There’s a new CEO at one of the fastest-growing tech companies based in Baltimore city.
Personal Genome Diagnostics (PGDx) named Megan Bailey as CEO on Tuesday — a promotion from her prior role as chief commercial officer. Bailey succeeds Doug Ward, who resigned as CEO to pursue other interests, the company said.
Bailey joined the company in 2018 after more than 14 years at well-known pharmaceutical company Roche. Prior to this appointment, she rose from chief marketing officer to chief commercial officer.
“Megan has made significant contributions since joining the company, and her leadership will be critical as we prepare for the next phase of commercial success,” said Dr. Luis Diaz, cofounder and board chairman, in a statement. “Megan’s extensive knowledge of clinical diagnostics, along with business development and commercialization expertise, is perfectly aligned with the next stages of growth for the company.”
Founded by prominent Johns Hopkins University cancer researchers Diaz and Dr. Victor Velculescu, Canton-based PGDx develops genomic cancer test kits that can be completed in local labs.
After a career spanning Bayer, General Electric and Roche, Ward joined the company in 2016 as its first CEO, and the company has grown since. That included a $75 million investment round in 2018 led by Bristol-Myers Squibb and NEA that led the company to triple the size of its Canton office space with a second office at Brewers Hill. In a September interview with Technical.ly columnist Margaret Roth, Ward said the company had grown from 50 to 200 employees during his tenure, and was eying future funding milestones as well as further office growth.
In a statement, Diaz said the board would like to “extend our sincere gratitude to Doug Ward for his vision, expertise and commitment to PGDx that enabled us to be a commercially oriented organization poised to deliver best-in-class products to healthcare systems worldwide.”
The company plans to continue forward with plans to launch its tissue-based cancer test.
“We’re very grateful for Doug’s leadership and commitment over the past few years, and we’ve been working very closely to ensure a smooth transition,” PGDx said. “This is such a pivotal time for the company. We’re very optimistic about our next chapter of commercial success with the upcoming launch of PGDx elio tissue complete, and we’re proud of the team for working tirelessly to bring us to where we are today.”-30-