Seasoned Diagnostics Sales Executive Joins OncoCyte to Drive Commercialization and Future Sales Initiatives of DetermaVu™, ...
September 05 2017 - 7:00AM
OncoCyte Corporation (NYSE AMERICAN:OCX), a
developer of novel, non-invasive tests for the early detection of
cancer, today announced that Michael G. Vicari has been appointed
to the newly created position of Vice President of Sales. Mr.
Vicari will report directly to William Annett, President and Chief
Executive Officer. He will be responsible for the development and
successful implementation of the Company’s domestic and
international sales strategies, with an initial focus on the
expected fourth quarter U.S. launch of DetermaVu™, the Company’s
liquid biopsy lung cancer diagnostic.
“Our commitment to building out and executing
our sales strategy reflects our plan to make DetermaVu™ the first
test of its kind to reach the medical market, and we expect the
U.S. commercial launch in the fourth quarter of this year,” said
Mr. Annett. “Michael’s experience building and leading sales
organizations at major diagnostic companies, and proven success in
driving significant revenues, will be invaluable as we launch
DetermaVu™ and drive adoption by physicians.”
Mr. Vicari brings 35 years of successful sales
and marketing leadership within the healthcare industry, including
the launch of several important diagnostic products. Before joining
OncoCyte, he was with Eurofins Scientific as Vice President of
Sales & Marketing for the Clinical Diagnostics business where
he established two separate sales and marketing organizations for
EGL (rare genetic testing) & NTD (prenatal testing) while
leading all commercial functions.
Prior to Eurofins, he was Vice President of
Sales for Sequenom, Inc., leading sales and strategy for nearly
five years. While at Sequenom, Mr. Vicari led the successful
launch of their revolutionary women’s health test, NIPT MaterniT21,
and launching of the Universal Carrier Screen, NIPT VisibiliT, and
drove overall Sequenom sales from $0 to over $150 million per year.
Prior to Sequenom, Mr. Vicari was the Vice President of Sales and
Marketing for Oncology/HIV at Monogram Biosciences before it was
acquired by LabCorp. In this role, he led sales, marketing and
clinical training and also managed the launch of HerMark for breast
cancer. Mr. Vicari has served in senior commercial leadership roles
at Genentech, Corixa Oncology, and MedImmune.
“OncoCyte is approaching an exciting inflection
point as it prepares for the anticipated launch of DetermaVu™, and
I’m thrilled that I will be spearheading the launch and commercial
rollout of this important product,” commented Mr. Vicari.
“DetermaVu™ has the potential to change the paradigm in lung cancer
diagnostics, thereby saving lives and lowering treatment costs for
millions of patients by helping to identify lung cancer at an
earlier, more treatable stage, and reducing the need for
potentially dangerous and expensive invasive biopsies. I look
forward to working tirelessly with the entire team to make
DetermaVu™ a commercial success.”
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 to
improve health outcomes through earlier diagnoses, to reduce the
cost of care through the avoidance of more costly diagnostic
procedures, including invasive biopsy and cystoscopic procedures,
and to improve the quality of life for cancer patients. While
current biopsy tests use invasive surgical procedures to provide
tissue samples in order to determine if a tumor is benign or
malignant, OncoCyte is developing a next generation of diagnostic
tests that will be based on liquid biopsies using blood or urine
samples. OncoCyte’s pipeline products are intended to be
confirmatory diagnostics for detecting lung, breast and bladder
cancer. OncoCyte’s diagnostic tests are being developed using
proprietary sets of genetic and protein markers that differentially
express in specific types of cancer.
DetermaVu™ is a trademark of OncoCyte
Corporation
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 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 as such
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, Inc.
Matt Haines / Michael Polyviou
917-733-9297 / 212-850-5600
mhaines@evcgroup.com /mpolyviou@evcgroup.com
Financial Media Contact
GIBSON Communications, LLC
Tom Gibson
201-476-0322
tom@tomgibsoncommunications.com