Osmetech Inc. CEO James White, nearly a month after drumming up $8.6 million an an equity offering, is no longer with the company, according to news reports.
No word yet on the reason for White’s departure. Chairman Christopher Gleeson will do double duty as interim CEO while the The London-based molecular diagnostics maker looks for a replacement.
Announcing the results of the equity offering June 25, Osmetech said it planned to use the cash, $1 million of which came from Gleeson himself, to speed its respiratory pathogen test for H1N1 virus to market.
The infusion came just in time to save the patient (at least through 2009), as the company had said it only had enough cash on hand to fund operations until July.