HTG Appoints Biopharmaceutical Industry Veteran Christopher Kiritsy to its Board of Directors

Rhea-AI Summary

HTG Molecular Diagnostics (Nasdaq: HTGM) has appointed Christopher Kiritsy to its Board of Directors. Kiritsy, a seasoned biopharmaceutical industry expert, co-founded Arisaph Pharmaceuticals and served as its CEO, enhancing its drug discovery capabilities. His extensive experience includes a key role in building Kos Pharmaceuticals, contributing to its initial public offering and raising $500 million in public equity. HTG expects Kiritsy's expertise in corporate development and finance to bolster its therapeutic business as it aims to innovate in drug development.

Positive

• Appointment of Christopher Kiritsy as a Board Member brings extensive experience in biopharmaceuticals.
• Kiritsy's background in advancing drug discovery aligns with HTG's goals in therapeutic development.

Negative

• None.

Brings Significant Operational Experience in Building Therapeutic Drug Development Businesses

TUCSON, Ariz., Jan. 28, 2022 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company advancing precision medicine through its innovative transcriptome-wide profiling technology, announced it has appointed biopharmaceutical industry veteran Christopher Kiritsy to its Board of Directors.

Currently the Managing Member of Precision Kapital, LLC, a private investment and advisory firm, Mr. Kiritsy co-founded Arisaph Pharmaceuticals, Inc. (Arisaph) and served as its President and Chief Executive Officer until 2018. At Arisaph, Mr. Kiritsy evolved the drug discovery organization from its initial academic orientation into a clinical development enterprise, taking several cardiometabolic products into clinical development.

“Chris’s considerable experience in the pharmaceutical industry and breadth and depth of expertise in both corporate development and finance will be tremendous assets to HTG, particularly as we continue to evolve our therapeutics business,” said John Lubniewski, CEO of HTG. “We are delighted to welcome him to our Board of Directors.”

“HTG’s proprietary technology has the potential to significantly improve drug discovery, with the ability to reduce risk in the current drug development process and to identify potential problems, such as lack of efficacy or toxicity issues, much earlier and with far less downstream investment,” said Mr. Kiritsy. “I am delighted to be joining the Board at this exciting time for HTG and for the opportunity to leverage my experiences to help the company realize its vision to be an innovator in therapeutic drug development.”

Prior to Arisaph, Mr. Kiritsy served as Executive Vice President, Corporate Development and Chief Financial Officer of Kos Pharmaceuticals, Inc. (Kos), where he played a key operating role in the success of Kos’s Niaspan® franchise, and in building the company from a start-up to a highly profitable, publicly traded, fully integrated company. At Kos, which was acquired by Abbott Laboratories in 2006, he spearheaded more than 10 major corporate development transactions and raised approximately $500 million in public equity, including Kos’s initial public offering.

A graduate of Bowdoin College, Mr. Kiritsy also earned an M.B.A. from Boston University. In addition to HTG, he serves on the Board of Directors of Pieris Pharmaceuticals, Inc. (Nasdaq: PIRS), where he is Chair of the audit and compensation committees.

About HTG:

HTG is accelerating precision medicine from diagnosis to treatment by harnessing the power of transcriptome-wide profiling to drive translational research, clinical diagnostics and targeted therapeutics across a variety of disease areas.

Building on more than a decade of pioneering innovation and partnerships with biopharma leaders and major academic institutes, HTG’s proprietary RNA platform technologies are designed to make the development of life science tools and diagnostics more effective and efficient and to unlock a differentiated and disruptive approach to transformative drug discovery. For more information visit www.htgmolecular.com.

Forward-Looking Statements:

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the potential and ability of HTG’s proprietary technology. Words such as “believes,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management’s current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, risks associated with drug discovery and development; the risk that our RNA platform and medicinal chemistry technologies may not provide the benefits that we expect; risks associated with our ability to develop and commercialize our products; the risk that our products and services may not be adopted by biopharmaceutical companies or other customers as anticipated, or at all; our ability to manufacture our products to meet demand; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; risks associated with the impact of the COVID-19 pandemic on us and our customers; and product liability claims. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission (SEC), including under the “Risk Factors” heading of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, as filed with the SEC on November 10, 2021. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Contact:

Ashley Robinson
LifeSci Advisors
Phone: (617) 430-7577
Email: arr@lifesciadvisors.com 

FAQ

What is the significance of Christopher Kiritsy's appointment to HTG's Board of Directors?

Christopher Kiritsy's appointment is significant as he brings extensive experience in biopharmaceuticals and drug development, which can help HTG enhance its therapeutic business.

How does Christopher Kiritsy's background benefit HTG Molecular Diagnostics?

Kiritsy's background, particularly in corporate development and finance, will be beneficial for HTG as it seeks to innovate in drug development and improve its operational capabilities.

What role did Christopher Kiritsy play at Arisaph Pharmaceuticals?

At Arisaph Pharmaceuticals, Christopher Kiritsy served as President and CEO, transitioning the company from an academic focus to a clinical development enterprise.

What was Kiritsy's previous experience before joining HTG?

Before joining HTG, Kiritsy was Executive Vice President and CFO at Kos Pharmaceuticals, where he played a vital role in the company's growth and IPO.