Specialty cancer diagnostics company Precipio,
Inc. (NASDAQ: PRPO) announces the appointment of Mr. Richard
Sandberg as Chairman of the Board of Directors. Dr. Douglas Fisher
will step down as Chairman and maintain his role as a Director on
the company’s board.
Mr. Sandberg has been
involved with Precipio since its inception and has acted in various
advisory roles. in 2019 he joined the company’s Board of Directors
and has been a significant contributor to helping the company
formulate strategy and execute on its plans.
Mr Sandberg is a
seasoned diagnostics executive with a substantial track record in
the field of diagnostics. As the founder, chairman, CEO and CFO of
Dianon Systems, Inc., a diagnostics company that was acquired in
2002 by LabCorp for $650M, Mr. Sandberg has direct experience
relevant to Precipio’s business, the industry, and the challenges a
growth company faces. Mr. Sandberg also serves as a director of
Poplar Healthcare, LLC, a privately owned anatomical pathology
laboratory with which the Company entered into a joint venture in
2020.
From 2008 to 2019, Mr.
Sandberg also served as Chairman of the Board of Oxford Immunotec,
which is being acquired by Perkin Elmer for over $550M, Mr.
Sandberg also serves as Chief Executive Officer of Resolys Bio,
Inc, a pharmaceutical company which is developing a treatment for
long-term, chronic traumatic brain injury.
“Precipio is
capitalizing on a unique opportunity to develop better diagnostic
technology in support of its university-based pathology
partnerships and to bring that technology to physician offices in
the US and abroad. I am pleased and fortunate to have the chance to
contribute to a company with so many opportunities to grow,” said
Mr. Sandberg.
“I have been fortunate
to have Dick Sandberg in my corner throughout the years as the
company navigated the challenges of developing its business model
and executing on its vision, and his counsel has been invaluable to
myself and my team”, said Ilan Danieli, CEO of Precipio, Inc. “I am
honored to have Dick assume the role as chairman of the board and
continue to be a driving force within the company’s
leadership.”
Dr. Douglas Fisher
joined the company’s board in 2017 and assumed the role of Chairman
in December 2019. During those years and under Doug’s leadership,
the company completed the transition following its merger with
Transgenomic; erased past liabilities and has developed a business
model that combines diagnostic services and products that have
already begun to significantly impact the company’s value. Doug
will continue to play a significant role as a director and will
remain a contributing member of the board.
“I’m so pleased that Dick has agreed to be
Chairman. It has been a pleasure to work with him as an
independent director. His experience in the field uniquely
qualifies him for this role, and I’m glad he is ready to step into
it,” said Doug Fisher.
About Precipio
Precipio has built a platform designed to
eradicate the problem of misdiagnosis by harnessing the intellect,
expertise and technology developed within academic institutions and
delivering quality diagnostic information to physicians and their
patients worldwide, as well as proprietary products that serve
laboratories worldwide. Through its collaborations with world-class
academic institutions specializing in cancer research, diagnostics
and treatment such as the Yale School of Medicine, Harvard’s
Dana-Farber Cancer Institute, and the University of Pennsylvania,
Precipio offers a new standard of diagnostic accuracy enabling the
highest level of patient care. For more information, please visit
www.precipiodx.com.
Please follow us on Twitter @PrecipioDx and on
Facebook.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, including, among others, statements related to
the expected or potential impact of the novel coronavirus
(COVID-19) pandemic, and the related responses of the government,
consumers, and the company, on our business, financial condition
and results of operations, and any such forward-looking statements,
whether concerning the COVID-19 pandemic or otherwise, involve
risks, assumptions and uncertainties. Except for historical
information, statements about future volumes, sales, growth, costs,
cost savings, margins, earnings, earnings per share, diluted
earnings per share, cash flows, plans, objectives, expectations,
growth or profitability are forward-looking statements based on
management’s estimates, beliefs, assumptions and projections. Words
such as “could,” “may,” “expects,” “anticipates,” “will,”
“targets,” “goals,” “projects,” “intends,” “plans,” “believes,”
“seeks,” “estimates,” “predicts,” and variations on such words, and
similar expressions that reflect our current views with respect to
future events and operational, economic and financial performance,
are intended to identify such forward-looking statements. These
forward-looking statements are only predictions, subject to risks
and uncertainties, and actual results could differ materially from
those discussed. Important factors that could affect performance
and cause results to differ materially from management’s
expectations, or could affect the company’s ability to achieve its
strategic goals, include the uncertainties relating to the impact
of COVID-19 on the company’s business, operations and employees and
the other factors that are described in the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis” in the
company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2019, as updated from time to time in the company’s
Securities and Exchange Commission filings.
The company’s forward-looking statements in this
press release are based on management’s current views, beliefs,
assumptions and expectations regarding future events and speak only
as of the date of this release. The company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by the federal securities
laws.
Inquiries:
investors@precipiodx.com
+1-203-787-7888 Ext. 523
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