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Christopher S. Destro Joins Atossa Genetics, Inc. (ATOS) as Vice President of Sales and Marketing



12/21/2012 8:31:06 AM

SEATTLE, WA--(Marketwire - December 21, 2012) -

Atossa Genetics, Inc. (NASDAQ: ATOS), The Breast Health Company™, announced today that Christopher S. Destro has joined the Company as Vice President of Sales and Marketing, reporting to Dr. Steven C. Quay, MD, PhD, FCAP, Chairman, CEO and President. Mr. Destro, an industry veteran with over 16 years of successful sales and client management expertise within the clinical sector of diagnostic biotechnology, will be responsible for product marketing, distribution and sales.

"The Company is very fortunate to have Christopher Destro join us as Vice President of Sales and Marketing at this pivotal time," said Dr. Quay. "As we accelerate the national roll-out of our ForeCYTE and ArgusCYTE Breast Health Tests in early 2013, Chris' extensive industry experience and in-depth market and technical expertise will be invaluable in helping us achieve our ambitious growth objectives."

"Atossa Genetics is an exciting and dynamic opportunity and I look forward to working with the team to commercialize the Company's products and services for the benefit of millions of women. Atossa has already demonstrated the ability to make a difference in women's lives," commented Mr. Destro. "Over the past two decades, I have assembled and led teams that have achieved high growth in the diagnostic biotechnology solutions markets. I look forward to contributing to the next phase of Atossa's growth as we expand the commercialization of our innovative products and services in the U.S."

Mr. Destro continued, "One of the things that attracted me to Atossa is its novel and revolutionary approach to diagnosing, treating and preventing Breast Cancer. I believe this uniquely positions us to expand the commercialization of our potentially life-saving and market-changing solutions at a time when the need is greater than ever."

From 2007 to 2011, Mr. Destro, (42), served in increasingly responsible positions including Vice President of Sales, North America, for three divisions of Magellan Biosciences, where he managed sales of automated blood culture and automated susceptibility instrumentation for Trek Diagnostics, automated immunochemistry for Dynex and a lead care platform for Point of Care testing. In July 2011, Magellan was acquired by Thermo Fisher Scientific, where Mr. Destro became a commercial leader of the Microbiology Division, working with national contracts, distribution channels, and direct sales in the clinical, pharmaceutical, and industrial markets. Prior to joining Magellan, Mr. Destro served as Americas Sales Director for International Bioproducts from 2000 to 2007, where he managed sales of core food pathogen diagnostic (ELISA) products while leading 17 distributors for the United States, Canada, Mexico and Latin America. Mr. Destro holds a Bachelor of Science degree in Microbiology from Ohio State University.

On December 20, 2012, and as an inducement to cause Mr. Destro to join the Company, he was awarded an option to purchase a total of 200,000 shares of common stock of the Company, par value $0.001 per share, outside the Company's 2010 Stock Option and Incentive Plan. The stock option has an exercise price equal to $4.11 per share, the fair market value on the grant date and vests over a four-year period from his commencement of service. This stock option was granted as an inducement material to Mr. Destro's entering into employment with the Company and is being reported in accordance with NASDAQ Listing Rule 5635(c)(4).

About Atossa Genetics, Inc.

Atossa Genetics, Inc. (NASDAQ: ATOS), The Breast Health Company™, is based in Seattle, WA, and is focused on preventing breast cancer through the commercialization of patented, FDA-cleared diagnostic medical devices and patented, laboratory developed tests (LDT) that can detect precursors to breast cancer up to eight years before mammography, and through research and development that will permit it to commercialize treatments for pre-cancerous lesions.

The National Reference Laboratory for Breast Health (NRLBH), a wholly owned subsidiary of Atossa Genetics, Inc., is a CLIA-certified high-complexity molecular diagnostic laboratory located in Seattle, WA, that provides the patented ForeCYTE Breast Health Test, a risk assessment test for women 18 to 73 years of age akin to the Pap Smear, and the ArgusCYTE Breast Health Test, a blood test for recurrence in breast cancer survivors that provides a "liquid biopsy" for circulating cancer cells and a tailored treatment plan for patients and their caregivers.

For more information about this press release, please click the following link: http://client.irwebkit.com/AtossaGenetics/media to view a video interview with Dr. Quay discussing Atossa Genetics and Christopher Destro's role with the Company. You may also sign up to receive automatic email News Alert updates.

Forward-Looking Statements

Except for the historical information contained herein, the matters set forth in this press release, including statements regarding Atossa's plans, expectations, projections, potential opportunities, goals and objectives are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with the efficacy of Atossa's products and services, the market demand for and acceptance of Atossa's products and services and other risks detailed from time to time in Atossa's final prospectus, dated November 7, 2012, filed with the U.S. Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and Atossa undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.


Contact:

Atossa Genetics, Inc.
Steven C. Quay, M.D., Ph.D., FCAP
Chairman, President and CEO of Atossa Genetics and
Director of the National Reference Laboratory for Breast Health
800-351-3902

Matthew D. Haines (Investors and Media)
Managing Director
MBS Value Partners
212-710-9686
Email Contact

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