PRESS RELEASE: INSIDE INFORMATION/ REGULATED INFORMATION
11 April 2023, 22:00 CEST
Biocartis appoints Roger Moody as new CEO
- Roger Moody to be appointed as new Chief Executive Officer and member of the Board of Directors
- Herman Verrelst, current Chief Executive Officer, will move into the position of Executive Chairman of the Board of Directors
- Additional extensive experience in the US diagnostic market while leveraging existing knowledge and relationships
Mechelen, Belgium, 11 April 2023 - Biocartis Group NV (the ‘Company’ or ‘Biocartis’), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announces changes to its executive management. Roger Moody has been appointed to the position of Chief Executive Officer effective 24 April 2023. Herman Verrelst, who has been the Company’s Chief Executive Officer since August 2017 will move into the new position of Executive Chairman of the Board of Directors but will no longer be part of the executive management. Mr. Moody will also become a member of the Board of Directors, subject to the approval by the Company’s general shareholders’ meeting. Christian Reinaudo, who has served as Chairman of the Board since May 2018 will assume the role of Lead Independent Director, to act as principal liaison between the non-executive members of the Board and the executive leadership team.
Roger Moody has more than 30 years of experience in the technology and healthcare industry and brings a unique combination of deep knowledge of molecular diagnostics in the US and a proven track record of scaling up public companies. Roger has held various senior executive positions leading strategic business development, scaling manufacturing and commercial operations and securing funding in both private and public offerings. Prior to joining Biocartis, he served as CEO of GlySure Limited, whose primary assets were sold to Baxter International (NYSE: BAX), and held the CFO position at Nanosphere, now part of DiaSorin (Euronext Milan: DIA), Clinical Genomics, Inc., a colorectal cancer diagnostics company and most recently Talis Biomedical (Nasdaq: TLIS), a point-of-care molecular diagnostics company.
The appointment is motivated by a stronger orientation of the Company toward the US market, after having already appointed Bryan Dechairo to the Board of Directors on 21 February 2023. Subject to the approval by the general shareholders’ meeting of Mr. Moody’s appointment as director, 3 out of 7 directors will be US citizens with a wealth of experience in the US diagnostic industry. An enhanced focus on the US is pivotal to Biocartis’ continued growth and Roger Moody’s appointment will add to commercial success in the US, the further build-out of the partner network and access to the US investor base.
Herman Verrelst will ensure operational continuity during a transition period and further support the new CEO in investor relations, financing matters and strategic partnering. Christian Reinaudo will remain the Chairman of the Remuneration and Nomination Committee, and will act as Lead Independent Director, ensuring the independence of the Board of Directors from the Company's executive leadership team.
Herman Verrelst commented: “We are pleased to welcome Roger to Biocartis. Roger brings a wealth of experience in building value in rapidly growing molecular diagnostics companies, and I look forward to partnering with him to continue expanding our fast-growing core oncology business. Together we will focus on the key drivers of continued growth by continuing to expand our menu in oncology with novel tests and by making our decentralized diagnostic solutions available to a growing customer base around the world.”
“Biocartis’ record of growth has been impressive, and its fundamentals are very strong,” said Roger Moody. “Biocartis’ unique ability to address the unmet need for automation, ease-of-use and fast turn-around times in molecular oncology testing is well-recognized. I look forward to work with Herman and the executive leadership team to continue to expand our molecular diagnostic product offering and to strengthen our foothold in key markets such as the US.”
Christian Reinaudo, the former Chairman of the Board of Directors, added: “The Board of Directors is convinced that the new executive leadership will bring continuity to the further accomplishment of Biocartis’ mission while adding additional experience that we believe is essential to ensure the further growth of the Company towards profitability.”
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More information:
Renate Degrave
Head of Corporate Communications & Investor Relations Biocartis
e-mail rdegrave@biocartis.com
tel +32 15 631 729
mobile +32 471 53 60 64
About Biocartis
With its revolutionary and proprietary Idylla™ platform, Biocartis (Euronext Brussels: BCART) aspires to enable personalized medicine for patients around the world through universal access to molecular testing, by making molecular testing actionable, convenient, fast and suitable for any lab. The Idylla™ platform is a fully automated sample-to-result, real-time PCR (Polymerase Chain Reaction) based system designed to offer in-house access to accurate molecular information in a minimum amount of time for faster, informed treatment decisions. Idylla™'s continuously expanding menu of molecular diagnostic tests address key unmet clinical needs, with a focus in oncology. This is the fastest growing segment of the molecular diagnostics market worldwide. Today, Biocartis offers tests supporting melanoma, colorectal, lung and liver cancer, as well as for COVID-19, Flu, RSV and sepsis. For more information, visit www.biocartis.com or follow Biocartis on Twitter @Biocartis_ , Facebook or LinkedIn.
Biocartis and Idylla™ are registered trademarks in Europe, the United States and other countries. The Biocartis and Idylla™ trademark and logo are used trademarks owned by Biocartis. Please refer to the product labeling for applicable intended uses for each individual Biocartis product.
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Forward-looking statements
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company's or, as appropriate, the Company directors' or managements' current expectations and projections concerning future events such as the Company's results of operations, financial condition, liquidity, performance, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
