Cytek Biosciences Appoints Dr. Philippe Busque Senior Vice President of Global Sales & Services
- Appointment of Philippe Busque strengthens sales organization and leadership
- Acquisition provides expanded market access and new product development opportunities
- Chief Commercial Officer Todd Garland leaving for another opportunity
Sales Organization Enhanced, Platform Organization Created
FREMONT, Calif., Aug. 28, 2023 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, today announced the appointment of Philippe Busque, Ph.D. as Senior Vice President of Global Sales & Services. In this newly created position, Dr. Busque will lead an enhanced global sales organization encompassing all customer facing functions worldwide, including sales, service, and technical application support, building on the recently integrated sales team that combines the original Cytek sales force with the Amnis® and Guava® sales force.
“Philippe’s extensive global sales and marketing experience as an executive at several life science companies, including Johnson & Johnson, Sony Biotechnology, and BD Biosciences, makes him an outstanding choice to lead our sales organization. Prior to his experience in sales, Philippe was trained as a scientist with a master’s degree in microbiology and Ph.D. in Immunology, giving him insight into Cytek’s customers’ full solution needs,” commented Dr. Wenbin Jiang, CEO of Cytek.
Cytek’s acquisition of the Amnis and Guava product lines from Luminex Corporation in February 2023 provided the Company with expanded market access, new product development opportunities, and operational synergies. To take advantage of these expanded market and product development opportunities, Cytek is reorganizing its Commercial function into two distinct operations: the enhanced sales organization led by Dr. Busque, and a new Platform organization, which will encompass marketing, product roadmaps, and program management. The Company believes the new structure will support the Company’s transition toward a market-driven organization and to develop and sell cell analysis solutions based on market-derived inputs. These market inputs will shape Cytek’s research, new product, and applications development, and its approach to interacting with customers.
In parallel with these enhancements, Cytek’s Chief Commercial Officer, Todd Garland, is leaving Cytek for another opportunity. “We appreciate Todd’s contributions in building Cytek’s commercial team and helping shape this enhanced sales organization, which, I believe, will enable Cytek to better serve our customers, be more responsive to market signals, accelerate our revenue growth and profitability, and increase our market presence,” said Dr. Jiang. “Our sales teams are excited about the combination of our commercial organizations and the opportunities brought to us through the transition toward a market-driven focus, which is another strong validation of our commitment to delivering full cell analysis solutions to our customers.”
About Cytek Biosciences, Inc.
Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek’s FSP platform includes its core instruments, the Aurora and Northern Lights™ systems; its cell sorter, the Aurora CS; the flow cytometer and imaging products under the Amnis® and Guava® brands; and reagents, software and services to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at www.cytekbio.com.
Other than Cytek’s Northern Lights CLC system and certain reagents for use therewith, which are available for clinical use in countries where the regulatory approval has been obtained from the local regulatory authorities, including China and the European Union, Cytek’s products are for research use only and not for use in diagnostic procedures.
Cytek, Full Spectrum Profiling, FSP, Northern Lights, Amnis and Guava are trademarks of Cytek Biosciences, Inc.
In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page and corporate “X” (formerly Twitter) account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek’s website, LinkedIn page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might," "will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding Cytek’s market and product development opportunities and the anticipated benefits of the enhanced sales organization, including Cytek’s ability to better serve its customers, be more responsive to market signals, accelerate its revenue growth and profitability, and increase its market presence. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as those relating to global economic and market conditions; Cytek’s ability to recognize the anticipated benefits of the acquired flow cytometry and imaging business; Cytek’s dependence on certain sole and single source suppliers; competition; market acceptance of Cytek’s current and potential products; Cytek’s ability to manage the growth and complexity of its organization, maintain relationships with customers and suppliers and retain key employees; Cytek’s ability to maintain, protect and enhance its intellectual property; and Cytek’s ability to continue to stay in compliance with its material contractual obligations, applicable laws and regulations. You should refer to the section entitled “Risk Factors” set forth in Cytek’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2023 and other filings Cytek makes with the SEC from time to time for a discussion of important factors that may cause actual results to differ materially from those expressed or implied by Cytek’s forward-looking statements. Although Cytek believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. The forward-looking statements in this press release are based on information available to Cytek as of the date hereof, and Cytek disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Cytek’s views as of any date subsequent to the date of this press release.
Media Contact:
Stephanie Olsen
Lages & Associates
(949) 453-8080
stephanie@lages.com
Investor Contact:
Paul Goodson
Head of Investor Relations
Cytek Biosciences
pgoodson@cytekbio.com
