Exagen Elects Frank Stokes to Board of Directors

Rhea-AI Summary

Exagen Inc. (Nasdaq: XGN) announced that stockholders have elected Mr. Frank Stokes as an independent member of its Board of Directors during the Annual Meeting on June 17, 2021. Mr. Stokes will also chair the Audit Committee. His experience as a CFO and investment banker, particularly in the life sciences sector, is expected to contribute significantly to Exagen's growth strategy. He aims to enhance Exagen's commitment to improving patient care through innovative autoimmune testing solutions.

Positive

• Appointment of Frank Stokes, a seasoned CFO and investment banker, provides fresh insights and leadership.
• Mr. Stokes' expertise in life sciences and diagnostics aligns well with Exagen's growth strategy.

Negative

• None.

SAN DIEGO, June 18, 2021 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, is proud to announce the company’s stockholders approved the election of Mr. Frank Stokes as an additional independent member to its Board of Directors at the Annual Meeting held on June 17, 2021. Mr. Stokes will also serve as Chair of the Audit Committee.

“We are excited to welcome Mr. Frank Stokes to our dedicated Board of Directors,” said Ron Rocca, Exagen’s President and Chief Executive Officer. “Frank brings tremendous capabilities as both a former investment banker and a current CFO for a public skin care diagnostic company. His multifaceted experience and knowledge in the advanced diagnostics and life sciences industry will be valuable for the next phase of Exagen’s growth.”

"I am honored to join the board of an innovative company with a successful track record and reputation for enabling providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases,” said Mr. Stokes. “Exagen offers a highly valuable testing portfolio. I look forward to working with the executive leadership team and board of directors, as the Company continues to execute on its compelling mission and growth strategy.”

Mr. Stokes has served as the Chief Financial Officer of Castle Biosciences, Inc., a skin cancer diagnostics company, since December 2017. From January 2017 to December 2017, Mr. Stokes served as Chief Financial Officer of Hammock Pharmaceuticals, a specialty pharmaceutical company focused on the development and commercialization of women's health and urology products. From May 2011 to December 2016, Mr. Stokes served as a Managing Director of Leerink Swann (now SVB Leerink). Mr. Stokes also held positions as a Managing Director at Robert W. Baird & Co. Incorporated and Wachovia Securities, LLC. While at SVB Leerink and Robert W. Baird & Co., Mr. Stokes led life sciences, tools and diagnostics sector investment banking efforts and managed financings and mergers and acquisitions transactions. Mr. Stokes obtained a Bachelor of Science in Business Administration, Master of Business Administration and Doctor of Jurisprudence, all from the University of North Carolina at Chapel Hill.

About Exagen

Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE® brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. For more information, please visit www.Exagen.com.

CONTACTS:

Investor Relations
Exagen Inc.
Ryan Douglas
rdouglas@exagen.com
760.560.1525

Company
Exagen Inc.
Kamal Adawi, Chief Financial Officer
kadawi@exagen.com
760.477.5514

FAQ

What is the significance of Frank Stokes' election to Exagen's board?

Frank Stokes' election as an independent board member is significant as he brings extensive experience from the finance and diagnostics sectors, which may strengthen Exagen's strategic direction.

How does Frank Stokes' experience benefit Exagen Inc.?

Mr. Stokes' background as CFO and investment banker in life sciences equips him to provide valuable insights and guidance in financial and operational strategies for Exagen's growth.

When did Exagen Inc. elect Frank Stokes to the Board of Directors?

Frank Stokes was elected to the Board of Directors on June 17, 2021, during Exagen's Annual Meeting.

What role will Frank Stokes serve on Exagen's board?

Frank Stokes will serve as an independent board member and will chair the Audit Committee.

What is Exagen's focus in the healthcare industry?

Exagen focuses on providing innovative autoimmune testing solutions to improve care for patients with autoimmune diseases.