Biocept, Inc. (NASDAQ:BIOC), a leading commercial provider of molecular diagnostic tests and services, has announced the appointment of Samuel D. Riccitelli to its board of directors, effective immediately.
The group said Riccitelli brings to Biocept extensive experience in the molecular diagnostics industry, having served in executive-level positions and on the boards of multiple publicly traded companies. At Biocept, he will initially serve on the Audit Committee and the Science and Technology Committee.
It added that he is joining ahead of the planned retirement of Bruce A. Huebner, who will retire from the Biocept board of directors on November 30, 2020.
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"Sam's proven success with high-growth diagnostics companies, strong knowledge of the public equity markets and extensive corporate governance experience make him a welcome addition to our Board. We expect Sam will make significant contributions toward achieving our strategic growth initiatives and opening new opportunities as we build upon our position as a leader in molecular diagnostics and continue to rapidly grow," said Biocept Chairman David F. Hale in a statement.
"We very much appreciate the many contributions Bruce has made as a valued member of our Board for the past seven years, consistently bringing to Biocept keen insights in diagnostics sales, marketing and reimbursement. We wish him well in his retirement."
"This is an exciting time to join the Biocept Board as liquid biopsy moves toward the goal of becoming standard of care and the company is experiencing rapid growth with its infectious disease offering," Riccitelli commented.
"I see a substantial opportunity for Biocept and its proprietary Target Selector technology to play an ever-increasing role in improving clinical outcomes for patients. I look forward to working with the team in advancing Biocept's programs and delivering value to stockholders."
Biocept noted that Riccitelli has been in the healthcare industry for more than 35 years. He currently serves as an independent consultant to healthcare companies and is a Director of OrthoPediatrics Corp. (NASDAQ:KIDS), a company focused on the orthopedic implant needs of children. He previously was Chief Executive Officer of Pathnostics, LLC, a molecular diagnostics company focused on improving antibiotic stewardship.
Prior to that, he served as Chairman of Precipio, Inc., a publicly-traded diagnostic services company, as President, Chief Executive Officer and Director of Signal Genetics, Inc., a publicly-traded molecular diagnostic company acquired by miRagen Therapeutics, Inc., and as Executive Vice President and Chief Operating Officer of Genoptix, Inc., a publicly-traded diagnostic company acquired by Novartis.
Biocept is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma. The company uses its proprietary liquid biopsy technology to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with cancer.
The company's patented Target Selector liquid biopsy technology platform captures and analyzes tumor-associated molecular markers in both circulating tumor cells (CTCs) and in circulating tumor DNA (ctDNA). With thousands of tests performed, the platform has demonstrated the ability to identify cancer mutations and alterations to inform physicians about a patient's disease and therapeutic options.
In addition, Biocept conducts coronavirus (COVID-19) testing to support efforts to fight the pandemic.
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