ANAVASI DIAGNOSTICS ANNOUNCES NEWLY ELECTED OUTSIDE BOARD OF DIRECTORS

The New Board Members Will Bring Industry Experience to Contribute to Company Growth

WOODINVILLE, Wash., Nov. 2, 2022 /PRNewswire/ -- Anavasi Diagnostics ('Anavasi'), an NIH/RADx medical technology company focused on the development of novel molecular diagnostic testing, recently announced the election of three new outside members to its Board of Directors, Bryan Crane, PhD, Arthur Kirsch, and David Vied.

"We are thankful to have these three talented individuals join the board," said Nelson Patterson, President, and CEO of Anavasi Diagnostics. "They all bring valuable personal perspectives and professional experience to the Board that will greatly contribute to the growth of Anavasi as we complete our clinical trials, broaden our product development and portfolio, and work towards commercialization."

Bryan Crane, Ph.D. is currently the Vice President, Head of System Design at Illumina (NSDQ: ILMN), a global leader in the field of instrumentation for genomic analysis. Dr. Crane has served in R&D at Illumina for 15 years and has been deeply involved in the innovation and productization of several generations of market-leading instrumentation and consumable platforms. Dr. Crane is responsible for collaborative optimization of product architecture, prioritizing R&D investment, evolving the development process, and maintaining partnerships with worldwide suppliers. He is also responsible for growing and developing a large engineering team, instilling the innovative, fast-moving R&D culture of Illumina.

Arthur Kirsch is currently a director of Liquidia Corp. (Nasdaq: LQDA) a biopharmaceutical company focused on the development and commercialization of products for pulmonary hypertension. He has served on several public company boards, typically as an audit committee member. Arthur had a 40+ year career (Drexel Burnham, Vector Securities, GCA Global) in investment banking working with a variety of companies, from start-ups to large public entities. He specialized in healthcare, advising companies on everything from capital raising to strategic transactions.

David L. Vied is the Global Sector Leader for the Medical Devices practice for Korn Ferry. He additionally serves as a director of Cyanotech Corporation (Nasdaq: CYAN), a developer and marketer of microalgae based nutritional supplements. For over 25 years, David has advised medical device clients on talent management and talent assessment issues, addressing such topics as CEO succession, innovation and transformation acceleration, and executive development. He has conducted search assignments in areas that range from medical affairs, research and development, and regulatory compliance through to CEO and board roles. His clients run the gamut of the industry, from pre-revenue start-up to established and dominant multi-billion-dollar market cap environments.

Mr. Crane, Mr. Kirsch, and Mr. Vied join a seasoned executive team of Board of Directors, led by the President and CEO, Nelson Patterson. During his career, Mr. Patterson has moved between international conglomerates (Procter & Gamble, Baxter International) to early-launch, high-growth startups (SonoSite, Aerogen, HealthySole). While at Baxter, Patterson oversaw the purchase and integration of SIGMA Medical devices into the Baxter Infusion Systems portfolio and ran the BioPharma Solutions (BPS) contract drug manufacturing business unit as General Manager. His background also includes extensive new product design and development, production, fundraising, sales, and marketing.

The remaining Board of Directors are:

• Barry Lutz, Ph.D. – Co-Founder and Chief Scientific Officer
• Bob Atkinson – Co-Founder and Chief of Innovation and Technology
• Minh Duong – Co-Founder and Chief Engineer
• Pat Atkinson – Controller and Investor
• Debra Patterson, Ph.D. – Vice President of Regulatory Affairs and Investor

To date, Anavasi has completed a $6.0 million Seed Round (convertible note), a $2.6 million Founder's Round, and is currently raising funds in a previously announced $20M Series A round. In November 2021, the company was awarded $14.9 million from the National Institutes of Health (NIH) Rapid Acceleration of Diagnostics (RADx) initiative to accelerate the launch and broad market availability of the AscencioDx™ molecular diagnostic platform for the detection of RNA indicative of the SARS-CoV-2 / COVID-19 virus.

Anavasi Diagnostics is a rapidly growing medical technology company focused on developing novel molecular diagnostic testing using a proprietary reverse transcriptase methodology (patent-pending). As a spin-out of the University of Washington, Anavasi's technology platform was developed by renowned researchers in UW's bioengineering department. The Company's quest to successfully commercialize this technology is led by top medical device and clinical diagnostics executives, manufacturing experts and a former Microsoft software veteran. The team's combined experience has been responsible for the introduction of more than forty medical/diagnostic products and hundreds of peer-reviewed research publications. More information can be obtained at https://anavasidx.com.

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SOURCE Anavasi Diagnostics