four anniversaries of
the grant date. The grant date for the option and RSUs to Dr. Grosu will
be his start date with Illumina, which is expected to be October 31,
2011.
About Illumina
Illumina (http://www.illumina.com)
is a leading developer, manufacturer, and marketer of life science tools
and integrated systems for the analysis of genetic variation and
function. We provide innovative sequencing and array-based solutions for
genotyping, copy number variation analysis, methylation studies, gene
expression profiling, and low-multiplex analysis of DNA, RNA, and
protein. We also provide tools and services that are fueling advances in
consumer genomics and diagnostics. Our technology and products
accelerate genetic analysis research and its application, paving the way
for molecular medicine and ultimately transforming healthcare.
