Company Announces Appointment of John Fletcher
MAPLE GROVE, MN, October 19, 2020 – StemoniX, Inc. is pleased to announce the appointment of Mr. R. John Fletcher to the Company’s Board of Directors. Mr. Fletcher brings more than 30 years of strategy and financing experience across the Pharmaceutical and Healthcare Industry to the Board. He is currently Managing Partner of Fletcher Spaght Ventures, a venture capital fund, and the founder and CEO of Fletcher Spaght, Inc., a consulting firm that he founded in 1983 to provide growth-focused strategy assistance to client companies.
Mr. Fletcher’s current and past board experience spans public and private companies including Alimed, AutoImmune, Axcelis, Fischer Imaging, GlycoFi, NMT Medical, Panacos Pharmaceuticals, Quick Study Radiology and Spectranetics in addition to many academic and non-profit institutions. Notable milestones include the $2B and $400M acquisitions by Fortune 500 companies of Spectranetics and GlycoFi, respectively, as well as being awarded the National Association of Corporate Directors (NACD) Director of the Year Award in 2018, specifically for his unparalleled work at Spectranetics.
He is a graduate of Southern Illinois University (MBA), Central Michigan University (Master’s Degree in International Finance), and George Washington University (BA) and has served as an instructor in International Business at the Warton School as well as a Captain and jet pilot in the United States Air Force.
Ping Yeh, StemoniX CEO and co-founder said, “John is a world-class Board and corporate governance professional with a track record of successful ventures and deep knowledge of drug discovery and development. We are thrilled to have his expertise on our Board of Directors to guide us in our transformation of how drugs are developed.”
StemoniX recently announced a definitive agreement to merge with Cancer Genetics, Inc. (Nasdaq: CGIX) to span the drug development process from early stage through pre-clinical. The merger is expected to be completed before the end of 2020 and that Mr. Fletcher will be elected to the CGIX Board as a StemoniX-nominated director.
“StemoniX is at an exciting junction,” stated Mr. Fletcher. “The technology pioneered by StemoniX and its ease of use is inspiring. Furthermore, their upcoming merger with CGIX will lead the way toward cures for many diseases affecting both children and adults. I’m extremely honored to take on this position – especially at this time.”
StemoniX is empowering the discovery of new medicines through the convergence of novel human biology and software technologies. StemoniX develops and
manufactures high-density, at-scale human induced pluripotent stem (iPSC) cell-derived neural and cardiac screening platforms for drug discovery and development. Predictive, accurate, and consistent, these human models enable scientists to quickly and economically conduct research with improved outcomes in a simplified workflow. Through collaborations with drug discovery organizations, StemoniX tests compounds in-house, creates new cell-based disease models, and operationalizes custom human iPSC disease models at large scale for high-throughput screening. With leading-edge iPSC technologies and data science, StemoniX is helping global institutions bring the most promising medicines to patients. To learn more about how StemoniX products and services are accelerating discoveries, please visit www.StemoniX.com.
Forward Looking Statement: This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). StemoniX, Inc.’s disclaims any intent or obligation to update these forward-looking statements and claims the protection of the Safe Harbor for forward-looking statements contained in the Act. Examples of such statements include, but are not limited to, statements relating to StemoniX, Inc.’s research activities, expectations of current and future board member activities, future financial and/or operating results, and potential for our services, future revenues or growth. Any statements that are not historical fact (including, but not limited to, statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties. Such statements are based on current expectations, but actual results may differ due to a variety of risks and uncertainties.
Ping Yeh, CEO
Phone: (612) 807-9889