Seasoned Healthcare Executive Albert P. Parker Appointed Chief Operating Officer of OncoCyte
10 August 2018 - 6:10AM
OncoCyte Corporation (NYSE American: OCX), a developer of novel,
non-invasive liquid biopsy tests for the early detection of cancer,
today announced the appointment of Albert P. Parker, a seasoned
industry executive with over 25 years of pharmaceutical, biotech
and healthcare experience, as Chief Operating Officer.
“I welcome Al to OncoCyte and I, along with the
other senior executives, look forward to his many contributions,”
commented William Annett, President and CEO. “His business
development and operational expertise enhances the team and
increases our depth as we further advance the development of
DetermaVu™, our liquid biopsy lung cancer diagnostic test, toward
commercialization in 2019.”
Prior to joining the Company, Mr. Parker served
as the Managing Shareholder of GC Legal Advisors, where he
represented and advised public and privately held companies
primarily in the life sciences industry. Mr. Parker has
extensive experience working with companies to maximize commercial
and strategic opportunities and has played a central role on
numerous business development transactions. An attorney with
global experience, Mr. Parker has developed deep cultural
intelligence managing diverse and cross-functional teams in highly
matrixed environments. Among his prior roles, Mr. Parker has
served as Executive Vice President, General Counsel and Corporate
Secretary at Sunovion Pharmaceuticals, Senior Vice President &
Chief Counsel for Wyeth Pharmaceuticals, and Partner at Schnader
Harrison Segal & Lewis, L.L.P.
“OncoCyte’s focus on creating innovation in
liquid biopsies, combined with its lead product DetermaVu, provides
for unique strategic and operational growth opportunities and I am
excited to join the team,” commented Mr. Parker.
About DetermaVu™
DetermaVu™ is OncoCyte’s confirmatory,
non-invasive, liquid biopsy test intended to facilitate clinical
decision making in lung cancer diagnosis. DetermaVu™ is being
developed as an intermediate step to confirm the absence of cancer
between imaging modalities (LDCTs) detecting suspicious lung
nodules and downstream invasive procedures that determine if the
nodules are malignant. OncoCyte estimates that a $4.7 billion
annual market could develop in the U.S. for its confirmatory lung
cancer liquid biopsy test, depending on market penetration and
reimbursable pricing.
DetermaVu™ is a trademark of
OncoCyte Corporation.
About OncoCyte Corporation
OncoCyte is focused on the development and
commercialization of novel, non-invasive blood and urine (“liquid
biopsy”) diagnostic tests for the early detection of cancer. Early
detection of cancer can improve health outcomes, reduce the cost of
care, and improve patients’ quality of life. Liquid biopsy
diagnostic tests like those OncoCyte is developing may reduce the
need for costlier and riskier diagnostic procedures such as
invasive biopsy and cystoscopic procedures. OncoCyte’s development
pipeline is focused on non-invasive confirmatory diagnostic tests
for lung, breast, and bladder cancer. OncoCyte’s tests are being
developed using proprietary sets of genetic and protein molecular
markers that differentially express in specific types of cancer.
OncoCyte conducts ongoing research to identify additional molecular
markers, acquire or license markers and related technology, and
develop tests based on those markers.
OncoCyte Forward Looking
Statements
Any statements that are not historical fact
(including, but not limited to statements that contain words such
as “will,” “believes,” “plans,” “anticipates,” “expects,”
“estimates” and similar expressions) are forward-looking
statements. These statements include those pertaining to the
implementation and results of research, development, clinical
trials and studies, commercialization plans, future financial
and/or operating results, and future opportunities for OncoCyte,
along with other statements about the future expectations, beliefs,
goals, plans, or prospects expressed by management. Forward-looking
statements involve risks and uncertainties, including, without
limitation, risks inherent in the development and/or
commercialization of potential diagnostic tests or products,
uncertainty in the results of clinical trials or regulatory
approvals, the capacity of our third-party supplied blood sample
analytic system to provide consistent and precise analytic results
on a commercial scale, the need and ability to obtain future
capital, and maintenance of intellectual property rights, and the
need to obtain third party reimbursement for patients’ use of any
diagnostic tests we commercialize. Actual results may differ
materially from the results anticipated in these forward-looking
statements and accordingly as such statements should be evaluated
together with the many uncertainties that affect the business of
OncoCyte, particularly those mentioned in the “Risk Factors” and
other cautionary statements found in OncoCyte’s Securities and
Exchange Commission filings. OncoCyte disclaims any intent or
obligation to update these forward-looking statements, except as
required by law.
Investor Contacts
EVC Group LLC Matt Haines / Michael Polyviou 917-733-9297 /
732-933-2754
mhaines@evcgroup.com /
mpolyviou@evcgroup.com
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