Startup Centice Corporation Picks Former TriPath Imaging Executive To Be CEO
July 20 2006 – DURHAM, N.C. - Ray Swanson, who resigned as a senior executive with TriPath Imaging in Burlington on Wednesday, is taking over as the president and chief executive officer of RTP startup Centice Corporation.
Swanson also will join the board of directors for privately held Centice, which is developing advanced sensor technology. He will assume his duties in September, a spokesman for the company said.
Stepping aside as interim CEO is Michael Sullivan, who is a co-founder of Centice, which was launched in 2004. He will remain with the company as vice president of business development.
The change at the top is just one of a series of actions taking place at Centice. It is moving to Morrisville from Durham, occupying nearly 14,000 square feet of space. That’s more than triple the size of its current offices.
Centice is also rapidly expanding its workforce. The company now has 22 employees but plans to have 40 by the end of the year.
Swanson also will be tasked with helping to raise the next round of venture capital for Centice, the spokesman said. Centice plans to seek between $8-10 million in "B" round financing before the end of the year.
Centice has already raised $3.5 million, with funding coming from The Aurora Funds and Novak Biddle Venture Funds.
Swanson was senior vice president of commercial operations at TriPath, which provides cancer diagnostics and devices. He also held senior management positions at Dade Behring, a clinical diagnostics company, from 1987-2000.
"I am pleased to be joining Centice at such an exciting time for the company," Swanson said in a statement. "While our immediate focus will be the continued commercialization of our technology in the markets we currently serve, I firmly believe that there are substantial opportunities to extend Centice's ground-breaking technology into new markets."
Centice is commercializing sensor technology originally developed at Duke University.