Ventana Medical Systems Inc. (VNSI)
Interview with: Nicholas Malden, CFO
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and Information on their automated diagnostic systems to
the anatomical pathology market. |
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Ventana develops, manufactures and
markets instrument/reagent systems that are important tools used in the
diagnosis and treatment of cancer and infectious diseases
Healthcare
Medical Equipment and Supplies
(VNSI-NASD)
Ventana Medical Systems Inc.
Nicholas Malden
Chief Financial Officer
Interview conducted by:
Lynn Fosse
Senior Editor
CEOCFOinterviews.com
December 2003
Ventana Medical (VNSI-NASD) is the world’s leading supplier of automated diagnostic
systems to the anatomical pathology market. Ventana develops, manufactures and markets
instrument/reagent systems that automate tissue preparation and slide staining in clinical
histology and drug discovery laboratories worldwide. Ventana's clinical systems are
important tools used in the diagnosis and treatment of cancer and infectious diseases. And
their drug discovery systems are used to accelerate the discovery of new drug targets and
evaluate the safety of new drug compounds. Through automation and systems integration,
Ventana is standardizing and optimizing the slide staining process, thereby helping
pathologists recommend treatment solutions that deliver superior patient care. “We provide our customers with automated instrument and reagent
systems solutions which automate chemical reactions on glass slides.” Offers Mr. Nicholas Malden, CFO of Ventana Medical Systems Inc., “This automation standardizes the staining process through eliminating many
manual steps and enables labs to run sophisticated tissue tests more easily.”
Continuing to comment on the value Ventana Medical brings to the marketplace, Mr. Malden says, “Tissue specimens
resulting from any hospital procedure are sent to a histology lab where a hematoxylin and
eosin (or “primary”) stain is performed. The resulting stained tissue slide is
reviewed by a pathologist who determines whether the tissue is normal or abnormal. In
80-85% of the cases, specimens are determined to be normal and no further testing is
required. The remaining 15-20% of cases is generally put through a series of
“advanced stains” in which the pathologist obtains ever more detailed
information to aid in making a diagnosis. Ventana’s current generation automated
instrument and reagent systems are used in this “advanced staining” segment
which comprises three different types of technology; special stains, Immunohistochemistry
(IHC) stains, and In situ hybridization (ISH) stains. We are expecting to launch a new
primary staining system offering entirely new levels of automation in the fourth-quarter
of 2004” Asked what sets Ventana apart, Mr. Malden
tells us, “There is competition in the market, however we
believe our largest single competitor continues to be manual slide preparation, ie, the
global staining market remains largely manual. Ventana’s latest generation of
instruments automate approximately 60 manual work steps. This level of automation is also
far in excess of the level of automation offered by competitors. Importantly, we have a
significant intellectual property portfolio around that technology.” “Ventana is a leader in a rapidly growth segment of the much larger
in vitro diagnostics market.” Says Mr. Malden,
addressing investors, “Understanding disease in tissue is
becoming an increasingly important element of diagnostics and Ventana is well positioned
to take advantage of this trend. We have leading instrument and reagent systems with
significant patent protection across both our technology and methods. In addition, the
Company has an experienced management team focused on providing diagnostic tools which
assist our customers in delivering the best possible patient care.”
Ventana’s instrument and reagent systems are
used in clinical histology, cytology, and drug discovery laboratories around the globe.
Customers consist of hospital-based histology labs, independent reference labs, medical
research centers, and drug discovery laboratories of the largest pharmaceutical and
biotechnology companies in the world.
The Company’s instrument-reagent systems are
designed to standardize the preparation and staining of patient tissue or cells mounted on
a microscope slide for examination by a pathologist. Ventana instruments include the
BenchMark® XT, BenchMark®, NexES® IHC, NexES® Special Stains, TechMate™,
Renaissance™, EBAR™ and the Discovery™ . Ventana offers an extensive menu
of detection systems and primary antibodies for use on Ventana's Automated Staining
Systems.
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