Quotient Limited appoints Franz Walt as Chief Executive Officer

JERSEY, Channel Islands, May 29, 2018 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today announced the appointment of Franz Walt, as its Chief Executive Officer. Mr Walt who retired earlier this year as the President of Siemens Healthineers, Laboratory Diagnostics, is a member of Quotient's Board of Directors, and had been appointed as the interim Chief Executive Officer recently in March.

Heino von Prondzynski the Chairman of Quotient’s board of directors commented, “I have had the pleasure of working with and observing Franz’s career as he took on a variety of ever increasing responsibilities during the last 20 years. I speak for the whole board in saying we are confident that Franz brings a skill set and experiences that match very well with the needs of Quotient in this next stage of its development.”

Franz Walt added, “When I joined the board of Quotient earlier this year, I was inspired by the Company’s vision of microarray technology taking a leading position in the field of diagnostic screening. Having engaged with the team and learned more about the capabilities of MosaiQ I am more enthusiastic than ever about the potential of MosaiQ as a transformational platform. While taking this responsibility was not my original plan when I joined the board I am very excited about the potential to make a positive contribution to the introduction of such a ground breaking diagnostic technology.”

Mr Walt has 30 years' experience in leadership roles at two of the largest and most influential global healthcare companies, Siemens Healthineers and Roche.  As President, Laboratory Diagnostics at Siemens Healthineers, Franz was responsible for the recent global launch of Siemens’ next generation laboratory diagnostics platform, the Atellica Solution. Franz Walt said, “Quotient has a high quality team that I have enjoyed getting to know over the last two months. I am looking forward to working with them to provide support and direction as MosaiQ advances.”

MosaiQ Platform

MosaiQ, Quotient's next-generation platform is designed to deliver fast, comprehensive antigen typing, antibody detection and disease screening results, using a single low volume sample in a high throughput automated format. MosaiQ represents a transformative and highly disruptive unified testing platform for transfusion diagnostics. Feasibility has also been demonstrated with respect to the detection of nucleic acids (DNA or RNA) using the MosaiQ platform. Through MosaiQ, Quotient expects to deliver substantial value to donor testing laboratories worldwide by providing affordable, routine comprehensive characterization and screening of blood products, on a single automated instrument platform designed to radically reduce labor costs and complexity associated with existing practice.

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 include statements regarding our expectations relating to our management team and the development, regulatory approval, commercialization and impact of MosaiQ.  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:Chris Lindop, Chief Financial Officer – chris.lindop@quotientbd.com; +41 22 545 52 26 

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Source: Quotient Limited