AVANT DIAGNOSTICS ADDS TWO ESTEEMED, INTERNATIONALLY RECOGNIZED BOARD MEMBERS AND FILES ITS 2016 10-K IN PREPARATION OF GETTI...
August 28 2018 - 9:00AM
AVANT DIAGNOSTICS
ADDS TWO ESTEEMED, INTERNATIONALLY RECOGNIZED BOARD MEMBERS AND
FILES ITS 2016 10-K IN PREPARATION OF GETTING CURRENT WITH THE
SEC
Washington, DC, Aug. 28, 2018
(GLOBE NEWSWIRE) - Avant Diagnostics, Inc. ("Avant" or the "Company")
(OTC Pink: AVDX), today announced the
addition of two internationally known oncology experts, Dr.
Rajesh Shrotriya, M.D. and Andy
DeLaO, to its Board of
Directors,
the appointments to be effective on Tuesday, August 28,
2018.
Dr. Rajesh
Shrotriya,
M.D., the former CEO and Chairman of Spectrum Pharmaceuticals
(NASDAQ: SPPI), has over four decades of
experience in the medical field, first as a dedicated physician and
then as a pharmaceutical industry executive. Under his leadership,
Spectrum identified, developed and commercialized several novel
anti-cancer drugs. Prior to joining
Spectrum,
Dr. Shrotriya was Executive Vice President
and Chief Scientific Officer for SuperGen, Inc. and Chief Medical
Officer at MGI Pharma, Inc. Dr. Shrotriya's
pharmaceutical
career began at Bristol-Myers Squibb, where he held various
positions, the most recent being Executive
Director Worldwide of CNS Clinical Research. Dr. Shrotriya is best known for his
strategic thinking, and deep understanding of medical science
including regulatory processes, not only at the Food and Drug
Administration in the United States but also at
regulatory agencies in Europe and Japan.
Andy DeLaO, aka "Cancergeek", is currently the Senior
Director of Marketing for Accuray, Inc, a radiation oncology
technology company that is innovating patient-first cancer
treatment. Previous to this role, Andy spent over
8 years at GE Healthcare, where he held multiple roles assisting
in developing and leading the
Oncology Solutions Organization, Product Marketing for the
Molecular Imaging business, and had managed $1.6 billion in
innovative growth marketing strategies.
In addition, Andy has worked with investment teams to bring
oncology care and risk reduction facilities to emerging markets,
and has built multiple cancer centers throughout the
world.
Dr. Mick Ruxin, Avant's new
President
& CEO stated, "This is a very
exciting time for Avant as the Company continues to add
internationally recognized, oncology-focused professionals during
its restructuring process. I believe that with the talented team we
are creating, along with the decades of knowledge and experience that
the team brings to our oncology space, we have a
greenfield
opportunity and
potentially a clear path towards future success".
Also, the Company filed its
Annual Report on Form 10-K for the fiscal year ended September 30,
2016, which is in line with the
timing of the Company's restructuring plan. "This is a substantial
accomplishment and milestone for the Company as we strive to take
the next steps forward toward getting current," said Scott
VanderMeer, Interim Chief Financial
Officer.
Dr. Mick Ruxin further added, "In
accomplishing our plan, we believe we will bring value to our
shareholders, to pharmaceutical and biotech companies interested in
developing our Theralink assay into a Companion
Diagnostic, and most important of all, to the patients who will
benefit from our technology." Avant's new leadership anticipates
becoming current in its filing requirements with the Securities and
Exchange Commission in the coming months.
About Avant
Diagnostics, Inc.
Avant Diagnostics,
Inc. is a
healthcare data-generating technology company that specializes in
biomarker assay services that target multiple areas of
oncology. Avant provides precision
oncology data through its TheraLink assays to assist the
biopharmaceutical industry and clinical oncologists in identifying
likely responders, initially for breast cancer, to over 70
FDA-approved drug treatments. Avant is the leading developer
of phospho-proteomic technologies that
measure the activation status of key
signaling pathways, with applications across multiple cancer types,
including breast, colorectal, non-small cell lung cancer and
pancreatic. This technology is
instrumental in the development of Companion Diagnostics for
molecular-targeted therapies.
Theralink
empowers
community physicians and clinical trial investigators with
actionable information to make time-sensitive
treatment decisions for their patients. Theralink is designed to inform
physicians which treatments are likely to be effective for their
patients at any given moment in time, and to also identify which
treatments are likely to be ineffective. These data have the
potential to improve treatment efficacy and reduce side effects by
foregoing ineffective therapy.
For further information please
visit http://www.avantdiagnostics.com.
Forward-Looking
Statements
Certain
statements in this press release are forward-looking within the
meaning of the Private Securities Litigation
Reform Act of 1995. These statements may be
identified by the use of forward-looking words such as
"anticipate," "believe," "forecast," "estimated" and "intend,"
among others. These forward-looking statements are based on Avant's
current expectations and actual results could
differ materially from those indicated by such forward-looking
statements. These factors include, but are not limited to, our
ability to continue as a going concern; our need for additional
financing; and risks related to failure to obtain
FDA clearances or approvals and noncompliance with FDA regulations.
There are no guarantees that any of our products will receive
regulatory or prove to be commercially successful. The Company is
providing this information as of the date of this press
release and does not undertake any obligation to
update any forward-looking statements contained in this press
release as a result of new information, future events or otherwise,
except as required by law. We have based these forward-looking
statements largely on our current expectations and
projections about future events and financial trends affecting the
financial condition of our business. Forward-looking statements
should not be read as a guarantee of future performance or results,
and will not necessarily be accurate indications
of the times at, or by, which such performance or results will be
achieved. Investors should read the risk factors set forth in
Avant's Annual Report on Form 10-K for the fiscal year ended
September 30, 2016 filed with the Securities and
Exchange Commission on August 27, 2018, and in other filings made
with the Securities and Exchange Commission.
Avant Investor
Relations:
Scott
VanderMeer
Interim
CFO
Office:
708-710-9200
Email:
scottv@avantdiagnostics.com
Source: Avant
Diagnostics, Inc.
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