Leading Molecular Diagnostics Executive Ronnie Andrews Appointed to OncoCyte’s Board of Directors
03 Avril 2018 - 1:00PM
OncoCyte Corporation (NYSE American:OCX) today
announced the appointment of Ronald Andrews, Jr., an executive with
over 30 years’ experience in the molecular diagnostics and genomics
industries, to the Company’s Board of Directors. The appointment of
Mr. Andrews brings the number of directors to seven and the number
of independent directors to four.
“Ronnie comes to us with an extensive background
in the molecular diagnostics industry, strengthening the Board’s
expertise as we advance the development of our product pipeline and
prepare for the launch of our lead product, DetermaVu™, later this
year,” commented Cavan Redmond, Chairman of the Board of Directors
of OncoCyte. “We are excited to have him join the board and look
forward to his contributions.”
Mr. Andrews is the Founder and Principal of The
Bethesda Group, a company focused on helping organizations in the
molecular diagnostics and genomics industries. Prior to founding
The Bethesda Group, he served as President of the Genetic Sciences
Division at Thermo Fisher Scientific following a merger with Life
Technologies, where he served as President of the Medical Sciences
Venture. During the merger, he oversaw the integration of Ion
Torrent with the traditional genetic platform and content
initiatives within Life Technologies to form a $2 billion division.
Previously, Mr. Andrews served as Chief Executive Officer and
Segment Leader of GE Molecular Diagnostics at Clarient Inc. from
2004 until 2012. During this time, he oversaw the transition into
GE Healthcare and established a strategic plan to integrate In Vivo
and In Vitro and expand GE’s presence in oncology. While at
Clarient, he transformed ChromaVision Medical Systems from a device
manufacturer to a comprehensive cancer diagnostics company. Mr.
Andrews currently serves on the Board of Directors of Insight
Genetics, Orion Healthcare, and Oxford Immunotec.
“Having spent my entire career in molecular
diagnostics, I am eager to lend my experience and expertise to the
Board and senior management as OncoCyte completes the development
and planned launch of its first product," commented Mr. Andrews. “I
believe that DetermaVu™ could create substantial value by helping
to improve clinical decision making in lung cancer diagnosis for
the millions of patients being tested for lung cancer
annually.”
About OncoCyte Corporation
OncoCyte is focused on the development and
commercialization of novel, non-invasive blood and urine (“liquid
biopsy”) diagnostic tests for the early detection of cancer. Early
detection of cancer can improve health outcomes, reduce the cost of
care, and improve patients’ quality of life. Liquid biopsy
diagnostic tests like those OncoCyte is developing may reduce the
need for costlier and riskier diagnostic procedures such as
invasive biopsy and cystoscopic procedures. OncoCyte’s development
pipeline is focused on non-invasive confirmatory diagnostic tests
for lung, breast, and bladder cancer. OncoCyte’s tests are being
developed using proprietary sets of genetic and protein molecular
markers that differentially express in specific types of cancer.
OncoCyte conducts ongoing research to identify additional molecular
markers, acquire or license markers and related technology, and
develop tests based on those markers.
Forward Looking Statements
Any statements that are not historical fact
(including, but not limited to statements that contain words such
as “will,” “believes,” “plans,” “anticipates,” “expects,”
“estimates” and similar expressions) are forward-looking
statements. These statements include those pertaining to the
implementation and results of research, development, clinical
trials and studies, commercialization plans, future financial
and/or operating results, and future opportunities for OncoCyte,
along with other statements about the future expectations, beliefs,
goals, plans, or prospects expressed by management. Forward-looking
statements involve risks and uncertainties, including, without
limitation, risks inherent in the development and/or
commercialization of potential diagnostic tests or products,
uncertainty in the results of clinical trials or regulatory
approvals, the capacity of our third-party supplied blood sample
analytic system to provide consistent and precise analytic results
on a commercial scale, the need and ability to obtain future
capital, and maintenance of intellectual property rights, and the
need to obtain third party reimbursement for patients’ use of any
diagnostic tests we commercialize. Actual results may differ
materially from the results anticipated in these forward-looking
statements and accordingly as such statements should be evaluated
together with the many uncertainties that affect the business of
OncoCyte, particularly those mentioned in the “Risk Factors” and
other cautionary statements found in OncoCyte’s Securities and
Exchange Commission filings. OncoCyte disclaims any intent or
obligation to update these forward-looking statements, except as
required by law.
Investor Contacts:
EVC Group LLCMatt Haines / Michael Polyviou917-733-9297 /
732-933-2754mhaines@evcgroup.com / mpolyviou@evcgroup.com
Financial Media Contact:
GIBSON Communications, LLCTom
Gibson201-476-0322tom@tomgibsoncommunications.com
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