Full Press Release Details
Financial Executive Joins OncoCyte as Chief Financial Officer
Calif., November 15, 2017 - OncoCyte Corporation (NYSE AMERICAN: OCX), a developer of novel, non-invasive tests for
the early detection of cancer, today announced that Mitch Levine has been appointed Chief Financial Officer, effective November
15, 2017. With 33 years of experience in the financial industry and extensive expertise in fundraising for early stage companies
Mr. Levine will be responsible for OncoCyte's finance and financial reporting activities.
is an experienced professional with a successful healthcare track record and I am confident he will be a great addition to our
senior leadership team," said Mr. Annett. "His addition demonstrates our commitment to strengthening our management
team to execute a long term growth strategy based on the development and commercialization of novel, liquid biopsy cancer diagnostic
tests, including DetermaVu for the early diagnosis of lung cancer."
to joining OncoCyte, Mr. Levine was the Managing Partner of Kirby Cove Capital Advisors, which provides consulting services to
international life sciences investment funds regarding collaboration and investment in US-based life sciences companies. In 2002,
Mr. Levine founded Enable Capital Management and grew the firm into one of the largest and most respected brands globally in alternative
finance. Its flagship fund, Enable Growth Partners, provided growth capital to more than 500 private and publicly traded companies,
catalyzing transformative corporate innovation, job growth, and economic expansion in technology, life sciences, consumer products,
and energy. Prior to founding Enable, Mr. Levine was a founding member of The Shemano Group, a leading San Francisco-based investment
bank that focused on the capital needs of growth companies. He has also worked at Bear Stearns and Lehman Brothers. Mr. Levine
received his BA from the University of California, Davis.
has the potential to change the paradigm in the diagnosis and management of lung cancer," commented Mr. Levine. "I
look forward to working with Bill and the entire team to ensure that the Company has the resources necessary to effectively execute
its ambitious long term business plan."
OncoCyte Corporation
is focused on the development and commercialization of novel, non-invasive blood and urine ("liquid biopsy") diagnostic
tests for the early detection of cancer to improve health outcomes through earlier diagnoses, to reduce the cost of care through
the avoidance of more costly diagnostic procedures, including invasive biopsy and cystoscopic procedures, and to improve the quality
of life for cancer patients. While current biopsy tests use invasive surgical procedures to provide tissue samples in order to
determine if a tumor is benign or malignant, OncoCyte is developing a next generation of diagnostic tests that will be based on
liquid biopsies using blood or urine samples. OncoCyte's pipeline products are intended to be confirmatory diagnostics for
detecting lung, breast and bladder cancer. OncoCyte's diagnostic tests are being developed using proprietary sets of genetic
and protein markers that differentially express in specific types of cancer.
is a trademark of OncoCyte Corporation.
statements that are not historical fact (including, but not limited to statements that contain words such as "will,"
"believes," "plans," "anticipates," "expects," "estimates" and similar
expressions) are forward-looking statements. These statements include those pertaining to the implementation and results of research,
development, clinical trials and studies, commercialization plans, future financial and/or operating results, and future opportunities
for OncoCyte, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management.
Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or
commercialization of potential diagnostic tests or products, uncertainty in the results of clinical trials or regulatory approvals,
the capacity of our third-party supplied blood sample analytic system to provide consistent and precise analytic results on a
commercial scale, the need and ability to obtain future capital, and maintenance of intellectual property rights, and the need
to obtain third party reimbursement for patients' use of any diagnostic tests we commercialize. Actual results may differ
materially from the results anticipated in these forward-looking statements and accordingly as such statements should be evaluated
together with the many uncertainties that affect the business of OncoCyte, particularly those mentioned in the "Risk Factors"
and other cautionary statements found in OncoCyte's Securities and Exchange Commission filings. OncoCyte disclaims any intent
or obligation to update these forward-looking statements, except as required by law.
Haines / Michael Polyviou