Netscientific Regulatory News (NSCI)

NetScientific plc

Ex Novartis Diagnostics president, Gene Walther is appointed CEO of Vortex BioSciencesand NetScientific's Head of Diagnostics

Board Change

London, UK - 14 December 2015 - NetScientific plc (AIM: NSCI, 'NetScientific' or the 'Group'), the transatlantic biomedical and healthcare technology group, continues its restructuring towards a sector franchise model with the appointment of Gene Walther. Gene will become CEO of the Group's portfolio company, Vortex BioSciences ('Vortex'), and head of NetScientific's diagnostics franchise, of which Vortex is the key asset.

Gene will replace Vortex BioSciences interim CEO, Dr Michael Boyce-Jacino who is leaving the Group and Board of Directors at the end of December 2015.

Gene will join on 4 January 2015 to accelerate the development and delivery of Vortex's laboratory systems and spearhead the co-ordination and delivery of the Group's diagnostics portfolio. Gene brings over 20 years' impressive experience as a leading diagnostics executive with a proven track record in creating innovative and profitable growth strategies, globalising businesses and building strategic partnerships across the diagnostic, medical device and biotech spaces.

Gene has spent several years in the global health arena, most recently as a Consultant to the Paul G. Allen Family Foundation where he advised on their Ebola strategy with a particular focus on the role of diagnostics. Prior to this, he was the Deputy Director, Diagnostics, for the Bill & Melinda Gates Foundation. He served as the Executive Chairman of the Board of GenturaDx where he led this start-up diagnostics firm through product and company development leading to a strategic acquisition by Luminex. He spent over 11 years at Novartis as President and Global Head of Diagnostics and several roles at Chiron including President and Vice President across the diagnostics and global commercial development teams.

Continuing on from the recent appointment of the CEO of WANDA and head of the Digital Health Franchise, the Group has begun to reorganise its management team, moving from its geographical focused model towards a sector franchise based organisation. This model will better support the Group's strategic aim of accelerating the commercialisation of its portfolio which is focused on three key healthcare areas - diagnostics, digital health and therapeutics. A fuller update on the Group's restructure will be made early next year.

Francois Martelet, Group CEO of NetScientific, commented:

"Gene is highly respected in the diagnostics space and we are delighted to be able to welcome someone with such impressive expertise and commercial prowess to the Group. Gene's experience and calibre will further strengthen our team to help drive our commercialisation programme for Vortex and our entire diagnostics franchise, as part of our planned management restructure.

"I'd also like to thank Michael for his contribution to the Group and dedication in helping build our US business. On behalf of the Board we wish him all the best for the future."

Gene Walther said:

"Vortex has the potential to revolutionise the way cancer is diagnosed, monitored and treated. I'm excited to be able to play a role in the commercialisation of this technology. I also look forward to working with NetScientific's impressive team and across its innovative mix of diagnostic companies which have the potential to become first or best in class technologies. Our vision is to improve the lives of people living with chronic diseases all over the world."

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About NetScientific

NetScientific is a biomedical and healthcare technology group that funds and develops technologies that offer transformative benefits to people's lives and society through improved diagnosis, prognosis and treatment.

For more information, please visit the website at www.netscientific.net. 

About Vortex BioSciences Inc.

Vortex BioSciences is a cancer diagnostic instrument company developing the Vortex VTX-1 bench top instrument, which runs a simplified, high-speed blood test for a wide range of metastatic cancers. The instrument harvests live CTCs from patient blood samples for use in downstream clinical applications such as monitoring disease progression and drug treatment effectiveness. The Company will sell laboratory instruments along with single use cartridges for each blood sample. For more information, please visit the website at www.vortexbiosciences.com.