Interpace Biosciences Announces Appointment of Vijay Aggarwal, Ph.D. as New Director
27 Janeiro 2022 - 6:05PM
Interpace Biosciences , Inc. (OTCQX: IDXG) (“Interpace”) a leader
in enabling personalized medicine, is pleased to announce today
that Vijay Aggarwal, Ph.D., has been appointed to the Interpace
Board of Directors effective February 1, 2022. Dr. Aggarwal
replaces Eric B. Lev, both designees of Ampersand 2018 Limited
Partnership, a Series B Preferred stockholder of the Company.
Dr. Aggarwal has over thirty years of experience
in both pharmaceutical services and clinical diagnostics. In
addition to serving as Managing Partner of The Channel Group, Dr.
Aggarwal provides strategic advisory services to companies with
operations or investments in the clinical diagnostics, molecular
diagnostic and anatomic pathology sectors. Dr. Aggarwal has
previously served as CEO of Vaxigenix, a pharmaceutical company
developing vaccine treatments for colorectal cancer, as President
and CEO of Aureon Laboratories, Inc., a predictive pathology
company offering advanced tissue analysis services to practicing
physicians and the pharmaceutical industry, as President of AAI
Development Services, Inc., a global contract research and
development services company serving the pharmaceutical and biotech
industries, and as President of Quest Diagnostic Ventures, where he
had responsibility for new technology, new business models,
clinical trials testing, and direct–to-consumer strategies. Earlier
in his career, Dr. Aggarwal held many positions with SmithKline
Beecham Clinical Laboratories (“SBCL”), the clinical laboratory
operations of SmithKline Beecham plc, including direct
responsibility for all of SBCL’s U.S.-based laboratories as
Executive Vice President of Laboratories, responsibility for
reimbursement as Vice President of Managed Care and several General
Management assignments.
“We are very excited to welcome Dr. Aggarwal to
our Board of Directors,” stated Thomas Burnell, President and CEO
of Interpace. “We believe that with his background and experience
he will make a significant contribution to the anticipated growth
of our company in clinical services as well as pharma services. We
would also like to thank Eric Lev for his service and contributions
as a director in transforming Interpace from a molecular diagnostic
testing and service company into a broader based biosciences
business including biopharma services that has been capitalized
with two well-known private equity firms,” continued Mr.
Burnell.
About Interpace
Biosciences
Interpace Biosciences is an emerging leader in
enabling personalized medicine, offering specialized services along
the therapeutic value chain from early diagnosis and prognostic
planning to targeted therapeutic applications.
Clinical services, through Interpace
Diagnostics, provides clinically useful molecular diagnostic tests,
bioinformatics and pathology services for evaluating risk of cancer
by leveraging the latest technology in personalized medicine for
improved patient diagnosis and management. Interpace has five
commercialized molecular tests and one test in a clinical
evaluation program (CEP): PancraGEN® for the diagnosis and
prognosis of pancreatic cancer from pancreatic cysts; PanDNA, a
“molecular only” version of PancraGEN® that provides physicians a
snapshot of a limited number of factors; ThyGeNEXT® for the
diagnosis of thyroid cancer from thyroid nodules utilizing a next
generation sequencing assay; ThyraMIR® for the diagnosis of thyroid
cancer from thyroid nodules utilizing a proprietary gene expression
assay; and RespriDX® that differentiates lung cancer of primary
versus metastatic origin. In addition, BarreGEN®, a molecular based
assay that helps resolve the risk of progression of Barrett’s
Esophagus to esophageal cancer, is currently in a clinical
evaluation program (CEP) whereby we gather information from
physicians using BarreGEN® to assist us in gathering clinical
evidence relative to the safety and performance of the test and
also providing data that will potentially support payer
reimbursement.
Pharma services, through Interpace Pharma
Solutions, provides pharmacogenomics testing, genotyping,
biorepository and other customized services to the pharmaceutical
and biotech industries. Pharma services also advances personalized
medicine by partnering with pharmaceutical, academic, and
technology leaders to effectively integrate pharmacogenomics into
their drug development and clinical trial programs with the goals
of delivering safer, more effective drugs to market more quickly,
while also improving patient care.
For more information, please visit Interpace
Biosciences’ website at www.interpace.com.
Forward-looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934 and the
Private Securities Litigation Reform Act of 1995, relating to the
Company's future financial and operating performance. The Company
has attempted to identify forward looking statements by terminology
including "believes," "estimates," "anticipates," "expects,"
"plans," "projects," "intends," "potential," "may," "could,"
"might," "will," "should," "approximately" or other words that
convey uncertainty of future events or outcomes to identify these
forward-looking statements. These statements are based on current
expectations, assumptions and uncertainties involving judgments
about, among other things, future economic, competitive and market
conditions and future business decisions, all of which are
difficult or impossible to predict accurately and many of which are
beyond the Company's control. These statements also involve known
and unknown risks, uncertainties and other factors that may cause
the Company's actual results to be materially different from those
expressed or implied by any forward-looking statements, including,
but not limited to, the adverse impact of the COVID-19 pandemic on
the Company’s operations and revenues, the substantial doubt about
the Company’s ability to continue as a going concern, the
possibility that the Company’s estimates of future revenue, cash
flows and adjusted EBITDA may prove to be materially inaccurate,
the Company’s history of operating losses, the Company’s ability to
adequately finance its business, the Company’s ability to
successfully complete its rights offering, the Company’s ability to
repay borrowings with Comerica Bank and BroadOak, the Company’s
dependence on sales and reimbursements from its clinical services,
the Company’s ability to retain or secure reimbursement including
its reliance on third parties to process and transmit claims to
payers and the adverse impact of any delay, data loss, or other
disruption in processing or transmitting such claims, and the
Company’s revenue recognition being based in part on estimates for
future collections which estimates may prove to be incorrect.
Additionally, all forward-looking statements are subject to the
“Risk Factors” detailed from time to time in the Company’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2020, as
amended, Current Reports on Form 8-K and Quarterly Reports on Form
10-Q filed with the Securities and Exchange Commission. Because of
these and other risks, uncertainties and assumptions, undue
reliance should not be placed on these forward-looking statements.
In addition, these statements speak only as of the date of this
press release and, except as may be required by law, the Company
undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
Contacts:Investor RelationsInterpace Biosciences, Inc.(855)
776-6419Info@Interpace.com
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