On The Spot e-News
Volume 3, Issue 8 | August 2008
Special Issue
- Signature Genomic Laboratories Named to Inc. 5000
- Shaffer, of Signature Genomic Laboratories, Named Top Female CEO
Signature Genomic Laboratories Named to Inc. 5000
Signature Genomic Laboratories was named to Inc. magazine’s "Inc. 5000" list of the fastest-growing private companies in the country. Signature was ranked 114 overall and 5th in the Health sector, with 1,766.4% three-year growth from 2004 to 2007. Signature was ranked 1st overall in Spokane and 4th in the state of Washington.
Commented Lisa G. Shaffer, Ph.D., President and CEO of Signature, "We are honored to be recognized for our well-planned strategic growth, which we have accomplished while maintaining the level of personal service and technical expertise on which our reputation was built."
The 2008 Inc. 5000 list measures revenue growth from 2004 through 2007. To qualify, companies must be U.S.-based and privately held, for profit, independent—not subsidiaries or divisions of other companies—as of December 31, 2007, and have had at least $200,000 in revenue in 2004, and $2 million in 2007.
Founded by Drs. Lisa G. Shaffer, Ph.D. and Bassem A. Bejjani, M.D. in 2003, Signature was the first laboratory to provide microarray-based diagnostic testing of individuals with mental retardation and birth defects with its proprietary SignatureChip®. Opening its doors with three employees, Signature began offering testing in March of 2004, and by August of that year was making a profit. In 2006, Signature posted over $9 million in revenue; the company posted $13.5 million in revenue in 2007. In 2007, Signature began offering research-use-only microarrays for sale to laboratories for in-house use. In 2007, Ampersand Ventures, a private equity firm focusing on investments in the health care and industrial technology sectors, and in 2008 jVen Capital, a life sciences investment company with a focus in the areas of biotechnology, diagnostics, and medical devices, acquired stakes in Signature. In June, Signature relocated to a new 18,000-square-foot facility in north Spokane; the new headquarters provides the wet-laboratory and administrative space necessary to accommodate Signature’s rapid growth. Signature now has 76 employees and has processed over 25,000 cases since its inception.
"It’s the first time in my life I’ve ever received thank-you notes from families because we are able to give them answers," said Shaffer. "We’re truly making a difference in their lives."
Shaffer, of Signature Genomic Laboratories, Named Top Female CEO
Inc. magazine ranked Lisa G. Shaffer, President and CEO of Signature Genomic Laboratories, 8th on its list of top female CEOs in the fastest-growing private companies in America. The list was released in conjunction with the magazine’s "Inc. 5000" list of fast-growing companies in America.
Commented Dr. Bejjani, Chief Medical Officer of Signature, "In the midst of a very successful academic career that would satisfy any professional, male or female, Dr. Shaffer undertook an enormous professional and personal risk and entered the private sector to pioneer the use of a technology that was untested in the clinical setting at that time. Having closely worked with Dr. Shaffer for 13 years, I know that she is never less than perfect in her endeavors. Therefore, although this is a highly exclusive list, I am not surprised to see Dr. Shaffer’s name on it."
Evan Jones, Chairman of the Board of Directors of Signature Genomic Laboratories, commented, "Lisa Shaffer has done an outstanding job building Signature into a leading genetic testing business in just four years. Congratulations to Lisa and the entire Signature team for this important recognition from Inc."
Dr. Shaffer is an internationally respected expert on the chromosomal basis of human genetic disease. Currently she is the North American Editor for the journal Molecular Cytogenetics, and on the editorial boards of the journals Genetics in Medicine, Prenatal Diagnosis, and Cytogenetics and Genome Research. Dr. Shaffer has authored over 200 scholarly articles and almost two dozen book chapters. She is the chair of the International Standing Committee on Human Cytogenetics Nomenclature (ISCN) and is a Board member and the Treasurer of the American College of Medical Genetics. Dr. Shaffer received her B.S. in Biology from Washington State University and her Ph.D. in Human Genetics at the Medical College of Virginia.