PLEASANTON, Calif., Aug. 8, 2024
/PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), a leader in
single cell and spatial biology, announced today several changes to
its executive team.
- Mennah Moustafa has been
named Chief Commercial Officer, effective August 1. In this role, Moustafa will be
responsible for driving commercial strategy and execution and
leading the company's sales, support and marketing functions.
- Justin McAnear, Chief
Financial Officer, will resign from the company effective
August 30, to join a private
company.
- Adam Taich has been
appointed Chief Financial Officer, effective August 12. Taich will be responsible for leading
the company's financial team and strategy.
"For the past two years, we've been intentionally evolving the
company to continue to drive strong growth at scale, with
across-the-board advances in how we innovate, operate and
go-to-market," said Serge Saxonov, CEO and Co-founder. "The changes
we're announcing today, along with the recent additions of
Alan Mateo and Sarah Teichmann to our Board of Directors, are
another step forward with these efforts. While we are sad to see
Justin moving on, we are excited to attract such talented and
seasoned leaders to help us execute our strategy, deliver the full
promise of single cell and spatial biology and capture the
incredible opportunity ahead.
"Justin has been a fantastic leader, a valued partner and a
trusted friend. He helped to take 10x public, scaled the company
and built a strong financial profile that has generated tremendous
revenue growth and positive cash flow. As a result, we believe we
are in a strong financial position and well set up for the future.
On behalf of the Board and everyone at 10x, I want to thank Justin
for his immeasurable contributions and wish him the best of luck in
his new role.
"With Justin's departure, I'm very excited to welcome Adam to
10x as our Chief Financial Officer. Adam is a seasoned executive
and strategic finance leader who has held many leadership roles
across functions in both large and small high growth companies. He
brings a unique set of industry, strategic and operational
perspectives to the role and to our senior team.
"Finally, throughout our extensive search process, Mennah
distinguished herself and emerged as the best candidate to lead our
commercial function in this next phase. She has done an exceptional
job as our interim CCO, building a strong leadership team, setting
a clear vision for our commercial strategy and rapidly implementing
foundational processes to better enable the success of our
customers and our company. I couldn't be more excited to have
Mennah at the helm as we work together to build a premier
commercial organization that delivers superior execution and
superior results."
McAnear said, "It's been an honor to be part of the 10x team
over the past six years. I'm extremely proud of how much we have
accomplished and how much we have grown – from a single product
company to a scaled organization with three leading platforms
across single cell and spatial biology. I firmly believe 10x will
continue to lead and has a very bright future ahead."
Added Moustafa, "I couldn't be more excited to be working
alongside such a talented team as we continue to build a
high-performance commercial organization, strengthen our commercial
machinery and scale into the future. I see a huge opportunity to
advance the field, and the entire commercial team is motivated and
rallied to pursue widespread adoption of 10x technologies so we can
advance our mission and accelerate the mastery of biology."
Taich said, "I've always believed 10x is one of the most
exciting companies in the industry, and I'm thrilled to work with
this talented team to drive the next phase of growth and advance
the company's mission. I've spent my entire career in the life
sciences tools sector in both operating and finance leadership
roles. I'm energized by the incredible potential of single cell and
spatial biology to transform human health."
About Mennah Moustafa
With more than two decades
of commercial and business development experience, Moustafa is an
accomplished leader with a proven track record of driving
commercial success and building high-performance teams in the
biotechnology and life sciences industry. Moustafa joined 10x
Genomics in April 2022 as Senior Vice
President of Commercial Operations and has served as the company's
interim Chief Commercial Officer since January 2024.
Prior to joining 10x Genomics, Moustafa served as Abcam's Head
of Commercial for the Americas before leading Business Development
and later the Customer Experience Journey. She previously served as
Vice President and Head of Business Development at Science Exchange
and also held positions of increasing responsibility during her 10
years at Sigma-Aldrich, culminating as Director of Strategic Sales.
Moustafa holds a bachelor's degree in Neuroscience from the
University of Minnesota.
About Adam Taich
Taich
joins 10x Genomics from Standard BioTools Inc., where he was Chief
Strategy Officer. He previously served as interim Chief Executive
Officer of SomaLogic, Inc., a proteomics company. At SomaLogic, he
previously held roles as Chief Business Officer and EVP of Life
Sciences.
Earlier, Taich held a number of senior roles spanning
finance, strategy and general management over a nearly 20-year
career at Thermo Fisher Scientific, a global supplier of scientific
instrumentation, reagents and software services. He spent the first
10 years of his time at Thermo Fisher in finance leadership roles
and then transitioned into general management of scaled businesses.
Prior to joining Thermo Fisher, he worked in investment banking.
Taich holds a bachelor's degree in Political Science and Russian
from Miami University in Oxford, Ohio.
About 10x Genomics
10x Genomics is a life science
technology company building products to accelerate the mastery of
biology and advance human health. Our integrated solutions include
instruments, consumables and software for single cell and spatial
biology, which help academic and translational researchers and
biopharmaceutical companies understand biological systems at a
resolution and scale that matches the complexity of biology. Our
products are behind breakthroughs in oncology, immunology,
neuroscience and more, fueling powerful discoveries that are
transforming the world's understanding of health and disease. To
learn more, visit 10xgenomics.com or connect with us on LinkedIn or
X (Twitter).
Forward Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 as contained in Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, which fall under
the "safe harbor" provisions of those sections. All statements,
other than statements of historical facts, may be forward-looking
statements. Forward-looking statements generally can be identified
by the use of forward-looking terminology such as "may," "might,"
"will," "should," "see," "expect," "plan," "anticipate," "could,"
"intend," "target," "project," "contemplate," "believe,"
"estimate," "predict," "deliver," "potential" or "continue" or
variations of them or similar terminology, but the absence of these
words does not mean that a statement is not forward-looking. These
forward-looking statements include statements regarding 10x
Genomics, Inc.'s expectations of size and growth of the opportunity
ahead, the potential of single cell and spatial biology, financial
prospects, commercial potential, organizations, operations, results
and performance. These statements are based on management's current
expectations, forecasts, beliefs, assumptions and information
currently available to management, and actual outcomes and results
could differ materially from these statements due to a number of
factors. Other risks and uncertainties that could affect 10x
Genomics' financial and operating results and cause actual results
to differ materially from those suggested by the forward-looking
statements made in this press release include those discussed under
the captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and
elsewhere in the documents 10x Genomics files with the Securities
and Exchange Commission (the "SEC") from time to time. Although 10x
Genomics believes that the expectations reflected in the
forward-looking statements are reasonable, it cannot provide any
assurance that these expectations will prove to be correct nor can
it guarantee that the future results, levels of activity,
performance, usage and events and circumstances reflected in the
forward-looking statements will be achieved or occur. The
forward-looking statements in this press release are based on
information available to 10x Genomics as of the date hereof, and
10x Genomics disclaims any obligation to update any forward-looking
statements provided to reflect any change in its expectations or
any change in events, conditions or circumstances on which any such
statement is based, except as required by law. These
forward-looking statements should not be relied upon as
representing 10x Genomics' views as of any date subsequent to the
date of this press release.
Disclosure Information
10x Genomics uses filings with
the Securities and Exchange Commission, our website
(www.10xgenomics.com), press releases, public conference calls,
public webcasts and our social media accounts as means of
disclosing material non-public information and for complying with
our disclosure obligations under Regulation FD.
Contacts
Investors: investors@10xgenomics.com
Media: media@10xgenomics.com
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SOURCE 10x Genomics, Inc.