PISCATAWAY, N.J.--(BUSINESS WIRE)--Today, Infinity BiologiX, a leading next-generation central laboratory providing sample collection and processing, storage, analytical services, and scientific and technical support, announced the latest addition to its executive team, naming Amit Bhalla as Vice President and Chief Financial Officer.
In this role, Bhalla will be tasked with leading IBX’s financial functions as the company enters its next phase of growth following its August spin-off from Rutgers University. He joins IBX at a time of rapid progress. Earlier this year, IBX received FDA emergency use authorization for its innovative COVID-19 saliva test which was the first test to utilize saliva as the primary biomaterial for SARS-CoV-2. The company now has the capacity to process 100,000 tests daily and just last month opened an additional lab in Minnesota with an additional 30,000 tests daily, to serve the state’s testing needs. IBX also just announced the launch of the company’s Vaccine Storage Program which will be used to support both the ultra-low temperature storage and distribution of the COVID-19 vaccine.
“As a leader, Amit brings to IBX the right blend of deep financial and investment expertise along with business development and corporate strategy experience,” explained Robin Grimwood, IBX President and COO. “His focus and knowledge of the healthcare industry, both as a leading Wall Street analyst and an industry executive will be invaluable for IBX as we evaluate areas of strategic expansion and amplification of our commercial presence. We are excited that Amit has chosen to now partner with us on our next stage of growth at IBX.”
Bhalla comes to IBX with more than 20 years of Wall Street and healthcare industry experience. His background in finance, strategy and business development includes experience in equity investing as well as sourcing, negotiating, and integrating transformational & tuck-in M&A. Most recently he served as Senior Healthcare Analyst at Lord, Abbett & Co. where he was responsible for active healthcare investments across all market caps and healthcare verticals in seven Lord Abbett funds. His previous experience also includes senior roles at Becton Dickinson, Citigroup, Morgan Stanley and Johnson & Johnson.
Bhalla commented, “As I was assessing my next opportunity, I knew I wanted to join an organization recognized for both its innovation and market presence but also importantly, one where I could make an impact. My time in various roles in the healthcare industry has helped me to evaluate the strength of a company by reviewing its market fit, track record of proven success, plans for future growth, and executive team’s ability to lead an organization and reach its goals. IBX checks every box. I look forward to working closely with the team as the company continues to scale, increase its footprint, and positively impact the healthcare system.”
Today’s announcement follows other recent IBX executive appointments including Craig Eslinger as Vice President of Commercial Affairs and Mary Storella as Vice President and General Counsel. Other members of the executive team include Dr. Andrew Brooks, Chief Executive and Scientific Officer, Robin Grimwood, President and COO and Russell Hager, Executive VP, Strategic Operations.
About Infinity BiologiX
Infinity BiologiX (IBX) is a market-disrupting next-generation central laboratory supporting academia, government, and industry. IBX provides global sample collection, processing, storage, and analytical services integrated with scientific and technical support in both the research and clinical arenas. As a leader in biomaterials, IBX provides support to the development of diagnostics, therapeutics, and research in the genomics, precision, and regenerative medicine arenas. IBX previously operated as RUCDR Infinite Biologics before spinning off from Rutgers University-New Brunswick in August 2020
For more information, visit www.ibx.bio.
