Nanostics Announces New Member of Board of Directors

Rhea-AI Summary

Nanostics Inc. announced the appointment of Aubrey Rankin to its Board of Directors, succeeding Reg Joseph as an independent director. Rankin brings extensive experience in MedTech and FinTech, having formerly served as President of Innovation at Revance (Nasdaq: RVNC), where he integrated HintMD's patient-provider platform. His expertise is expected to aid in the launch of Nanostics' lead prostate cancer diagnostic, ClarityDX Prostate®, which uses a neural network algorithm to assess cancer risk based on biomarkers. The company expressed gratitude to Joseph for his contributions.

Positive

• Aubrey Rankin's vast experience in patient-provider subscription platforms may enhance Nanostics' strategic direction and product launch.
• Rankin's previous role at Revance (Nasdaq: RVNC) adds significant industry insights that could positively impact Nanostics.

Negative

• Reg Joseph's departure may create a gap in leadership continuity and experience within the company.

EDMONTON, AB, Nov. 17, 2022 /PRNewswire/ - Nanostics Inc., a precision health diagnostics company, announced today the appointment of Aubrey Rankin to its Board of Directors. Mr. Rankin will join the board of directors at Nanostics replacing Mr. Reg Joseph as one of the independent directors for the company.

"We're excited to announce Aubrey Rankin's appointment to Nanostics' Board of Directors. Aubrey's vast experience and insights with patient-provider subscription platforms will be invaluable as we launch our lead prostate cancer diagnostic test, ClarityDX Prostate^®," said John Lewis, CEO of Nanostics.

Mr. Rankin's extensive experience spans divergent industries including MedTech, FinTech, Software, and Professional Services, and has held various leadership roles including founder, CEO, board member, and investor. Most recently, Mr. Rankin served as President of Innovation (Software) and Member of the Board of Directors at Revance (Nasdaq: RVNC) where he oversaw the integration of HintMD, a FinTech company he co-founded in 2014. Revance (Nasdaq: RVNC) acquired HintMD's Patient-Provider Subscription platform that supports personalized patient treatment plans in 2020.

Aubrey's additional experience includes serving as Vice President of Asia-Pacific at ZELTIQ (formerly Nasdaq: ZLTQ), bringing innovative marketing strategies and physician training academies to the medical aesthetics industry. He was also a director with PwC's Mergers and Acquisitions Advisory group, assisting multinational clients with billion-dollar M&A, divestitures, and strategic alliance projects. Currently, Mr. Rankin serves on the board of directors of FriendMedia, and the advisory boards of two early-stage companies, RapidFort and PB&B.

Nanostics is thankful to outgoing board member Reg Joseph, CEO of Health City, for his service. Reg's insights into the Healthcare Industry were instrumental in helping Nanostics advance its lead diagnostic product, ClarityDX Prostate^® through clinical studies and position it for regulatory approval.

Nanostics' ClarityDX Prostate® test uses a proprietary neural network algorithm that combines data from biological and clinical biomarkers to generate a risk score for clinically significant prostate cancer. The ClarityDX Prostate^® test is intended to be used by men with elevated levels of PSA and is designed to help physicians and patients make a more informed decision on whether to proceed with a biopsy or not.

About Nanostics Inc.

Nanostics is a private Canadian company focused on the development and commercialization of novel and noninvasive diagnostic tests. Its core technology, ClarityDX^®, uses advanced machine learning algorithms to create a disease risk score. ClarityDX^® is applicable to a wide range of cancers and other diseases. Nanostics' lead product, ClarityDX Prostate^®, is a test that improves the accuracy of detecting clinically significant prostate cancer. Read more at: www.nanosticsdx.com.

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SOURCE Nanostics

FAQ

What is the significance of Aubrey Rankin's appointment to Nanostics?

Aubrey Rankin's appointment is significant as his extensive experience in MedTech and patient-provider subscription platforms is expected to enhance the strategic direction of Nanostics, particularly in launching its lead diagnostic test.

Who did Aubrey Rankin replace on the Board of Directors at Nanostics?

Aubrey Rankin replaced Reg Joseph as an independent director on the Board of Directors at Nanostics.

What is ClarityDX Prostate® and how does it relate to the new board appointment?

ClarityDX Prostate® is Nanostics' lead prostate cancer diagnostic test, and Rankin's expertise may facilitate its launch and acceptance in the market.

How might Reg Joseph's departure affect Nanostics?

Reg Joseph's departure may impact leadership continuity and could create concerns about strategic direction and industry experience within the board.