Quanterix Corporation has hired medtech veteran Jim Gute as its new chief commercial officer.
Gute comes to the testing company from Exact Sciences, where he was senior vice president and commercial manager of general screening. He leaves the company months after Exact was acquired by Abbott in a $23B merger deal.
He has also served as president of GE Healthcare, having spent 18 years in various roles at the health tech giant.
Quanterix is a smaller proposition compared with those major companies, but Gute has been tasked with a “re-acceleration of growth within the company’s commercial operations,” according to an Aug. 10 release.
This comes as the company has been on a hiring spree that includes adding industry veteran Geoff Albrecht as senior vice president and general manager of diagnostics, as well as Anthony Catalano, who was named chief operating officer, and Jason Faessler, who was named chief financial officer.
At the start of the year, Quanterix also hired a new chief executive and president in Everett Cunningham, formerly Illumina’s commercial lead. Cunningham previously worked at both Exact Sciences and GE Healthcare.
Quanterix said Gute’s addition has now seen it “finish building its senior management team ahead of its anticipated higher growth phase, especially in the Diagnostics business.”
The medtech works on ultrasensitive digital immunoassay platforms, with many powered by its Simoa (single molecule array) tech.
Much of its focus is on developing a new test to help detect Alzheimer’s disease, though analysts at Jefferies have previously questioned whether Cunningham can turn the company’s fortunes around and how well its Alzheimer’s disease focus can pan out.
Alongside the new CCO role, the company also released its Q2 results on Aug. 10, showing revenue of $32.9 million, up 34% from $24.5 million in the prior year.
It has lowered its guidance, however, saying in its Q2 report that it now expects revenue of $142 million to $148 million, compared with its earlier expectation for annual revenue of $169 million to $174 million.
“We are thrilled to attract commercial leadership of Jim’s caliber to Quanterix, at a pivotal time, ahead of our expansion in diagnostics and with renewed focus on growing our core business,” said Cunningham in a statement.
“His background at leading healthcare firms such as GE Healthcare and Exact Sciences prepares him well to tackle our commercial opportunities, improve our execution and drive growth.”