Quotient Announces Appointment of Two New Board Members
Quotient Limited (NASDAQ:QTNT) announced changes to its board of directors effective September 1, 2020, with the addition of Dr. Isabelle Buckle and Dr. Catherine Larue. Dr. Buckle brings over 25 years of biotechnology experience, previously serving at Institut Pasteur and Bruker Daltonics. Dr. Larue, with a background in external affairs and leadership roles at IBBL, has significant expertise in biomedical research. Retiring directors Sarah O’Connor and Thomas Bologna will not stand for re-election during the upcoming annual meeting. This shift in leadership is expected to support Quotient's growth strategy and innovation.
- Appointment of Dr. Buckle and Dr. Larue brings significant experience in biotechnology and business development.
- New directors may enhance strategic relationships and potential growth opportunities.
- Departure of experienced board members O'Connor and Bologna may lead to concerns over continuity.
- Potential gaps in experience with the transition of new members.
JERSEY, Channel Islands, July 23, 2020 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company (the Company), headquartered in Eysins, Switzerland, today announced changes in the composition of its board of directors that will take effect later this year. Two of the Company's directors will be leaving the board and, effective September 1, 2020, two new directors will be joining.
The new board members are Dr. Isabelle Buckle, Ph.D. and Dr. Catherine Larue, Ph.D.
Dr. Buckle currently serves as Executive Vice-President of Technology Transfer and Industrial Partnership at Institut Pasteur in Paris, France. Previously, Dr. Buckle served as Global Vice President, Clinical Mass Spectrometry at Bruker Daltonics. Prior to that, she was CEO and Chairman of InGEN Biosciences (an in vitro diagnostics company based in France). Dr. Buckle has over 25 years of scientific, commercial and business experience in the biotechnology sector. Dr. Buckle holds a Ph.D. in Biochemistry from the University Paris VII, Institut Pasteur.
Dr. Larue currently serves as the Director of External Affairs at the Integrated Biobank of Luxemburg (IBBL) and previously served as IBBL's CEO. Prior to that, Dr. Larue led a business unit at Bio-Rad Laboratories, Inc. She sits on the boards of Fondation ARC, a public-interest organization focused on cancer research, GENFIT a biopharmaceutical company, and Information Technology for Translational Medicine (ITTM S.A.), a clinical data processing company. Dr. Larue holds a Ph.D. in immunology from the University of Rouen and a master’s in business administration from St. John’s University and ISM Paris.
“We are delighted to welcome Dr. Buckle and Dr. Larue to our Board. They join Quotient at a particularly innovative and dynamic time, as we continue to expand our portfolios and drive our strategy forward building new relationships with stakeholders. They bring decades of experience in scientific commercial business development and biomedical research and development, respectively. We are very fortunate to have them by our side,” said Heino von Prondzynski, the Company’s Chairman of the Board.
The directors who will be leaving the Company's board are Sarah O’Connor and Thomas Bologna. They have advised the Company that they will not stand for re-election at the upcoming annual general meeting of the shareholders of the Company in October 2020. Ms. O'Connor and Mr. Bologna joined the Company's board in 2014 and 2012, respectively.
Mr. von Prondzynski said, “Ms. O’Connor and Mr. Bologna have made enormous contributions to Quotient. It is to their credit that the Company stands in such a solid position today. On behalf of the entire board, we wish them all the best in their future endeavors.”
About Quotient Limited
Building on over 30 years of experience in transfusion diagnostics, Quotient is a commercial-stage diagnostics company committed to delivering solutions that reshape the way diagnostics is practiced. MosaiQ, Quotient’s proprietary multiplex microarray technology, offers the world’s first fully automated, consolidated testing platform, allowing for multiple tests across different modalities. MosaiQ is designed to be a game-changing solution, which Quotient believes will increase efficiencies, improve clinical practice, and deliver significant workflow improvements and operational cost savings to laboratories around the world. Building on the experience from transfusion diagnostics, Quotient has now developed a serological test in response to the global COVID-19 pandemic. The MosaiQ COVID-19 Antibody Microarray is CE marked and available for distribution in Europe including Switzerland, and the UK. Quotient's operations are based in Eysins, Switzerland, Edinburgh, Scotland and Newtown, Pennsylvania. The Quotient logo, Quotient MosaiQ and MosaiQ are trademarks or registered trademarks of Quotient Limited or its subsidiaries in various jurisdictions.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include statements regarding our expectations of continued growth, the development, regulatory approval, commercialization and impact of MosaiQ and other new products (including the potential for using our MosaiQ technology to test for COVID-19 antibodies). The MosaiQ system has not yet been cleared by the FDA for sale in the United States. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include delays or denials of regulatory approvals or clearances for products or applications; market acceptance of our products; the impact of competition; the impact of facility expansions and expanded product development, clinical, sales and marketing activities on operating expenses; delays or other unforeseen problems with respect to manufacturing, product development or field trial studies; adverse results in connection with any ongoing or future legal proceeding; continued or worsening adverse conditions in the general domestic and global economic markets, including the recent novel coronavirus (COVID-19) outbreak; as well as the other risks set forth in the Company's filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Quotient disclaims any obligation to update these forward-looking statements.
The Quotient logo, Quotient MosaiQ and MosaiQ are trademarks or registered trademarks of Quotient Limited or its subsidiaries in various jurisdictions.
Contact: Peter Buhler, Chief Financial Officer, peter.buhler@quotientbd.com; +41 22 545 52 26
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