TORONTO–Axela Inc., a recognized innovator in protein interaction technology, announced today it has expanded its Board of Directors as the company positions itself for growth in the diagnostic, life science, and pharmaceutical research markets. Joining Axela’s board are Dave Lemus, David Giddings, and Bill Clarke, MD.

The new board members have a strong background in commercialization and high value transactions across Axela’s growth markets. Their experience supports the company’s strategy to leverage the basic research market to fuel opportunities in the diagnostic and pharmaceutical markets, consistent with its mission to become a fully integrated personalized medicine company. Participating in the research market provides unique access to novel discoveries that form the basis of a growing content pipeline for future multiplex diagnostic offerings.

“We are both honoured and excited to attract this high level of experience and industry knowledge to Axela’s board,” says Rocky Ganske Axela’s President and CEO. “Their experience brings tremendous value through leadership and corporate development as well as customer and partner introductions in our target industries.”

Dave Lemus is currently Chief Financial Officer of MorphoSys AG, a biotech focusing on fully human antibodies, and the company Mr. Lemus took public in 1999. Among his previous experience, Mr. Lemus was the Controller and Operations Manager at F. Hoffmann-La Roche International Division.

David Giddings’ business career has been focused on information technology and biotechnology businesses with established and emerging publicly and privately held companies. He is currently the President and CEO of Digilab Inc, a company providing advanced technologies, systems and solutions for the life sciences research market. Among his extensive previous experience, Mr. Giddings was notably the President and COO of Boehringer Mannheim Corporation, and the VP and General Manager of Kodak Clinical Diagnostics.

Bill Clarke, MD is currently the Chief Executive Officer of Cellectar, a biotech company developing radiopharmaceuticals for cancer diagnosis and treatment. Among his extensive experience, Dr. Clarke served as the Executive VP, CTO and Chief Medical Officer of GE Healthcare, and was responsible for overseeing the medical and clinical strategy and policy worldwide. Previously he was the EVP, Global Research & Development, of Amersham Health and spent three years at Glaxo Wellcome U.K. as Director of Biological Sciences.

About Axela, Inc.

Axela has developed a proprietary technology for real time protein detection, characterization and monitoring directly in biological samples. The company’s products provide life science and clinical researchers with simple tools and reagents to study interactions, expand the utility of traditional immunoassays and access novel categories of diagnostic markers. Participating in the research market provides unique access to novel discoveries that form the basis of a growing content pipeline for future multiplex diagnostic offerings. Axela is a privately-held company with operations in Toronto and California whose major investor is VenGrowth Private Equity Partners Inc., one of Canada’s premier private equity managers. For more information, please visit www.axela.com.