GAITHERSBURG, Maryland, September 27, 2017 /PRNewswire/ --
Avant Diagnostics, Inc. ("Avant" or the "Company") (OTC: AVDX),
an oncology-focused healthcare technology company commercializing the proprietary Theralink® phospho-protein biomarker platform
across multiple cancers, today announced newly appointed President & CEO Philippe Goix
delivered an address to shareholders outlining his assessment of the Company's potential and the path forward the Company intends
to take in order to succeed in commercializing and revamping the Company's proprietary technologies.
To read the letter, go to the Company's website http://www.avantdiagnostics.com. The Company has also filed a copy of the letter on a Current Report on Form
8-K and available on the Securities and Exchange Commission's website at http://www.sec.gov .
Dear Shareholders,
It is with an incredible sense of purpose based upon 20 years of experience in the diagnostics and life sciences fields
that I chose to take on the tremendous challenges and opportunities laying before Avant Diagnostics, Inc. ( "
Avant " or the " Company " ) as President & CEO. In the past 18 months,
Avant acquired a set of unique, proprietary technologies that have the potential to substantially improve the practice of
medicine in key areas of oncology, neurology, and autoimmune disease.
With the right business model, these technologies can bring tremendous innovation around health and chronic disease
management by focusing on delivering better precision medicine to patients. Upon exercise of our exclusive option to the Genetic
Health Solution (GHS) platform, we intend to bring precision wellness solutions into our business model. GHS '
platform leverages specific patient wellness blood and urine monitoring information and ties it to nutrition support focused
on improving personalized wellness for patients. By supporting all healthcare stakeholders, this unique dual approach we believe
will contribute to reducing the staggering cost of chronic disease and cancer care management, a significant portion of the
unsustainable 17% burden healthcare component of US GDP My passion and vision is to turn Avant into a precision health/wellness
information company that ultimately benefits three key stakeholders of this complex healthcare cost ecosystem: Patients,
Providers and Payers. In addition, Avant ' s ultimate objective is to deliver personalized clinical and
science-based actionable content to empower and educate patients and consumers to improve their compliance and optimize their
health.
In the near-term, Avant will focus on establishing a blood and urine patient monitoring CLIA laboratory to generate revenue
and support the commercialization of the Theralink® tumor analysis platform. We will continue academic collaborations to develop
its other diagnostic platforms in the areas of neurology and autoimmune disease. Theralink® for Breast Cancer was previously made
available to oncologists in the commercial marketplace via the Laboratory Developed Test (LDT) regulatory pathway in a
CLIA/CAP certified laboratory environment. This significant milestone for Theralink has provided me with a wealth of
supporting information regarding commercialization of the platform, including initial information on reimbursement.
It has become clear, through my discussions with Key Opinion Leading (KOL) oncologists who have previously used the
technology in their clinical practice, that Theralink® provided value-added information beyond what is currently available in the
marketplace today to allow these KOLs to make more rational prescribing decisions regarding the likely benefit of various
chemotherapy treatment options for patients versus the risk of side effects. Moving forward, we are now refining our commercial
strategy, including the sequence in which Theralink® assays will be launched, to serve the customer base we intend to target as
we prepare to re-launch Theralink® into the market. In parallel we are evaluating how best to serve out existing Pharma Services
customers that have helped us validate our technology.
Avant is currently facing the following short-term challenges:
i) Make the company ' s financial filings current with the SEC
ii) Manage all its current and past investor expectations
iii) Raise capital to build the balance sheet and reduce current debt
iv) Implement a pragmatic commercial strategy that will bring commercial momentum and revenue, immediately leveraging
Avant ' s commercial ready Theralink® oncology proprietary assets.
Over the last three months, with the help of bridge financing from our Board of Directors and related investors, we have
been able to focus on making progress in getting the company current in its SEC filings, build a commercial strategy around the
Theralink® oncology platform, engage a commercial ready team, and communicate with certain creditors who have given us the
latitude to begin to move the Company ' s business plan forward.
In summary, while Avant has faced and will continue to face challenges as we transition into the commercial phase of the
Company ' s life cycle, I am confident that we will overcome these challenges, and that we will attract the
resources needed to execute on our strategy and start to execute against our exciting vision. I would like to thank each of you
for your resolve and commitment to Avant, and I look forward to communicating with you in the future as we begin to make progress
on our objectives.
Sincerely,
Philippe Goix
President & CEO
About Avant Diagnostics, Inc.
Avant is a healthcare information solutions company that specializes in biomarker tests that are being developed in the areas
of oncology and neurology. Avant provides personalized medicine diagnostic testing capabilities through its TheraLink® diagnostic
assays, initially for breast cancer, to assist clinical oncologists in identifying likely responders for over 30 FDA-approved
drug treatment regimens. Avant is the leading developer of phospho-proteomic technologies for measuring the activation
status of key signaling pathways, with applications across several different cancer types, including breast, ovarian, colorectal
and pancreatic, that are instrumental in the development of companion diagnostics for molecular-targeted therapies.
Avant is also developing OvaDx® for use in monitoring women diagnosed previously with ovarian cancer. OvaDx® is a
sophisticated proteomic microarray-based test that measures the activation of the immune system markers in blood samples in
response to ovarian tumor cell development.
Avant's neurology division was recently acquired from Amarantus Bioscience Holdings, Inc. (OTC: AMBS) and owns certain rights
to next-generation DNA sequencing (NGS) assay for the identification of patients with autoimmune disorders, and has an exclusive
license to The LymPro Test™ for Alzheimer's disease, which was developed by Prof. Thomas Arendt,
Ph.D., from the University of Leipzig. The Company also owns intellectual property for the
proteomic-based diagnosis of Parkinson's disease (NuroPro), and other cell-cycle-related disorders.
For further information please visit http://www.Avantdiagnostics.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform
Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast,"
"estimated" and "intend," among others. These forward-looking statements are based on Avant's current expectations and actual
results could differ materially. There are a number of factors that could cause actual events to differ materially from those
indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our ability
to continue as a going concern; our need for additional financing; uncertainties with respect to lengthy and expensive clinical
trials, that results of earlier studies and trials may not be predictive of future trial results; and risks related to failure to
obtain FDA clearances or approvals and noncompliance with FDA regulations. There are no guarantees that future clinical trials
discussed in this press release will be completed or successful, or that any product will receive regulatory approval for any
indication or prove to be commercially successful. Avant does not undertake an obligation to update or revise any forward-looking
statement except as required by law. Investors should read the risk factors set forth in Avant's Form 10-K filed with the
Securities and Exchange Commission on January 13, 2016, and other periodic reports filed with the
Securities and Exchange Commission.
Investor and Media Contact:
Ascendant Partners, LLC
Richard Galterio
+1-732-410-9810
rich@ascendantpartnersllc.com
SOURCE Avant Diagnostics, Inc.