Volition appoints Sharon Ballesteros as U.S. Head of Quality and Development Process

Rhea-AI Summary

VolitionRx Limited (NYSE AMERICAN: VNRX) has appointed Sharon Ballesteros as the U.S. Head of Quality and Development Process, effective April 4, 2022. Ballesteros brings over 20 years of experience from her previous roles at Siemens Health Diagnostics and GRAIL. This move supports Volition's expansion efforts in California, including a new 6,000 ft lab in Carlsbad. The company aims to enhance its regulatory processes to commercialize its Nu.Q® diagnostic products for various diseases. A warrant for 54,000 shares at $3.05 per share was granted to Ballesteros as part of her appointment.

Positive

• Sharon Ballesteros brings over 20 years of experience in the in vitro diagnostics industry.
• Her leadership is expected to strengthen the company's regulatory and clinical study programs.
• The opening of a new 6,000 ft innovation lab in Carlsbad will enhance research capabilities.
• The appointment signals Volition's transition from R&D to a commercial operation.

Negative

• Concerns may arise regarding continuity and potential experience gaps in leadership.
• The substantial reliance on Ballesteros's expertise in a critical phase of the company's development.

AUSTIN, Texas, April 6, 2022 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition"), a multi-national epigenetics company, has announced the appointment of Sharon Ballesteros as U.S Head of Quality and Development Process.

Sharon has over 20 years of experience within the in vitro diagnostics industry with senior program management, quality assurance, and process improvement roles at Siemens Health Diagnostics, Thermo Fisher, and Agena Bioscience. Most recently, Sharon was Director of Design Quality and Risk at GRAIL where she led the company's Design Controls and Risk programs.

Sharon joins Volition America, Volition's wholly owned U.S. subsidiary, as the company expands its team and operations in California, and opens a new 6,000 ft state-of-the-art innovation laboratory in Carlsbad focused on cutting-edge, discovery research.

Gaetan Michel, Chief Operating Officer of Volition, said, "We're delighted to welcome Sharon to Volition. Her leadership skills, industry knowledge and expertise in quality assurance, regulatory affairs and process improvement will be invaluable to us, as we develop and implement a robust clinical study and FDA regulatory program, and help bring our range of Nu.Q^® products to market."

Commenting on her appointment, Sharon Ballesteros said, "I am excited to join Volition at such a pivotal stage, as the company transitions from an R&D company to a commercial operation and focuses on its product realization and regulatory strategies. Volition is dedicated to revolutionizing the diagnosis and monitoring of life-altering diseases, through its transformative Nucleosomics™ technology, and I look forward to working with Volition's expert team."

Volition is developing simple, easy-to-use, cost-effective blood tests to help diagnose and monitor a range of life-altering diseases including cancer in both humans and animals. For more information about Volition's Nu.Q^® technology go to: www.volition.com

About Volition

Volition is a multi-national epigenetics company that applies its Nucleosomics™ platform through its subsidiaries to develop simple, easy to use, cost effective blood tests to help diagnose and monitor a range of life-altering diseases including some cancers and diseases associated with NETosis such as sepsis and COVID-19. Early diagnosis and monitoring have the potential to not only prolong the life of patients but also improve their quality of life. The tests are based on the science of Nucleosomics™, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid - an indication that disease is present. Volition is primarily focused on human diagnostics and monitoring but also has a subsidiary focused on animal diagnostics and monitoring.

Volition's research and development activities are centered in Belgium, with an innovation laboratory in California and additional offices in Texas, London, and Singapore, as the company focuses on bringing its diagnostic and disease monitoring products to market.

For more information about Volition, visit Volition's website or connect with us via Twitter, LinkedIn, and Facebook.

Media Enquiries:

Louise Batchelor/Debra Daglish, Volition, mediarelations@volition.com +44 (0)7557 774620

Investor Enquiries:

Scott Powell, Volition, investorrelations@volition.com +1 (646) 650 1351

Joseph Green, Edison Advisors, jgreen@edisongroup.com +1 (646) 653 7030

Safe Harbor Statement

Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "can," "could," "would," "should," "may," "will" and similar expressions identify forward-looking statements. These forward-looking statements relate to the effectiveness of Volition's blood-based diagnostic, prognostic and disease monitoring tests, Volition's ability to develop and successfully commercialize such test platforms for early detection of cancer and other diseases as well as serving as a diagnostic, prognostic or disease monitoring tools for such diseases, and the timing of product launches and publications. Volition's actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties, including, without limitation, results of studies testing the efficacy of its tests. For instance, if Volition fails to develop and commercialize diagnostic, prognostic or disease monitoring products, it may be unable to execute its plan of operations. Other risks and uncertainties include Volition's failure to obtain necessary regulatory clearances or approvals to distribute and market future products; a failure by the marketplace to accept the products in Volition's development pipeline or any other diagnostic, prognostic or disease monitoring products Volition might develop; Volition's failure to secure adequate intellectual property protection; Volition will face fierce competition and Volition's intended products may become obsolete due to the highly competitive nature of the diagnostics and disease monitoring markets and their rapid technological change; downturns in domestic and foreign economies; and other risks identified in Volition's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as other documents that Volition files with the Securities and Exchange Commission. These statements are based on current expectations, estimates and projections about Volition's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are made as of the date of this release, and, except as required by law, Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

Pursuant to the disclosure requirements of the NYSE American Company Guide Section 711(a), Volition is reporting that its Board of Directors (including all of its independent directors) has approved the issuance of a warrant to purchase up to 54,000 shares of Volition common stock (the "Warrant") to Sharon Ballesteros as a material inducement for her entering employment with Volition America, Inc., Volition's wholly owned subsidiary, as U.S. Head of Quality and Development Process. The Warrant was granted effective April 4, 2022, with an exercise price of $3.05 per share and vests in two equal installments of 27,000 shares on each of April 4, 2023, and April 4, 2024, respectively, (subject to (i) continued employment through such date, and (ii) the shares underlying the Warrant shall have been duly approved for listing by the NYSE American prior to exercise). Each installment of the Warrant will expire five years after vesting on each of April 4, 2028, and April 4, 2029, respectively.

Nucleosomics™ and Nu.Q^® and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries. All other trademarks, service marks and trade names referred to in this press release are the property of their respective owners.

View original content:https://www.prnewswire.com/news-releases/volition-appoints-sharon-ballesteros-as-us-head-of-quality-and-development-process-301518777.html

SOURCE VolitionRx Ltd

FAQ

What leadership role was Sharon Ballesteros appointed to at VolitionRx?

Sharon Ballesteros was appointed as the U.S. Head of Quality and Development Process.

What is Sharon Ballesteros's background before joining VolitionRx?

She has over 20 years of experience in the in vitro diagnostics field, with roles at Siemens Health Diagnostics and GRAIL.

What new facility is VolitionRx opening in California?

VolitionRx is opening a 6,000 ft state-of-the-art innovation laboratory in Carlsbad, California.

When was Sharon Ballesteros's appointment effective?

Her appointment was effective on April 4, 2022.

What stock options were granted to Sharon Ballesteros upon her hiring?

She was granted a warrant to purchase up to 54,000 shares of Volition common stock at an exercise price of $3.05 per share.