Temple Metropolis, California, August 4, 2022–(BUSINESS WIRE)– Fulgent Genetics Company (NASDAQ: FLGT) (“Fulgent Genetics,” “Fulgent,” or “the Firm”) at the moment introduced the addition of two remedy veterans to its board of administrators. Dr. Michael Nohill, Chief Scientific Officer of Generate Biomedicines (“Generate”), and Dr. Leonard Put up, Chief Scientific Officer of Vivace Therapeutics (“Vivace”), who’ve joined the Firm’s Board of Administrators, efficient August 1, 2022.
“We’re delighted and honored to welcome Dr. Nohill and Dr. Put up to the Fulgent Board of Administrators,” mentioned Ming Hsieh, Chairman and CEO of Fulgent Genetics. “Dr. Nohil is a extremely revered scientist with operational, analysis and growth expertise in each genetics and new drug discovery. He has a formidable resume for company strategic roles. His expertise in constructing and increasing quite a few therapeutic growth tasks will convey distinctive experience to our Board of Administrators continued Hsieh.” Dr. Put up He’s a revered veteran of the remedy business with intensive expertise in new drug discovery and medical growth. His management and strategic advisory expertise is evidenced by the quite a few board and advisory positions he holds in personal and publicly traded corporations all over the world. Genetics and Therapeutic Industries. Dr. Nohill and Dr. Put up have deep expertise and robust relationships throughout the pharmaceutical and biotechnology industries, which we consider will convey large worth to Fulgent as we delve deeper into remedy alternatives sooner or later. We sit up for the contributions and insights Dr. Naheel and Dr. Put up will convey to our board of administrators and our operations.”
“I’m delighted to be becoming a member of the Fulgent Board of Administrators,” mentioned Dr. Michael Nohill. “The corporate has achieved an incredible quantity over the previous few years, together with vital contributions to the combat in opposition to COVID-19. Fulgent is taking a look at biopharmaceutical belongings poised to make a distinction to sufferers and the healthcare system. What impressed me most in my conversations with Fulgent is the group that They’ve constructed it throughout their group. They’re an excellent group of people who’ve demonstrated creativeness, scientific rigor and operational excellence over the course of the corporate’s evolving life. I sit up for serving to the group convey the corporate to new heights.”
“I sit up for working with the Fulgent group on their board of administrators,” mentioned Dr. Leonard Put up. “Over the previous 20 years, genetic testing has developed from a analysis instrument into the mainstream of drug discovery and growth. I’ve seen this transformation myself throughout many administration roles and advisory positions throughout R&D within the pharmaceutical and biotechnology industries. Fulgent continues to push the envelope with their contributions to genetic testing and I’m delighted To be a part of the group as the corporate continues to combine genetics into the way forward for drugs.”
Dr. Michael Noel is the chief scientific officer of Generate, a pharmaceutical firm pioneering a biomedical platform primarily based on machine studying. Previous to becoming a member of Generate, Dr. Nuhaily held varied roles of accelerating accountability at Amgen Inc. (“Amgen”) the place he was most just lately Senior Vice President of Technique, Advertising and marketing and Innovation. On this position, he served on the Government Committee of Amgen and led the corporate’s technique efforts, advertising and marketing course of, portfolio administration, all Amgen information, digital well being, and synthetic intelligence efforts. This included overseeing the $4 billion analysis and growth finances, in addition to overseeing the leaders of all drug packages from late analysis to late life cycle administration. Previous to becoming a member of Amgen, Dr. Nehaly was at Novartis AG in Switzerland the place he was the World Head of Molecular Diagnostics. He started his profession at McKinsey & Firm, the place he was a associate and labored extensively within the healthcare business with a concentrate on diagnostics, instrumentation, and prescribed drugs. Dr. Nahil holds a Ph.D. He obtained his Ph.D. in Molecular and Cell Biology from the College of California, Berkeley, and accomplished a Postdoctoral Fellowship on the Massachusetts Institute of Expertise (“MIT”). He obtained his undergraduate diploma in chemistry and life sciences from the Massachusetts Institute of Expertise.
Dr. Leonard Put up has over 30 years of expertise in all levels of drug growth, from early detection to FDA approval, with a selected concentrate on oncology and genetics. Since 2016, he has served as Chief Scientific Officer (“CSO”) and board member of Vivace, an oncology-focused drug discovery and growth firm, in the same position at Vivace’s sister firm Virtuoso Therapeutics, centered on oncology antibodies. Put up additionally serves on the board of administrators of various personal and public corporations within the fields of remedy, oncology, and genetics, together with uniQure (NASDAQ: QURE), ImmVirX, ML BioSolutions, and CG Oncology. Previous to becoming a member of Vivace as CSO, he held the place of Chief Scientific Officer at BioMarin Pharmaceutical Inc. (“BioMarin”), a publicly owned biopharmaceutical firm centered on uncommon ailments. He joined BioMarin when the corporate acquired LEAD Therapeutics, the place he was liable for the founding in addition to the next growth of talazoparib till it was offered to Medivation by BioMarin for greater than $400 million. Earlier LEAD positions have included senior vp of analysis and growth at Onyx Prescribed drugs and vp of Discovery Analysis for Parke-Davis Prescribed drugs. Put up holds a Ph.D. in Biochemistry from the College of Wisconsin and a Bachelor’s diploma in Chemistry from the College of Michigan.
About Fulgent Genetics
Fulgent Genetics is a technology-based genetic testing firm centered on reworking affected person care within the subject of oncology, infectious and uncommon ailments, and reproductive well being. Fulgent Genetics’ proprietary expertise platform has created an in depth and versatile check listing and the flexibility to repeatedly increase and enhance its genetic reference library whereas sustaining accessible pricing, excessive accuracy, and aggressive turnaround occasions. By integrating subsequent technology sequencing with its expertise platform, the corporate performs full gene sequencing with deletion/duplication evaluation in a spread of panels that may be tailor-made to satisfy particular buyer wants. The cornerstone of the corporate’s enterprise is its skill to offer broad selection and suppleness for all of shoppers’ distinctive testing wants by way of a complete expertise providing together with cloud computing, pipeline providers, data administration, net portal providers, medical workflow, sequencing as a service, and automatic laboratory providers.
This press launch incorporates forward-looking statements inside the which means of the Non-public Securities Litigation Reform Act of 1995. Examples of forward-looking statements on this press launch embody statements about, limitations, expectations, and assessments relating to: The efficiency and potential affected person advantages of Fulgent services and the abilities and expertise of recent members of the Fulgent Board of Administrators and their expectations relating to their future contributions to Fulgent, the Fulgent pipeline, and Fulgent’s skill to increase or develop its enterprise and product choices.
Ahead-looking statements are statements that aren’t historic details and relate to future occasions, situations or the longer term efficiency of the Firm, and are primarily based on administration’s present assumptions, expectations and beliefs relating to future developments and their potential influence on the Firm’s enterprise. These forward-looking statements are topic to various dangers and uncertainties, which can trigger the forward-looking occasions and circumstances described on this press launch to not happen, and precise outcomes to vary materially and adversely from these described within the forward-looking statements. These dangers and uncertainties embody, amongst others: the continuing results of the COVID-19 pandemic, together with preventive public well being measures which will proceed to have an effect on demand for its checks and the pandemic’s results on the worldwide provide chain; market potential and the speed and diploma of market adoption of the Firm’s checks, together with its checks for COVID-19 and genetic testing usually; The corporate’s skill to seize a big share of the growing marketplace for genetic testing and COVID-19 and to compete efficiently in these markets, together with its skill to proceed growing enticing new checks for its varied buyer markets, and its skill to take care of turnaround occasions and hold tempo with quickly altering expertise; The Firm’s skill to take care of low inner prices to its enterprise mannequin, notably because the Firm makes investments throughout its enterprise; The Firm’s skill to take care of a suitable margin on its check gross sales, notably in mild of elevated aggressive pressures and different components which will proceed to decrease the Firm’s promoting costs and revenue margins on its checks; Dangers associated to the volatility of the corporate’s outcomes, which may fluctuate considerably from one interval to a different; dangers related to the formation of the corporate’s buyer base, which may fluctuate from interval to interval and will encompass a small variety of clients representing a big a part of the corporate’s income; The corporate’s skill to develop, diversify its buyer base and enhance demand from current and new clients; The Firm’s investments in its infrastructure, together with the group of its gross sales and operational capabilities, and the extent to which these investments have an effect on the Firm’s enterprise and efficiency and allow it to handle any development it could witness in future intervals; The corporate’s stage of success in acquiring protection and acceptable ranges of reimbursement and assortment from third events driving its checks; The corporate’s stage of success in creating and acquiring the specified advantages from partnerships, strategic investments, joint ventures, acquisitions, or different relationships; The Firm’s compliance with the assorted evolving and sophisticated legal guidelines and laws relevant to its enterprise and business; dangers related to the corporate’s worldwide operations; The corporate’s skill to guard its expertise platform; and business, financial, political and basic market situations. Because of these dangers and uncertainties, forward-looking statements shouldn’t be relied upon or considered as predictions of future occasions.
The forward-looking statements on this press launch converse solely as of the date of this press launch, and the Firm assumes no obligation to publicly replace any such forward-looking statements to replicate precise outcomes or adjustments in expectations, besides as in any other case required by regulation.
The Firm’s reviews filed with the US Securities and Trade Fee (“SEC”) together with its annual report on Type 10-Ok for the 12 months ended December 31, 2021 submitted to the US Securities and Trade Fee on February 28, 2022, and its quarterly report on Type 10-Q Filed with the Securities and Trade Fee on Might 5, 2022, and different reviews it makes occasionally, together with annual, quarterly, and present reviews submitted subsequently, can be found on the Firm’s web site when they’re filed with the Securities and Trade Fee. These reviews include extra details about the Firm, its enterprise, and the dangers affecting its enterprise, in addition to the outcomes of its operations for the intervals coated by the monetary outcomes introduced on this press launch.
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