Precision Therapeutics has changed its name to Helomics, a Pittsburgh, Pa.-based, privately held comprehensive personalized healthcare company that develops next-generation diagnostics for the oncology field.

Helomics believes each patient is unique, and his/her cancer treatment should be as well. The name reflects the company's new strategic vision, growth strategy and in-depth approach to characterizing patients' live and archived cancer cells. The company is committed to advancing leading-edge and proprietary technology platforms in cellular analysis, genomics, proteomics and bioinformatics combined with a precise and personalized reporting system for tumor profiling and predictive analytics that help physicians to individualize treatment options for their patients.

The company's flagship product, the ChemoFx Chemoresponse Marker (ChemoFx), helps improve patient outcomes by supporting physicians in the selection of effective treatments for women with gynecologic cancer.

Helomics also announced the culmination of a company recapitalization, including $60 million in financing provided by HealthCare Royalty Partners (HC Royalty), a global healthcare investment firm.

The company has strengthened its management team, appointing Neil J. Campbell president and CEO. Over the past three decades, Campbell has helped commercialize more than 275 life sciences products and services. He has held C-level and senior management positions at Abbott Laboratories, Celera Genomics, Life Technologies (now Invitrogen), EntreMed (now CASI Pharmaceuticals) and SuperNova Diagnostics.

Other senior level appointments include Dane R. Saglio to vice president and chief financial officer, and Ed A. Whigham vice president of sales. Helomics' new board of directors consists of six prominent industry veterans:

• Todd C. Davis, chairman (HC Royalty, Elan, Abbott)
• Neil J. Campbell, director (Abbott, Celera Genomics, Life Technologies, EntreMed, SuperNova Diagnostics)
• Clarke B. Futch, director (HC Royalty, Thomas Weisel Partners, Raymond James)
• Marc Kozin, director (L.E.K Consulting)
• D. Stafford O'Kelly, director (Abbott Molecular Diagnostics)
• Matthew Q. Reber, director (HC Royalty, Oak Hill Capital Partners, Morgan Stanley)

Helomics will offer a more comprehensive set of services to help physicians individualize treatment options for their patients. In addition to the company's core products, ChemoFx, BioSpeciFx and GeneFx, Helomics will offer an expanded platform of Precision Cellular Analytics, genomics and proteomics, as well as bioinformatics and personalized analytics, contract R&D and biorepository and banking.

The company also will be actively looking to acquire new and complementary products to enhance its personalized healthcare platform.