AspenBio Pharma, Inc., developer of innovative diagnostic and therapeutic products announced recently that Steve Lundy has joined the company, taking up the CEO position and becoming a member of the Company’s Board of Directors (BoD).

Aspen’s innovative diagnostic and therapeutic products, for which vast un-served/under-served markets exist, are exemplified by the Company’s leading candidate, AppyScore™, for acute appendicitis blood testing, which satisfies a long-standing need of hospital emergency departments.

Consequent to organizational plans and ongoing succession begun in the second half of 09, this appointment and the stepping down of Daryl Faulkner (who served as Interim CEO in 09 and goes on to fill the Executive Chairman position) are part of a larger strategy which focuses on the imminent commercialization of AppyScore.

With over 2 decades of industry experience in diagnostics and medical devices, Steve Lundy has spearheaded the commercial launch of multiple, highly-successful diagnostic arrays like the first molecular test for MRSA, and has provided the key insights and vital knowledge to help manage the sale or merger of many smaller diagnostics outfits to sector-leading life sciences companies.

Mr. Lundy comes to the role from his most recent position as CEO of MicroPhage, Inc., and has served the functions of a senior executive at both Vermillion, Inc. and GeneOhm, which was later acquired by established medical technology company Becton Dickinson.

Faulkner noted the importance of this crucial period in the Company’s history, including the recent completion of patient enrollment for clinical trials of the AppyScore blood test, and solidification of plans to file a 510(k) application in 2Q FY10 for the eagerly awaited test – both of which poise the Company to move forward with immediate and rapid implementation of the test as a commercial product.

Faulkner also pointed out the vast amount of effort poured into the extensive executive search which culminated in the appointment of Lundy, saying “I am truly pleased to have someone with Steve’s proven leadership record and IVD experience” to provide day-to-day oversight and management as APPY moves into this critical next phase of development.

Lundy pointed to the vast, untapped profit potential for the Company in both diagnostics and animal health development, and expressed his convictions that – after having completed due diligence regarding APPY’s market position, and considering the advice of the Company’s board members and of industry thought leaders – the Company “has the potential to make a major impact on patient care”.

Lundy noted the optimum strategic market position APPY has created through the systematic cultivation of appropriate technologies, intellectual property assets and an outstanding leadership team, and expressed his enthusiasm to be joining APPY in this key leadership role.