NOWDiagnostics Welcomes Dr. Stephen S. Tang as Chairman of the Board

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NOWDiagnostics (NOWDx) appoints Dr. Stephen S. Tang, former head of OraSure Technologies, as the chairman of the board. Dr. Tang brings extensive experience in the medical diagnostic industry, having led OraSure Technologies to significant growth and product development during his tenure.

Former Head of OraSure Technologies Joins at Key Stage Leading up to Company’s Product Launch

SPRINGDALE, Ark.--(BUSINESS WIRE)-- NOWDiagnostics (NOWDx), a developer of over-the-counter (OTC) and point-of-care (POC) diagnostics tests and first-in-class technology and platforms, today announced the appointment of Dr. Stephen S. Tang, Ph.D., MBA, as the chairman of the company’s board of directors.

NOWDiagnostics (NOWDx) Welcomes Dr. Stephen S. Tang as Chairman of the Board (Photo: Business Wire)

Dr. Tang is a longtime veteran of the medical diagnostic industry. He led OraSure Technologies, Inc. (NASDAQ: OSUR), a pioneer and global leader in rapid at-home tests for HIV and COVID-19, for ten years as president and CEO, chairman of the board of directors, and chairman of the compensation committee. During his tenure as president and CEO, OraSure launched more FDA-cleared products, vastly expanded its sales, and developed and acquired more innovative products and services in its history.

“I am delighted and enthusiastic about joining the NOWDx team as their chairman of the board,” said Dr. Tang. “For many years, the medical diagnostic industry has sought to bring in-home tests from the lab to regulatory approval and widespread consumer use. More than ever, NOWDx brings us all closer to fulfilling that vision for better, more accessible healthcare for everyone with its in-home test, with in-home results in minutes platform. I am honored to join a talented and engaged board of directors to assist a highly capable and experienced team led by CEO Rob Weigle.”

Prior to leading OraSure, Dr. Tang was president and CEO of the University City Science Center in Philadelphia, the mid-Atlantic region's premier innovation hub for life science companies. He also led Olympus America's Life Sciences Group, which included laboratory diagnostic, microscope, and translational research instruments. He earned his BS in Chemistry from the College of William & Mary, MS and Ph.D. in Chemical Engineering from Lehigh University, and an MBA for Executives from The Wharton School of Business at the University of Pennsylvania. In 2016, he was awarded a Doctor of Humane Letters (honoris causa) from Thomas Jefferson University (formerly Philadelphia University) and the Wagner Free Institute of Science.

“We are extremely pleased to welcome Stephen as chairman of the board, and particularly fortunate for his expert understanding of the impact that at-home diagnostics can have in early detection of diseases. His deep knowledge in the diagnostics space and his impactful leadership at OraSure will be invaluable as we await FDA authorization for our first at-home test for syphilis and set up our entire product portfolio for commercial launch,” said Rob Weigle, CEO of NOWDiagnostics. “In addition, his broad leadership experience in research and life sciences roles will help to guide our strategic vision of becoming the go-to choice for at-home and point-of-care diagnostics.”

Michele Colucci, founder and managing partner at DigitalDx, stated, “As a diagnostic fund, we at DigitalDx Ventures are incredibly excited to welcome Steve Tang to the NOWDx board of directors as its board chair. Very few professionals have the depth of experience in the diagnostic industry as Steve does, much less his level of expertise in the boardroom. His steady, supportive hand, collaborative approach, and revenue focus are exemplary and exactly what is needed to harness the incredible talent in the C-suite and complement the existing composition of the board. Boards are often like a puzzle, and in this context we'd say he's the perfect fit.”

“We are very much looking forward to the leadership and strategic direction that Stephen Tang will provide NOWDx,” stated Jeremy Wilson, co-founder of NOWDx and co-managing partner of private equity firm NewRoad Capital Partners. “With his heavy-hitting expertise, he will position the company very well for future growth, while creating impact and innovation in the diagnostics industry.”

Dr. Tang currently serves on the Boards of Directors of several nonprofit organizations, including the William & Mary Foundation, Population Services International, Lehigh University, Team Pennsylvania Foundation, and Life Sciences Pennsylvania.

About NOWDiagnostics (NOWDx)

NOWDx develops and manufactures “Touch to Test” over-the-counter and point-of-care diagnostic tests that yield results in minutes. Its patented approach allows for virtually any immunological assay to be accurately performed onsite in one step using a tiny amount of capillary blood or, in some cases, saliva. NOWDx envisions a world where people have greater access to in-home testing with in-home results - in minutes. It is committed to changing healthcare by providing accessible, affordable, and accurate testing for all.

Please visit nowdx.com for more information or follow the company on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240321747977/en/

Todd Grice

NOWDx

todd.grice@nowdx.com

717.380.9400

Alex Romero-Wilson

Health+Commerce

alexander@healthandcommerce.com

Source: NOWDiagnostics

FAQ

Who is the new chairman of NOWDiagnostics (NOWDx)?

Dr. Stephen S. Tang, former head of OraSure Technologies.

What is Dr. Tang's background in the medical diagnostic industry?

Dr. Tang led OraSure Technologies, a pioneer in rapid at-home tests for HIV and COVID-19, for ten years as president and CEO.

What impact did Dr. Tang have on OraSure Technologies during his tenure?

Under Dr. Tang's leadership, OraSure Technologies launched more FDA-cleared products, expanded its sales, and developed innovative products and services.