SOUTH SAN FRANCISCO, Calif.,
Dec. 13, 2016 /PRNewswire/
-- Veracyte, Inc. (NASDAQ: VCYT), a genomic diagnostics
company that reduces unnecessary surgeries and healthcare costs by
resolving diagnostic uncertainty, today announced that Kevin K. Gordon, former chief operating officer
of Quintiles Transnational Holdings Inc., has been appointed to the
company's board of directors. Veracyte also announced that
Brian Atwood, who has served as
director and chairman since the company's founding, has elected to
step down from the board. Concurrently, Bonnie Anderson, Veracyte's president and chief
executive officer, has assumed the additional role of chairman of
the board and John L. Bishop will
become the lead independent director. All changes are effective as
of December 12, 2016.
"We are honored to welcome Kevin to our board of directors,"
said Ms. Anderson. "His knowledge, insight and years of healthcare
industry experience with large publicly held companies, combined
with his strong financial background, will be invaluable as we
scale the company and focus on achieving profitable growth."
Mr. Gordon served as executive vice president and COO of
Quintiles, a leading global bio-pharmaceutical services provider,
from October 2015 until its merger
with IMS Health in October 2016. He
served as the company's executive vice president and chief
financial officer from 2010 to 2015. The Fortune 500 company
recorded revenue of $4.3 billion in
2015 and was named to Fortune's list of the "World's Most
Admired Companies." Prior to that, Mr. Gordon spent 13 years in
senior leadership positions at Teleflex Incorporated, a diversified
global company with over $2 billion
in annual revenue, serving most recently as CFO. He previously held
senior management positions at KPMG.
"Veracyte is fundamentally improving patient care with its novel
focus on resolving diagnostic uncertainty and reducing unnecessary
surgeries," said Mr. Gordon. "I am delighted to join the Veracyte
board and look forward to helping the company achieve its growth
and profitability goals."
Ms. Anderson continued, "On behalf of the company and board of
directors, I would like to thank Brian for his extraordinary
dedication and guidance in building Veracyte into the formidable
diagnostics company that it is today. Because of his invaluable
leadership, Veracyte is well-positioned to create long-term,
sustained value for our shareholders."
About Veracyte
Veracyte (NASDAQ: VCYT) is
pioneering the field of molecular cytology, offering genomic
solutions that resolve diagnostic ambiguity and enable physicians
to make more informed treatment decisions at an early stage in
patient care. By improving preoperative diagnostic accuracy, the
company aims to help patients avoid unnecessary invasive procedures
while reducing healthcare costs. Veracyte's
Afirma® Thyroid FNA Analysis centers on the
proprietary Afirma Gene Expression Classifier (GEC) and is becoming
a new standard of care in thyroid nodule assessment. The Afirma
test is recommended in leading practice guidelines and is covered
for 185 million lives in the United
States, including through Medicare and many commercial
insurance plans. Veracyte is expanding its molecular
cytology franchise to other clinical areas, beginning with
difficult-to-diagnose lung diseases. In 2015, the company
launched the Percepta® Bronchial Genomic
Classifier, a test to evaluate patients with lung nodules that are
suspicious for cancer, which has already received draft Medicare
coverage. In October 2016,
Veracyte launched its second pulmonology product, the Envisia™
Genomic Classifier, to improve diagnosis of interstitial lung
diseases, including idiopathic pulmonary fibrosis. For more
information, please visit www.veracyte.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: "anticipate,"
"intend," "plan," "expect," "believe," "should," "may," "will" and
similar references to future periods. Examples of forward-looking
statements include, among others, our ability to successfully scale
the company and our belief that we are well positioned for
profitable growth. Forward-looking statements are neither
historical facts nor assurances of future performance. Instead,
they are based only on our current beliefs, expectations and
assumptions regarding the future of our business, future plans and
strategies, anticipated events and trends, the economy and other
future conditions. Forward-looking statements involve risks and
uncertainties, which could cause actual results to differ
materially, and reported results should not be considered as an
indication of future performance. These risks and uncertainties
include, but are not limited to: the applicability of clinical
results to actual outcomes; laws and regulations applicable to our
business, including potential regulation by the Food and Drug
Administration or other regulatory bodies; the size of
the market opportunity for our products; our ability to
successfully achieve adoption of and reimbursement for our
products; the amount by which use of our products are able to
reduce invasive procedures and misdiagnosis, and reduce healthcare
costs; the occurrence and outcomes of clinical studies; the timing
and publication of clinical study results; and other risks set
forth in the company's filings with the Securities and
Exchange Commission, including the risks set forth in the company's
Quarterly Report on Form 10-Q for the quarter ended September
30, 2016. These forward-looking statements speak only as of the
date hereof and Veracyte specifically disclaims any
obligation to update these forward-looking statements.
Veracyte, Afirma, Percepta, Envisia, the Veracyte logo, and the
Afirma logo are trademarks of Veracyte, Inc.
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SOURCE Veracyte