Sequenom fires CEO and others after investigation

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Source: SD Union Triune

The Associated Press

2:01 p.m. September 28, 2009

SAN DIEGO — Sequenom Inc. on Monday forced out four executives and three other employees, including its president and CEO and the executive in charge of research and development, after an investigation into the mishandling of test results for its Down syndrome blood test.

Sequenom said Harry Hixson Jr., 71, a member of its own board and a former president and chief operating officer of Amgen Inc., will take over as interim CEO. Another board member, Ronald Lindsay, 61, will be interim CFO, and controller Justin File, 39, will be the principal financial and accounting officer.

On April 29, Sequenom said study data and results for the SEQureDx Down test could not be relied on due to "employee mishandling." SEQureDx appeared to be a promising test that was faster, cheaper, less invasive and less risky than other methods, like amniocentesis. Its results in preliminary studies were close to perfect.

The company said its still believes in the science behind the SEQureDx test, but the previous test results should not be relied on.

Read more: http://www3.signonsandiego.com/stories/2009/sep/28/us-sequenom-investigation-092809/?business&zIndex=173666