ALM.L Regulatory News (ALM)

Allied Minds subsidiary Precision Biopsy appoints Adam Savakus as Chief Operating Officer

Boston, MA (11 July 2018) - Allied Minds subsidiary, Precision Biopsy, today announces the appointment of Adam Savakus as Chief Operating Officer.

This appointment represents an important investment in Precision Biopsy's regulatory and clinical expertise at a key juncture in its development as its lead diagnostic product, ClariCoreTM, enters a pivotal Cohort B study.

Adam is an accomplished medical device executive with direct experience driving successful operational, regulatory and marketing outcomes. Most recently as Executive Vice President at Relievant MedSystems, he was responsible for clinical and regulatory strategy design and execution for the Intracept device targeted at relief of chronic lower back pain. As with Precision Biopsy's ClariCore product, Intracept under Adam's leadership secured a 510(k) approval pathway and was ultimately approved by the FDA in July 2016. Prior to Relievant, Adam served as Vice President, Cinical and Regulatory Affairs at Adiana Inc (later Cytyc), and as Vice President, Clinical and Regulatory Affairs and Quality Assurance at EndoSonics. Adam holds a B.S. in Biophysics and a B.S. Bioengineering, both from The Pennsylvania State University.

Jill Smith, CEO of Allied Minds commented "We are delighted to make this investment in additional talent at Precision Biopsy. We believe Adam's direct experience in leading successful FDA outcomes, as well as in marketing and quality control, will be invaluable to the Precision Biopsy team."

Amir Tehrani, CEO of Precision Biopsy, commented "We warmly welcome Adam to the team and look forward to leveraging his highly relevant experience and skill set during this next exciting phase for our company."

Adam Savakus commented "I am excited to be joining the Precision Biopsy team given the promising clinical trial results to date and I look forward to bringing my experience and contacts to bear as ClariCore enters its pivotal Cohort B study."

ENDS

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About Allied Minds

Allied Minds plc is an IP commercialisation company focused on early stage company creation and development within the technology and life science sectors. With origination relationships spanning US federal laboratories, universities, and leading US corporations, Allied Minds sources, operates and funds a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, Allied Minds supports its businesses with capital, management, expertise and shared services.

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