Quantum-Si Appoints Jeff Hawkins as Chief Executive Officer
October 04 2022 - 8:00AM
Business Wire
Veteran Life Sciences Executive to
Oversee Commercial Launch of Next-Generation Single-Molecule
Protein Sequencing Platform
Quantum-Si Incorporated (Nasdaq: QSI) (“Quantum-Si,” “QSI” or
the “Company”), a life sciences company commercializing the first
next-generation single-molecule protein sequencing platform, today
announced the appointment of Jeff Hawkins as Chief Executive
Officer. Mr. Hawkins will succeed Dr. Jonathan Rothberg, Founder
and Executive Chairman of Quantum-Si, who has also been serving as
Interim Chief Executive Officer, and lead the next phase of growth
as the Company prepares to launch the Platinum™ instrument, which
will be the industry’s first system to enable next generation,
single-molecule protein sequencing. This appointment is effective
October 10, 2022.
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“I’m thrilled to welcome Jeff to Quantum-Si. He is a proven
business leader and life sciences inventor with decades of
experience driving commercial excellence and execution in both
early-stage and mature companies,” said Dr. Rothberg. “Jeff was
instrumental in identifying key market segments and scaling next
generation DNA sequencing at Illumina, making him an ideal CEO to
leverage this experience at Quantum-Si with next-generation protein
sequencing.”
Mr. Hawkins brings over 20 years of experience at the world’s
leading life science and diagnostics companies as an accomplished
business leader and inventor. Prior to Quantum-Si, he was President
and Chief Executive Officer of Truvian Sciences, Inc. where he led
the evolution of the company’s benchtop blood testing system from a
product concept through technology feasibility and into late-stage
development. Prior to Truvian, Mr. Hawkins led the Reproductive and
Genetic Health Business Unit at Illumina, Inc., where he oversaw
the rapid global growth of next-generation sequencing into new and
emerging markets. During his Illumina tenure, the business unit
more than doubled in revenue and established clear market
leadership across every major product line and geographic region.
Before Illumina, Mr. Hawkins held roles of increasing
responsibility across multiple functional areas for GenMark,
Hologic, Third Wave Technologies and Abbott Laboratories.
“I am excited to be joining this dynamic company that is on the
cusp of revolutionizing next-generation protein sequencing,” said
Hawkins. “Quantum-Si’s technology has the ability to make the power
of single-molecule protein sequencing affordable and readily
available, and I am looking forward to leading this exceptional
team as we advance the launch of our revolutionary system, and work
to make it an indispensable tool for life sciences research.”
Mr. Hawkins holds a B.A. in Chemistry with honors from Concordia
University and an MBA from Keller Graduate School of Management. He
is co-inventor on 10 issued or pending patents spanning
consumables, instrumentation, optics, manufacturing methods and
designs.
Inducement Awards
In connection with Mr. Hawkins’ appointment, subject to Mr.
Hawkins commencing employment, the Company’s Board of Directors,
among other things, authorized the grant to Mr. Hawkins of (i)
1,390,000 performance-based stock options to purchase shares of the
Company’s Class A common stock, which will vest in full if within
1.5 years of his start date the Class A common stock closing price
is at least $10.00 (as adjusted) for 20 out of 30 consecutive
trading days; and (ii) 1,390,000 performance-based stock options to
purchase shares of the Company’s Class A common stock, which will
vest in full if within 3.5 years of his start date the Class A
common stock closing price is at least $20.00 (as adjusted) for 20
out of 30 consecutive trading days (together, the “Inducement
Awards”). The Inducement Awards are inducements material to Mr.
Hawkins entering into employment with the Company in accordance
with Nasdaq Rule 5635(c)(4). The Inducement Awards will have an
exercise price equal to the fair market value of the Company’s
Class A common stock on the second business day following the
Company’s earnings call with respect to the quarter ended September
30, 2022. The Inducement Awards each have a ten year term and are
subject to the terms and conditions of their respective stock
option agreements.
About Quantum-Si Incorporated
Quantum-Si is focused on revolutionizing the growing field of
proteomics. The Company's suite of technologies is powered by a
first-of-its-kind semiconductor chip designed to enable
single-molecule next-generation protein sequencing and digitize
proteomic research in order to advance drug discovery and
diagnostics beyond what has been possible with DNA sequencing.
Learn more at www.quantum-si.com.
Forward Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. The actual
results of the Company may differ from its expectations, estimates,
and projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as "expect," "estimate," "project," "budget," "forecast,"
"anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue," and similar
expressions (or the negative versions of such words or expressions)
are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, the
Company's expectations with respect to future performance and
development and commercialization of products and services. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from those discussed in the forward-looking statements.
Most of these factors are outside the Company's control and are
difficult to predict. Factors that may cause such differences
include, but are not limited to: the impact of COVID-19 on the
Company's business; the inability to maintain the listing of the
Company's Class A common stock on The Nasdaq Stock Market; the
ability to recognize the anticipated benefits of the business
combination, which may be affected by, among other things,
competition and the ability of the Company to grow and manage
growth profitably and retain its key employees; our ongoing
leadership transition; changes in applicable laws or regulations;
the ability of the Company to raise financing in the future; the
success, cost and timing of the Company's product development and
commercialization activities; the potential attributes and benefits
of the Company's products and services; the Company's ability to
obtain and maintain regulatory approval for its products, and any
related restrictions and limitations of any approved product; the
Company's ability to identify, in-license or acquire additional
technology; the Company's ability to maintain its existing lease,
license, manufacture and supply agreements; the Company's ability
to compete with other companies currently marketing or engaged in
the development or commercialization of products and services that
the Company is developing; the size and growth potential of the
markets for the Company's future products and services, and its
ability to serve those markets, either alone or in partnership with
others; the pricing of the Company's products and services
following anticipated commercial launch; the Company's estimates
regarding future expenses, future revenue, capital requirements and
needs for additional financing; the Company's financial
performance; and other risks and uncertainties described under
"Risk Factors" in the Company’s Annual Report for the fiscal year
ended December 31, 2021, and in the Company's other filings with
the SEC. The Company cautions that the foregoing list of factors is
not exclusive. The Company cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. The Company does not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in its expectations or any change in events, conditions, or
circumstances on which any such statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20221004005256/en/
Investors Juan Avendano ir@quantum-si.com
Media Shawna Marino media@quantum-si.com
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