Quotient Limited Announces CFO Transition

JERSEY, Channel Islands, Nov. 02, 2016 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, announced today that the company and Stephen Unger, Chief Financial Officer, have mutually agreed that he will leave Quotient to pursue other career opportunities. His last day will be November 2, 2016. The company intends to engage a leading executive recruiting firm to assist with its search for the next Chief Financial Officer.

Chairman and Chief Executive Officer, Paul Cowan, commented, “We greatly appreciate Steve’s leadership and many contributions to Quotient as part of our senior management team. Steve played an integral role in our initial public offering and subsequent financings, and helped develop and implement our operational and financial strategy during a period of significant change. On behalf of everyone at Quotient, I wish Steve every success in the future. I am also confident that we will quickly find the best candidate to support our growth initiatives.”

Quotient also announced today that Roland Boyd has accepted an appointment to serve as the Interim Chief Financial Officer of Quotient while the company conducts its search to fill the position on a permanent basis.

“As our Group Financial Controller and Treasurer, Roland has a thorough understanding of our business,” added Mr. Cowan. “His willingness to accept the role of Interim Chief Financial Officer ensures a seamless transition of responsibilities.”

About Quotient Limited

Quotient is a commercial-stage diagnostics company committed to reducing healthcare costs and improving patient care through the provision of innovative tests within established markets. With an initial focus on blood grouping and serological disease screening, Quotient is developing its proprietary MosaiQTM technology platform to offer a breadth of tests that is unmatched by existing commercially available transfusion diagnostic instrument platforms. The Company’s operations are based in Edinburgh, Scotland; Eysins, Switzerland and Newtown, Pennsylvania.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include statements related to our change in management. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include delays or denials of regulatory approvals or clearances for products or applications; market acceptance of our products; the impact of competition; the impact of facility expansions and expanded product development, clinical, sales and marketing activities on operating expenses; delays or other unforeseen problems with respect to manufacturing, product development or field trial studies; adverse results in connection with any ongoing or future legal proceeding; continued or worsening adverse conditions in the general domestic and global economic markets; as well as the other risks set forth in the Company's filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Quotient disclaims any obligation to update these forward-looking statements.

The Quotient logo and MosaiQ™ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.

CONTACT: Paul Cowan, Chairman & Chief Executive Officer – paul.cowan@quotientbd.com; +41 79 476 2206

Source:Quotient Limited