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Diagnostic industry veteran plans immediate start
SAN DIEGO, Oct. 21, 2020 /PRNewswire/ -- Biocept, Inc. (Nasdaq: BIOC), a leading commercial provider of molecular diagnostic tests and services, announces the appointment of Samuel D. Riccitelli to its Board of Directors, effective immediately. Mr. Riccitelli is joining the Board ahead of the planned retirement of Bruce A. Huebner, who will retire from the Biocept Board of Directors on November 30, 2020.
Mr. Riccitelli brings to Biocept extensive experience in the molecular diagnostics industry, having served in executive-level positions and on the Boards of multiple publicly traded companies. At Biocept, he will initially serve on the Audit Committee and the Science and Technology Committee.
"Sam's proven success with high-growth diagnostics companies, strong knowledge of the public equity markets and extensive corporate governance experience make him a welcome addition to our Board. We expect Sam will make significant contributions toward achieving our strategic growth initiatives and opening new opportunities as we build upon our position as a leader in molecular diagnostics and continue to rapidly grow," said Biocept Chairman David F. Hale. "We very much appreciate the many contributions Bruce has made as a valued member of our Board for the past seven years, consistently bringing to Biocept keen insights in diagnostics sales, marketing and reimbursement. We wish him well in his retirement."
"This is an exciting time to join the Biocept Board as liquid biopsy moves toward the goal of becoming standard of care and the company is experiencing rapid growth with its infectious disease offering," said Mr. Riccitelli. "I see a substantial opportunity for Biocept and its proprietary Target Selector™ technology to play an ever-increasing role in improving clinical outcomes for patients. I look forward to working with the team in advancing Biocept's programs and delivering value to stockholders."
Mr. Riccitelli has been in the healthcare industry for more than 35 years. He currently serves as an independent consultant to healthcare companies and is a Director of OrthoPediatrics Corp. (Nasdaq: KIDS), a company focused on the orthopedic implant needs of children. He previously was Chief Executive Officer of Pathnostics, LLC, a molecular diagnostics company focused on improving antibiotic stewardship. Prior to that, he served as Chairman of Precipio, Inc., a publicly traded diagnostic services company, as President, Chief Executive Officer and Director of Signal Genetics, Inc., a publicly traded molecular diagnostic company acquired by miRagen Therapeutics, Inc., and as Executive Vice President and Chief Operating Officer of Genoptix, Inc., a publicly traded diagnostic company acquired by Novartis. Earlier in his career, Mr. Riccitelli held a number of R&D and general management positions at Becton, Dickinson and Company, and served as Vice President, General Manager and Director for BD Ventures, LLC, a venture capital fund. Mr. Riccitelli received a B.A. from Washington and Jefferson College and an M.S. in Engineering from The University of Texas.
Biocept, Inc. is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma. The Company uses its proprietary liquid biopsy technology to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with cancer. The Company's patented Target Selector™ liquid biopsy technology platform captures and analyzes tumor-associated molecular markers in both circulating tumor cells (CTCs) and in circulating tumor DNA (ctDNA). With thousands of tests performed, the platform has demonstrated the ability to identify cancer mutations and alterations to inform physicians about a patient's disease and therapeutic options. In addition, Biocept conducts COVID-19 testing to support efforts to fight the pandemic. For additional information, please visit www.biocept.com.
Forward-Looking Statements Disclaimer Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. To the extent that statements in this release are not strictly historical, including without limitation statements regarding the ability of certain individuals to make significant contributions toward achieving our strategic growth initiatives and opening new opportunities for Biocept, liquid biopsy's ability to become standard of care, the potential for our proprietary Target Selector™ technology to play an ever-increasing role in improving clinical outcomes for patients, delivering value to stockholders, the ability of our tests to provide clinically actionable information, and the ability of Biocept's platform to identify cancer mutations and alterations to inform physicians about a patient's disease and therapeutic options, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous risk factors as set forth in our Securities and Exchange Commission (SEC) filings. The effects of such risks and uncertainties could cause actual results to differ materially from the forward-looking statements contained in this release. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law. Readers are advised to review our filings with the SEC, which can be accessed over the Internet at the SEC's website located at www.sec.gov.
LHA Investor Relations
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SOURCE Biocept, Inc.