Wednesday, April 25, 2012
Nodality loses leader to NEA as diagnostics model morphs
Growing diagnostic test developer Nodality Inc. is losing its first CEO, but the venture capital world is gaining another experienced life sciences entrepreneur. Dr. David Parkinson will join New Enterprise Associates as a venture partner. He initially will be interim chief medical officer of NEA-backed Zyngenia Inc., a young Gaithersburg, Md., company targeting cancer and autoimmune diseases. Parkinson leaves Nodality -- named “Most Promising Company” at the Personalized Medicine World Congress last year -- as the 40-person South San Francisco company forges ahead with a hybrid strategy of selling its tests into clinics and striking deals with drug developers. In the face of changes in the medical diagnostics industry, it’s a model that just might be used by more companies.