Venaxis Appoints SomaLogic CMO and former Pfizer Executive Stephen A.
Williams, M.D., Ph.D., to Board of Directors
CASTLE ROCK, Colo., April 18, 2013
CASTLE ROCK, Colo., April 18, 2013 /PRNewswire/ --Venaxis, Inc. (Nasdaq:
APPY), an in vitro diagnostic company focused on obtaining FDA clearance and
commercializing its CE Marked APPY1 Test, a rapid, protein biomarker-based
assay for appendicitis, today announced the appointment of Stephen A.
Williams, M.D., Ph.D., Chief Medical Officer at SomaLogic, to the Company's
Board of Directors. Dr. Williams brings his experience in diagnostic imaging
and biomarker discovery to the Venaxis Board.
Steve Lundy, President and CEO of Venaxis, stated, "We are happy to welcome
Steve to our Board and look forward to the benefit of his deep experience,
both in diagnostic imaging, which is relevant to our market development and
commercial strategy for the APPY1 Test, as well as in clinical biomarker
validation, which will be instrumental to us in our evaluation and development
of future Venaxis products."
Dr. Williams stated, "The APPY1 Test is an excellent example of how
characterization of clinically relevant biomarkers can produce useful tools
for addressing important diagnostic challenges. With the potential to reduce
the safety risks associated with current diagnostic imaging techniques in the
emergency setting, I believe there is significant clinical need and utility
for the APPY1 Test. I am excited to join the Venaxis Board and to support the
further development and commercialization of this, as well as potential
future, biomarker-based diagnostic products."
Dr. Williams joined SomaLogic in 2009 as Chief Medical Officer. Prior to his
time at SomaLogic, Dr. Williams trained as a physician at Charing Cross and
Westminster Medical School, University of London, and following his
internships, returned to the same institution for a Ph.D. in medicine and
physiology. He subsequently performed three years of residency in diagnostic
imaging at the University of Newcastle upon Tyne. In 1989 he joined Pfizer
U.K. in experimental medicine and worked on a variety of programs including
asthma, irritable bowel syndrome, migraine [eletriptan], depression
[sertraline] and urinary incontinence [darifenacin]. He moved to the U.S. in
1993 with Pfizer and worked on programs in inflammatory bowel disease, stroke,
psychosis [ziprasidone] and head injury. He created the clinical technology
group in 1997, which became a worldwide function on five research sites with
the objective of validating clinical biomarkers and measurements, and was
named vice president in 2006. Dr. Williams served on the National Advisory
Council for the National Institute of Biomedical Imaging and Bioengineering
from 2004-2007 and the executive Committee of the Biomarkers Consortium run by
the Foundation for NIH from 2005-2007. In process initiatives, he led or
co-led initiatives in diagnostics, biomarkers, quality of drug candidates, and
guidelines for development teams to make the decision to start Phase 3 trials.
About Venaxis, Inc.
Venaxis, Inc. is an in vitro diagnostic company focused on the clinical
development and commercialization of its CE Marked APPY1 Test, the Company's
rapid, protein biomarker-based assay for appendicitis. This unique
appendicitis test has projected high sensitivity and negative predictive value
and is being developed to aid in the identification of patients at low risk
for acute appendicitis, allowing for more conservative patient management.
The APPY1 Test is being developed initially for pediatric, adolescent and
young adult patients with abdominal pain, as this population is at the highest
risk for appendicitis and has the highest risk of long-term health effects
associated with CT imaging. While FDA clearance is being sought, an initial
launch for the APPY1 Test is ongoing in select European countries. For more
information, visit www.venaxis.com.
This press release includes "forward-looking statements" of Venaxis, Inc.
("Venaxis") as defined by the Securities and Exchange Commission ("SEC"). All
statements, other than statements of historical fact, included in this press
release that address activities, events or developments that Venaxis believes
or anticipates will or may occur in the future are forward-looking statements.
These statements are based on certain assumptions made based on experience,
expected future developments and other factors Venaxis believes are
appropriate in the circumstances. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of
Venaxis. Investors are cautioned that any such statements are not guarantees
of future performance. Actual results or developments may differ materially
from those projected in the forward-looking statements as a result of many
factors, including our ability to successfully complete required product
development and modifications in a timely and cost effective manner, complete
clinical trial activities for the APPY1 Test required for FDA submission,
obtain FDA clearance or approval, maintain CE Marking, cost effectively
manufacture and generate revenues from the APPY1 Test at a profitable price
point, execute agreements required to successfully advance the company's
objectives, retain the management team to advance the products, overcome
adverse changes in market conditions and the regulatory environment, obtain
and enforce intellectual property rights, and realize value of intangible
assets. Furthermore, Venaxis does not intend (and is not obligated) to update
publicly any forward-looking statements. The contents of this press release
should be considered in conjunction with the risk factors contained in
Venaxis' recent filings with the SEC, including its Form 10-K for the year
ended December 31, 2012, filed on March 26, 2013.
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SOURCE Venaxis, Inc.
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