TIDMNSCI

RNS Number : 1865J

NetScientific PLC

16 December 2015

NetScientific appoints diagnostics leader Lawrence Cohen

as CEO of Glycotest Inc.

London, UK - 16 December 2015 - NetScientific plc (AIM: NSCI, "NetScientific" or the "Group"), the transatlantic biomedical and healthcare technology group, today announces the appointment of Lawrence 'Larry' Cohen as CEO of its portfolio company, Glycotest, effective from 4 January 2016.

Glycotest is a molecular diagnostics company commercializing clinical laboratory testing services which reduce mortality and increase survival for patients at risk of liver cancers and fibrosis-cirrhosis. Larry's appointment will help accelerate the development and commercialisation of Glycotest's novel non-invasive blood tests.

Larry brings over 30 years' experience in the medical device and diagnostics sector. His most recent role was CEO of Exalenz Bioscience, a medical device company for the diagnosis and management of digestive tract and liver diseases. Previously, Larry worked in several senior level roles within the diagnostics sector, including as CEO of SenGenix, CEO of Hemosense and President of International Technidyne Corp. which grew 3 times under his leadership. Formerly, Larry was VP marketing and sales for global diagnostic companies including Beckman Instruments, Fisher Medical Group and Ortho Clinical Diagnostics, a Johnson & Johnson company.

Francois Martelet, Group CEO of NetScientific, commented: "Larry Cohen is a seasoned executive in the world of diagnostics, who will be instrumental in driving the delivery of Glycotest's novel tests. Our focus as a Group is to move our portfolio companies to commercialisation. Larry's appointment follows on from our recent appointment of Gene Walther as CEO of Vortex BioSciences, both will play a crucial part in our Diagnostics franchise once they start in their roles on 4 January 2016."

Larry Cohen said: "Glycotest has an important diagnostic testing capability which has the potential to make a significant impact on patients' lives. NetScientific and the Glycotest team have developed an extraordinary test; it is my aim to continue this momentum by bringing this test to the market."

- Ends -

Contact Details

 
 NetScientific Tel. +44 
  (0) 20 3514 1800 
  François R. Martelet, 
  M.D., CEO 
  Peter Thoms, CFO 
 Investec (NOMAD and broker) 
  Gary Clarence/Daniel Adams 
  Tel + 44 (0) 20 7597 4000 
 Instinctif Partners Tel. 
  +44 (0) 20 7457 2020 
  email: netscientific@instinctif.com 
  Melanie Toyne-Sewell / 
  Jayne Crook / Rosanna 
  Forrest

About NetScientific

NetScientific is a biomedical and healthcare technology group that funds and develops technologies that offer transformative benefits to people's lives and society through improved diagnosis, prognosis and treatment.

For more information, please visit the website at www.netscientific.net.

About Glycotest

Glycotest is a molecular diagnostics company commercializing clinical laboratory testing services to reduce mortality and increase survival for patients at risk for liver cancers and fibrosis-cirrhosis. Glycotest employs unique non-invasive blood tests based on proprietary serum biomarkers, biomarker panels and assay methodology that exploit novel sugar-based disease signal chemistry. Glycotest initially will make its testing services available to physicians who care for at-risk patients to help them identify those likely to have curable early-stage disease. Ultimately Glycotest intends to develop its tests into tools for prediction of therapeutic response and clinical outcome.

Glycotest was founded in 2012 on technology that originated at the Baruch S. Blumberg Institute (the Hepatitis B Foundation's research organization) and Drexel University College of Medicine in the laboratories of Dr. Timothy Block and Professor Anand Mehta. www.glycotest.com

This information is provided by RNS

The company news service from the London Stock Exchange

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December 16, 2015 02:00 ET (07:00 GMT)

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