ALAMEDA, Calif., Nov. 08, 2016 (GLOBE NEWSWIRE) -- OncoCyte Corporation (NYSE MKT:OCX), a developer of novel, non-invasive blood-based tests for the early detection of cancer, today announced that Lyndal Hesterberg, Ph.D. has been promoted to Senior Vice President, Research and Development, a newly created position reporting to William Annett, OncoCyte’s Chief Executive Officer. In his new role, Dr. Hesterberg will oversee the Company’s research, development, clinical and regulatory teams.
Dr. Hesterberg joined OncoCyte as a consultant in 2015 and was named Vice President of Development in February of 2016. He has worked extensively as an industry consultant to medical and biotech companies providing counsel on clinical trial design, product development and corporate strategy. During his career he has helped bring to market many diagnostic products via both the FDA and Laboratory Developed Test regulatory pathways. Dr. Hesterberg was the Chief Technical Officer at Crescendo Biosciences where he was responsible for clinical trials, laboratory operations, manufacturing and quality systems and helped bring to market Vectra DA. Prior to that he was the President and CEO of Barofold, Inc., where he led the company from product conception through its clinical stage. He also has served as a founder and EVP of Scientific Affairs at Thermo Biostar, Director of Product Development at Syngene, and Manager of Diagnostic Product Development at Amgen. He received his Ph.D. in biochemistry from the University of St. Louis and a Bachelor of Science from the University of Illinois.
“Lyndal’s contribution to our R&D efforts are invaluable, and he is spearheading the development of our lung cancer test,” commented Mr. Annett. “This newly-created position will focus our R&D organizational structure as we move towards the potential launch of our lung cancer diagnostic test in the second quarter of 2017. I am confident that Lyndal’s industry expertise and success bringing products to market will enable him to excel in this role.”
“I continue to be impressed with the depth of OncoCyte’s science and robust product development pipeline,” commented Dr. Hesterberg. “I look forward to continued progress towards launching our lung cancer diagnostic test, and to the development of other tests, such as one for breast cancer.”
About OncoCyte Corporation
OncoCyte is primarily 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, bladder and breast cancer. OncoCyte’s diagnostic tests are being developed using proprietary sets of genetic and protein markers that differentially express in specific types of cancer.
Forward Looking Statements
Any 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) should also be considered to be forward-looking statements. These statements include those pertaining to the implementation and results of our validation study and other studies, commercialization plans, future financial and/or operating results, future growth in research, technology, clinical development, and potential 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 need and ability to obtain future capital, and maintenance of intellectual property rights, and the need to obtain third party reimbursement for patient’s use of any diagnostic tests we commercialize. Actual results may differ materially from the results anticipated in these forward-looking statements and as such 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.