XCR Diagnostics Board Appoints Mark Powelson CEO

PARK CITY, Utah--(BUSINESS WIRE)--Mark Powelson, currently XCR Diagnostics’ Chief Operating Officer, has been appointed CEO and President by the Company’s Board of Directors. Mr. Powelson joined the Company shortly after its founding, was responsible for building the foundation of the Company and has more than 30 years of industry experience. Prior to joining XCR Diagnostics, Powelson gained industry experience as Vice President of Sales and Marketing for HandyLab, where he brought commercial operations online prior to HandyLab’s acquisition by BD. Along with HandyLab, Mr. Powelson has served as Vice President of Worldwide Sales for Gen-Probe, now a part of Holgic, Boehringer Mannheim and other notable industry leaders.

“XCR Diagnostic’s disruptive PNATS and XCR chemistry impacts the way molecular diagnostics is accomplished today, from faster near patient testing to more accurate results at the central laboratory.”

“We have built a strong foundation in the first year of operations and I look forward to completing the vision we created nearly a year ago: to bring XCR™ chemistry and our Portable Nucleic Acid Testing System (PNATS) to a prominent position in the molecular diagnostics market,” states Mr. Powelson. “XCR Diagnostic’s disruptive PNATS and XCR chemistry impacts the way molecular diagnostics is accomplished today, from faster near patient testing to more accurate results at the central laboratory.”

William Olson has served as interim Chairman of the Board, President and Chief Executive Officer (CEO) for XCR Diagnostics. Mr. Olson remains on the Board as a Director.

Mark Bagnall, currently an XCR Diagnostics Director, will now lead the Board of Directors as Chairman for XCR Diagnostics.

About XCR Diagnostics, Inc.

XCR Diagnostics Inc., a Fluoresentric, Inc. company, is a start-up instrument and chemistry provider advancing near patient portable molecular instrumentation, sample preparation and detection chemistry in regulated human diagnostic markets, domestically and internationally. The Company is positioned to deliver the first sub 15-minute diagnostic test system to the market in 2016. The combination of small portable platforms and revolutionary molecular reagents enables XCR Diagnostics to dramatically trim test times and reduce healthcare costs, with a vision to deliver hyper-accurate molecular diagnostics testing near patient and central laboratory.

About Fluoresentric, Inc.

Fluoresentric, Inc., an Intellectual Property company, is positioned to monetize its XCR technology portfolio globally. With strong intellectual property initially in molecular amplification, the Company has expanded its intellectual property collection into instrumentation, sample prep and other application chemistries. Fluoresentric’s vision to apply the Company’s intellectual property to an extensive set of commercial opportunities resulting in better and faster results processing for healthcare and other industries worldwide.