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SQI Diagnostics Appoints Industry Veteran to its Board of Directors [Global Data Point](Global Data Point Via Acquire Media NewsEdge) SQI will also retain the services of Dr. Pronovost, as strategic advisor, where he will assist the Company in its efforts to secure strategic partnerships and/or additional capital to further advance the Company's IVD and Pharma business units. Dr. Pronovost has more than thirty years of experience in the field of innovative diagnostic testing. "The extensive experience Allan brings to SQI is well-aligned with our strategic objectives. He has led the invention, development and commercialization of numerous innovative medical diagnostic tests, and also has a track record of success in providing diagnostic development services to Pharma and biotech companies," said Andrew Morris, CEO of SQI Diagnostics. "Dr. Pronovost will be an important advisor to SQI as we commercialize our products and services in the US and work to expand our current base of Pharma customers." Dr. Pronovost is currently the President and CSO of Red Lion Chem Tech, a consortium of health related companies he founded over the past ten years, based in San Diego, California. He is also currently the Founder, Chairman and CEO of Stone Investments, LLC, an investment holding company. From 2003-2006, he was the President of the NID Division of Quest Diagnostics, the largest clinical diagnostic reference laboratory network in the world. Prior to this, from 1995-2006, he was Chairman and CEO of BioAlliances Group, LLC, a contract R%7ED and manufacturing company serving the Pharma and biotech industry, primarily in the development of novel diagnostic tests. From 1986-1995 he was the Vice President R%7ED at Quidel Corporation, San Diego and has also contributed in various roles at Ortho Clinical Diagnostics-Johnson %7E Johnson, DuPont, Eastman Kodak, Ansys Diagnostics and Trinity Biotech Holding PLC. Dr. Pronovost has advanced 123 products from concept to market with commercial sales, including 74 FDA 510(K) Approved Medical Device products. He is credited with 63 issued patents or applications, and is an author of more than 80 publications including two books. Dr. Pronovost obtained his Ph.D. in Pathology at the University of Rhode Island and completed a Post-Doctoral Fellowship in Clinical Virology %7E Immunology at the Yale University School of Medicine and is certified in Clinical Laboratory Medicine. Dr. Pronovost replaces Dr. Peter Lea who has resigned from the Board, effective immediately. Dr. Lea will continue as an active, non-voting senior advisor to the Board. Dr. Lea founded SQI Diagnostics in 1999 and invented and patented the core technology underpinning SQI's multiplexing microarray technology and is actively involved day to day in the role of Founder. Dr. Pronovost will be granted options (the "Options") to purchase an aggregate of 300,000 common shares of the Corporation (the "Shares") at a price which is the greater of $0.40 per Share or the closing price per Share on the date hereof, pursuant to the Corporation's incentive stock option plan. In addition, SQI has retained the services of Renmark Financial Communications Inc. ("Renmark") to provide the Company with investor relations services such as roadshow management, the organization of investor events and the distribution of corporate information. Renmark does not have any interest, directly or indirectly, in SQI Diagnostics or its securities, or any right or intent to acquire such an interest. The Company will pay to Renmark a monthly retainer of $5,000. The term of the agreement with Renmark is on a month-to-month basis, and the agreement can be terminated by either party by giving 30 days' written notice to the other party. (c) 2014 GlobalData Provided by SyndiGate Media Inc. (Syndigate.info). |