SAN DIEGO, Nov. 5, 2018 /PRNewswire/ -- Biocept, Inc.
(NASDAQ: BIOC), a leading commercial provider of liquid biopsy
tests designed to provide physicians with clinically actionable
information to improve the outcomes of patients diagnosed with
cancer, announces the appointments of Scott
Nicholson as Vice President of Sales - US and
Cory Dunn as Vice President of
Marketing. Nicholson has 24 years of experience in the medical
laboratory industry with a focus in oncology for the physician and
hospital markets, and Dunn has over 15 years of commercial
marketing experience in the life sciences industry, specializing in
diagnostic testing services for oncology.
"I am pleased to announce the hiring of Cory and Scott, as we
restructure and refocus the sales and marketing organization at
Biocept," said Edwin Hendrick,
Senior Vice President, Chief Commercial Officer at Biocept. "Both
bring extensive diagnostic laboratory experience and proven track
records of building markets in the
oncology arena. Our two newest Vice Presidents will be tasked to
increase the relevance of our Target Selector™ platforms in disease
states and physician segments that can benefit the most from our
unique liquid biopsy offering. Our primary mission is to help
physicians treat cancer patients more effectively by obtaining
actionable information from a simple blood sample to develop
personalized treatment plans."
Nicholson is a veteran sales executive in the medical lab
industry with experience in the oncology segment. His previous
positions ranged from Sales Executive, District Manager,
and Regional Manager to Vice President of Sales and
Senior Vice President of Sales. Nicholson was the first sales
representative hired at US Labs, where he was instrumental in
growing sales to approximately $80
million that led to the acquisition of the company by Lab
Corp in 2005. He served as Vice President of Sales at PLUS
Diagnostics for seven years and was instrumental in growing
revenues from $2 million to nearly
$100 million, before PLUS was
acquired by Miraca Life Sciences in 2013. Most recently, Nicholson
was Vice President of Sales at GenomeDx Biosciences, where he led
the commercialization effort for the Decipher® genomic suite of
tests in the urology market.
Dunn most recently served as Vice President of Commercial
Marketing at GenomeDx, where she led the launch, commercial
marketing, and product life cycle management of the Decipher®
genomic suite of tests for urologic cancers. Prior to GenomeDx,
Dunn oversaw the marketing efforts for PLUS Diagnostics'
Gastroenterology, Dermatology and Hematology-Oncology product
lines, which produced record growth rates and culminated in nearly
$100 million in annual sales. Her
past experience also includes serving as Marketing Director at
Genoptix with key responsibilities
for marketing Veridex's CELLSEARCH® Circulating Tumor Cell Test,
contributing to rapid growth and a successful IPO. Ms. Dunn
holds post graduate science and education degrees from the
University of California, San Diego and
Stanford University, respectively.
Inducement Awards
In connection with the hiring of Nicholson and Dunn, Biocept
granted each individual an inducement stock option award to
purchase 24,200 shares of Biocept common stock. Each stock option
was granted on October 31, 2018 in
accordance with Biocept's general practice. Each stock option has
an exercise price per share equal to the closing price of Biocept's
common stock on October 31, 2018, and
is a non-qualified stock option with a 10-year term. Each
stock option will vest over four years, with 25% of the shares
subject to the option vesting on the one-year anniversary of the
commencement of employment with Biocept and the remainder of the
shares vesting in equal monthly installments over the following
three years, subject to continued service with Biocept through the
applicable vesting dates. Each stock option is subject to the terms
and conditions of Biocept's 2013 Amended and Restated Equity
Incentive Plan, as amended, and the award agreement pursuant to
which the stock option was granted.
In addition, in connection with the hiring of an individual to
the position of Product Specialist, Biocept granted such individual
an inducement stock option award to purchase 9,700 shares of
Biocept common stock. The stock option was granted on
October 31, 2018 in accordance with
Biocept's general practice. The stock option has an exercise
price per share equal to the closing price of Biocept's common
stock on October 31, 2018, and it is
a non-qualified stock option and has a 10-year term. The
stock option will vest over four years, with 25% of the shares
subject to the option vesting on the one-year anniversary of the
commencement of employment with Biocept and the remainder of the
shares vesting in equal monthly installments over the following
three years, subject to continued service with Biocept through the
applicable vesting dates. The stock option is subject to the
terms and conditions of Biocept's 2013 Amended and Restated Equity
Incentive Plan, as amended, and the award agreement pursuant to
which the stock option was granted.
Each of the stock options described above was granted as an
inducement material to entering into employment with Biocept in
accordance with NASDAQ Listing Rule 5635(c)(4).
About Biocept
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
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
plasma (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. 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 as to our ability to improve the
outcomes of patients diagnosed with cancer, our ability to build
upon our market presence in the liquid biopsy segment, and our
ability to reaccelerating sales of our Target Selector assay
platform, 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.
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310-691-7100
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404-214-0722, Ext.
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SOURCE Biocept, Inc.