Full Press Release Details
Healthcare Executive Albert P. Parker Appointed
Operating Officer of OncoCyte
Calif., August 9, 2018 - OncoCyte Corporation (NYSE American: OCX), a developer of novel, non-invasive liquid biopsy
tests for the early detection of cancer, today announced the appointment of Albert P. Parker, a seasoned industry executive with
over 25 years of pharmaceutical, biotech and healthcare experience, as Chief Operating Officer.
welcome Al to OncoCyte and I, along with the other senior executives, look forward to his many contributions," commented
William Annett, President and CEO. "His business development and operational expertise enhances the team and increases our
depth as we further advance the development of DetermaVu , our liquid biopsy lung cancer diagnostic test, toward commercialization
to joining the Company, Mr. Parker served as the Managing Shareholder of GC Legal Advisors, where he represented and advised public
and privately held companies primarily in the life sciences industry. Mr. Parker has extensive experience working with companies
to maximize commercial and strategic opportunities and has played a central role on numerous business development transactions.
An attorney with global experience, Mr. Parker has developed deep cultural intelligence managing diverse and cross-functional
teams in highly matrixed environments. Among his prior roles, Mr. Parker has served as Executive Vice President, General Counsel
and Corporate Secretary at Sunovion Pharmaceuticals, Senior Vice President & Chief Counsel for Wyeth Pharmaceuticals, and
Partner at Schnader Harrison Segal & Lewis, L.L.P.
focus on creating innovation in liquid biopsies, combined with its lead product DetermaVu, provides for unique strategic and operational
growth opportunities and I am excited to join the team," commented Mr. Parker.
is OncoCyte's confirmatory, non-invasive, liquid biopsy test intended to facilitate clinical decision making in lung
cancer diagnosis. DetermaVu is being developed as an intermediate step to confirm the absence of cancer between imaging
modalities (LDCTs) detecting suspicious lung nodules and downstream invasive procedures that determine if the nodules are malignant.
OncoCyte estimates that a $4.7 billion annual market could develop in the U.S. for its confirmatory lung cancer liquid biopsy
test, depending on market penetration and reimbursable pricing.
is a trademark of OncoCyte Corporation.
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. Early detection of cancer can improve health outcomes, reduce the cost of care, and improve
patients' quality of life. Liquid biopsy diagnostic tests like those OncoCyte is developing may reduce the need for costlier
and riskier diagnostic procedures such as invasive biopsy and cystoscopic procedures. OncoCyte's development pipeline is
focused on non-invasive confirmatory diagnostic tests for lung, breast, and bladder cancer. OncoCyte's tests are being developed
using proprietary sets of genetic and protein molecular markers that differentially express in specific types of cancer. OncoCyte
conducts ongoing research to identify additional molecular markers, acquire or license markers and related technology, and develop
tests based on those markers.
Forward Looking Statements
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