Death of J. Thomas August, MD, a Member of the Board of Directors of BIOQUAL, Inc.

ROCKVILLE, Md.--(BUSINESS WIRE)-- On February 11, 2019, J. Thomas August, MD, a director of BIOQUAL, Inc., since 1982, passed away at the age of 91. Dr. August was a founder of the Company and a holder 19.8% of the Company’s outstanding Common Stock as of February 15, 2019. Additionally, over Dr. August’s association with the Company, he served as the Chief Scientist from 1981 to 1987 and as Scientific Advisor from 1987 to 2010. As a director, Dr. August held positions periodically on the Executive, Audit and Compensation Committees. There are no immediate plans to fill the vacancy on the Board of Directors created by Dr. August’s death, as a result of which the Board will now have six members.

For more detail related to Dr. August, please visit our web site at www.bioqual.com.

Statements herein that are not descriptions of historical facts are forward-looking and subject to risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors including risks relating to the ability to continue to extend current government contracts and obtain new contracts; the Company’s ability to obtain new government or commercial contracts; continued demand for the use of animal models in scientific research; the Company’s ability to perform under its contracts in accordance with the requirements of the contracts; the actual costs incurred in performing the Company’s contracts and its ability to manage its costs, including its capital expenditures; dependence on third parties; future capital needs; the ability to fund its capital needs through the use of its cash on hand and line of credit; and the future availability and cost of financing/capital sources to the Company.

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