QuantuMDx Group Limited announces a business update and the appointments of Jonathan O’Halloran as Chief Executive Officer and Neil Butler as Chairman of the Board, as the company begins its transition to commercialisation..
NEWCASTLE UPON TYNE, UK, 27 January 2020. QuantuMDx Group Limited, a UK-based life sciences company developing transformational point of care molecular diagnostics, today announces a business update and the appointments of Jonathan O’Halloran as Chief Executive Officer and Neil Butler as Chairman of the Board, as the company begins its transition to commercialisation.
Jonathan O’Halloran, a co-founder of QuantuMDx, is the Company’s former Chief Scientific Officer and inventor of many of its proprietary technologies. Jonathan has a background in genetics and genomics and has been focusing on tuberculosis and antimicrobial resistance for the past 12 years. He is a dedicated ambassador for the diagnostics industry and is passionate about tackling global health issues such as the lack of healthcare infrastructure in developing nations and appropriate stewardship of anti-infectives.
Neil Butler was appointed to the Board as non-Executive Director in July 2019. He is a seasoned IVD specialist with over 20 years’ experience working in, and managing, global medical diagnostic companies involved in the development of point-of-care IVD medical devices. Neil currently serves on the Board of Nidor Dx, Radisens and Spectromics and previously served as Chair and Non-Executive Director for Atlas Genetics / Binx Health and Genomic Vision.
Following 12 years as CEO, Co-founder Elaine Warburton OBE will move into the role of Non-Executive Director and continue to actively support QuantuMDx in an ambassadorial role including with key strategic projects. In addition, Professor Sir John Burn will step back as Chairman, a role he’s undertaken since the Company’s inception in 2008 and become Vice-Chairman of the Board of Directors.
Business update
QuantuMDx has recently closed a $14m funding round supported by existing shareholders in a mix of debt and ordinary equity. These funds will be used to support the Company as it progresses towards the full commercial launch of its Q-POCTM high risk HPV genotyping assay in early 2021. The Company has also formally started the CE mark approval process of commissioned Q-POC devices and expects to certify these in the first half of 2020.
Jonathan O’Halloran, Co-founder and Chief Executive Officer of QuantuMDx said: “QuantuMDx’s Q-POCTM is the first true battery operated, point of care molecular diagnostics device, capable of performing both simple molecular tests and large syndromic and resistance mutation panels rapidly and at a price point appropriate for decentralised testing. The simple to use device has been developed to be robust for in-field testing and designed to manage dust, different ambient temperatures, humidity and intermittent electricity. The next stage of our strategy will focus on bringing our transformative diagnostic technologies to market so that diseases can be detected and treated earlier and more precisely, controlling the spread of infectious diseases. With CE Marking for our device expected soon we are excited about the future.”
Neil Butler, Chairman of QuantuMDx said: “On behalf of the Board, I would like to thank both Elaine and Sir John for their invaluable contributions to the Company. Elaine has successfully raised over $80 million equity and non-equity diluting investment whilst at the helm and has worked actively with Jonathan in securing some of the great partnerships we currently have. I am delighted both Elaine and Sir John will be remaining on the Board to continue to offer strategic counsel and guidance to the Company and I am looking forward to continuing to work with them in their new capacities as we continue to mature towards becoming a global commercial company.”
Elaine Warburton, OBE, Non-Executive Director of QuantuMDx commented: “I have immensely enjoyed leading the team at QuantuMDx for the past 12 years taking the technology from ideation to product. As the Company transitions into a new stage of development and maturity, I feel it is the right time for me to pass on the baton. I have worked with Jono since we co-founded the Company back in 2008 and, with his passion, industry knowledge and leadership skills, alongside Neil, who has extensive experience within medical diagnostic companies, I am confident we have the ideal team in place to take the Company forward, become a commercial operation and deliver on our exciting future strategy.”
About QuantuMDx
QuantuMDx Group is an ambitious company with a global vision of empowering the world to control and eradicate disease by making transformative, quality point-of-care molecular diagnostic technologies universally accessible. QuantuMDx has operations and strategic partnerships in the United States, Asia, Australasia, Europe and Africa – keeping it at the forefront of molecular diagnostics. For more information go to: www.quantumdx.com
For media enquiries:
Debra Daglish, Marketing Communications Manager, QuantuMDx Group, 0870 803 1234
Chris Gardner, Matthew Neal and Lindsey Neville, Consilium Strategic Communications, 0203 709 5700
