Expanded Board to build on company’s recent successes in oncology diagnostics and COVID-19 testing
Biocept (Nasdaq: BIOC), a leading provider of molecular diagnostic assays, products and services, has appointed Linda Rubinstein and Antonino Morales to its Board of Directors, effective immediately. The company also named Director Samuel D. Riccitelli as Chairman of the Board, succeeding long-time Chair David Hale and interim Chair M. Faye Wilson, both of whom remain Directors.
Rubinstein and Morales each brings extensive financial expertise and leadership experience to the Board, supporting Biocept’s focus on strategic growth and the advancement of its oncology diagnostics franchise. With these two additions, Biocept’s Board will increase from seven Directors to nine.
“We are proud to expand and strengthen our Board of Directors with these new appointments, which we believe will support recent business momentum and guide our long-term success,” said Michael Nall, President and CEO of Biocept. “Sam will provide strong governance, leadership and insight as Chairman, while Linda and Antonino bring fresh perspectives, diverse backgrounds and a wealth of valuable experience to the Board. We are especially grateful to David Hale for serving as our previous Chairman and to Faye Wilson for stepping up as interim Chair.”
Rubinstein has over 30 years of financial and capital markets experience in life sciences and investment banking. As CFO of public and private companies, she has contributed to strategy and operations, executed financial transactions, and delivered corporate and investor positioning. Since 2010 she has been a partner at FLG Partners, where she provides financial and strategic consulting services to life science and other companies such as Apexigen, ArmaGen, Five Prime, Kezar Life Sciences, Ingenuity Systems, iPierian and True North. Previously, she was a Principal at RDJ Advisors. Rubinstein also served as Vice President and CFO at Solexa, a biotech company with a leading DNA sequencing platform for genetic analysis, where in 2006 she helped negotiate the sale to Illumina, a global leader in genomics.
Morales is a CPA and brings more than 30 years of broad international executive leadership experience in financial consulting, business development, operations, regulatory compliance, and risk management. He has worked with leading organizations such as Citibank, Bank of America, Arthur Anderson and Mazda North America, as well as with entrepreneurial start-ups. Most recently, Morales was president and CEO of Apoyo Financiero, Inc., a California based Community Development Financial Institution where he led a major digital transformation of the business model resulting in increased sales and profit growth.
Riccitelli was appointed to the Biocept Board of Directors in October 2020. He has more than 35 years of experience in the healthcare industry and currently serves as an independent consultant to healthcare companies and as a Director of OrthoPediatrics Corp.
“I am honored to have the opportunity to serve as Biocept’s Chairman of the Board,” Riccitelli said. “The company is making remarkable strides in oncology diagnostics, especially in neuro-oncology with the recent launch of the CNSide™ cerebrospinal fluid assay to aid in the identification and management of brain metastases. This esteemed group of Directors, now with the addition of Linda and Antonino, is committed to furthering Biocept’s strategic growth initiatives and advancing its molecular diagnostic services, with the ultimate goal of helping to improve clinical outcomes for patients with cancer.”
Biocept, Inc. develops and commercializes molecular diagnostic assays that provide physicians with clinically actionable information for treating and monitoring patients diagnosed with a variety of cancers. In addition to its broad portfolio of blood-based liquid biopsy assays, Biocept has developed the CNSide™ cerebrospinal fluid assay that detects cancer that has metastasized to the central nervous system. Biocept’s patented Target Selector™ technology captures and quantitatively analyzes CSF tumor cells for tumor-associated molecular markers, using technology first developed for use in blood. Biocept also is leveraging its molecular diagnostic capabilities to offer nationwide COVID-19 RT-PCR testing to support public health efforts during this unprecedented pandemic. For more information, visit www.biocept.com. Follow Biocept on Facebook, LinkedIn and Twitter.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. To the extent that statements in this release are not strictly historical, including without limitation statements regarding the ability of Biocept’s molecular diagnostic assays to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with a variety of cancers, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous risks and uncertainties, including the risk that our products and services may not perform as expected. These and other risks are described in greater detail under the "Risk Factors" heading of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. The effects of such risks and uncertainties could cause actual results to differ materially from the forward-looking statements contained in this release. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law. Readers are advised to review our filings with the SEC, which can be accessed over the Internet at the SEC's website located at www.sec.gov.