ASEP MEDICAL INC. ANNOUNCES APPOINTMENT OF DR. ROBERT E. W. HANCOCK AS CEO AND CHAIRMAN

Rhea-AI Summary

Asep Medical Holdings Inc. has appointed Dr. Robert E. W. Hancock as CEO and Chairman, effective immediately, replacing Rudy Mazzocchi due to health issues. Dr. Hancock, co-founder and an expert in infectious diseases, has received numerous accolades for his research, including the Prix Galien and Killam Prize. He will also step down as COO, with Timothy Murphy, an experienced executive, taking over the role. Asep is focused on developing diagnostic tools and therapies for severe sepsis and multidrug-resistant infections, addressing significant unmet medical needs in these areas.

Positive

• Dr. Hancock's appointment brings expertise in infectious diseases, potentially strengthening leadership.
• Timothy Murphy's experience in mergers and acquisitions could benefit the company's strategic direction.

Negative

• The transition in leadership may pose continuity risks during a critical development phase.
• Rudy Mazzocchi's health issues that led to his departure could raise concerns about the company's stability.

VANCOUVER, BC, July 5, 2022 /PRNewswire/ - Asep Medical Holdings Inc. ("Asep Inc." or the "Company") (CSE: ASEP) (OTCQB: SEPSF) has appointed Dr. Robert E. W. Hancock, the Co-Founder of Asep Inc, as the CEO and Chairman of the Company effective immediately. Dr. Hancock replaces Rudy Mazzocchi, the former CEO and Chairman, who has stepped down due to health reasons. Dr. Hancock states, "We wish Rudy well and sincerely thank him for his service and invaluable contributions to the Company."

Dr. Hancock is the co-founder of Asep Inc. and a world-leading expert in infectious diseases. In recognition of his research work, Dr. Hancock has received numerous awards and honours including the Prix Galien (highest award for Canadian pharmaceutical research and innovation), the Killam Prize (Canada Council's prize for health research), Michael Smith CIHR Researcher of the Year, the ICAAC Aventis Antimicrobial Research  Award (leading award worldwide for antimicrobial research) and in 2001 he was inducted as an Officer of the Order of Canada (Canada's second highest honour).

Dr. Hancock will be stepping down as COO and will be replaced by Timothy Murphy, a current member of the Company's board of directors. Mr. Murphy is an experienced business lawyer and executive with a strong background in mergers and acquisitions, intellectual property and technology licensing.

ABOUT ASEP MEDICAL HOLDINGS INC.

 Asep Inc. is dedicated to addressing antibiotic failure by developing novel solutions for significant unmet medical needs. The Company is a consolidation of two existing private companies (Sepset Biosciences Inc. and ABT Innovations Inc.) that are both in the advanced development of both proprietary diagnostic tools, enabling the early and timely identification of severe sepsis as well as broad-spectrum therapeutic agents to address multidrug-resistant biofilm infections.

Sepset Biosciences Inc. is developing a diagnostic technology that involves a patient gene expression signature that predicts severe sepsis, one of the significant diseases leading to antibiotic failure since antibiotics are the primary treatment for sepsis. Despite this, sepsis is responsible for nearly 20% of all deaths on the planet. The Sepset^ER test is a blood-based gene expression assay that is straightforward to implement, and results are obtained in about an hour in the emergency room or intensive care unit. This proprietary diagnostic technology differs from current diagnostic tests in enabling diagnosis of severe sepsis within 1-2 hours of first clinical presentation (i.e., in the emergency room), while other diagnostics only provide diagnosis after 24-36 hours. Asep Inc. believes this will enable critical early decisions to be made by physicians regarding appropriate therapies and reduce overall morbidity and mortality due to sepsis.

ABT Innovations Inc.'s peptide technology covers a broad range of therapeutic applications, including bacterial biofilm infections (medical device infections, chronic infections, lung, bladder, wound, dental, skin, ear-nose and throat, sinusitis, orthopaedic, etc.), anti-inflammatories, anti-infective immune-modulators and vaccine adjuvants.

FORWARD-LOOKING STATEMENTS —

 This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements, including but not limited to the completion of successful clinical testing of our Sepsis diagnostic test and its intended filing for regulatory approval; and the undertaking of pre-clinical studies on our lead therapeutic, with the expectation that this will lead to fast track clinical trials. Various assumptions were used in drawing the conclusions or making the predictions contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks (including those risk factors identified in the Asep Medical Inc.'s prospectus dated November 9, 2021) available for review under the Company's profile at www.sedar.com and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Asep Medical Inc. is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

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SOURCE ASEP Medical Holdings Inc.

FAQ

What is the significance of Dr. Robert E. W. Hancock's appointment as CEO of Asep Medical Holdings Inc. (SEPSF)?

Dr. Hancock's appointment is significant as he is a co-founder and a leading expert in infectious diseases, which may enhance the company's strategic focus on sepsis diagnostics and treatments.

Who is Timothy Murphy, and what is his role after Dr. Hancock's appointment at Asep Inc. (SEPSF)?

Timothy Murphy, previously a board member, will replace Dr. Hancock as COO, bringing his experience in business law and mergers and acquisitions to the company.

What led to the leadership change at Asep Medical Holdings Inc. (SEPSF)?

The leadership change was prompted by the health-related resignation of former CEO Rudy Mazzocchi.

How might the leadership transition impact Asep Medical Holdings Inc.'s future (SEPSF)?

The transition may present both opportunities for fresh perspectives and risks related to continuity and stability in the company's ongoing projects.