AspenBio Pharma Inc reported that Steve Lundy has joined the company as Chief Executive Officer and will become a member of the Board of Directors. The addition of Lundy is part of succession and organizational planning that was initiated in the latter half of 2009.

Daryl Faulkner, who served as Interim CEO in 2009 will relinquish that role but will continue as Executive Chairman of the company and will focus more on strategic matters.

Lundy brings over twenty years’ experience in the medical device and diagnostic industry. He has successfully led the commercial launch of several novel diagnostic assays including the first molecular test for Methicillin-resistant Staphylococcus aureus. He has also been instrumental in transactions involving the sale or merger of several diagnostic companies to larger life sciences entities. Most recently Lundy served as CEO of MicroPhage Inc. Previously, he has held senior executive roles at Vermillion Inc and GeneOhm which was acquired by Becton Dickinson.

The company recently reported completion of patient enrollment for its AppyScore™ pivotal clinical trial. AppyScore is the company’s blood test to help evaluate patients suspected of having acute appendicitis. The company plans to file a 510(k) application for AppyScore in the second quarter of 2010.

"This is an important time in the life of the company as we are moving quickly towards commercialization. The appointment of Steve Lundy follows an extensive executive search, and I am truly pleased to have someone with Steve’s proven leadership record and IVD experience driving the day-to-day execution of the company’s objectives during this critical next phase in the company’s development," stated Daryl Faulkner, executive chairman of the board.

Lundy commented, "I am excited about AspenBio’s opportunities in both the diagnostic and animal health development programs. My due diligence, including discussions with AspenBio board members and industry thought leaders have convinced me that AppyScore has the potential to make a major impact on patient care. I believe the company has positioned itself with technology, an intellectual property estate and a leadership team that are essential for success and I am very enthused to be joining the company in this important leadership role."

Source: AspenBio Pharma