Exagen Inc. Announces Changes to the Board of Directors
26 Aprile 2024 - 2:30PM
Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing
solutions, today announced changes to the Board of Directors.
Exagen is pleased to announce Scott Kahn, Ph.D. is
joining the Board as a Class I Director. Dr. Kahn has a
distinguished career in life sciences spending over 30 years in
global leadership positions. Prior to starting his career in the
life science industry, he was an assistant professor of organic
chemistry at the University of Illinois. He spent over 10 years at
the scientific software company, Accelrys, where he held several
positions with increasing responsibility including SVP, General
Manager and Chief Science Officer. He then joined Illumina as its
first Chief Information Officer and spent 12 years with the
sequencing leader. He was most recently with LunaPBC as the Chief
Information and Privacy Officer. Dr. Kahn currently
holds Board positions at Blue Circle Health, Rady Children’s
Institute for Genomic Medicine and Rady Children's Hospital.
Dr. Kahn received a B.S. in Chemistry from Rider College, a
Ph.D. in Theoretical Organic Chemistry from the University of
California, Irvine and was a Fellow Commoner at Churchill College
and Postdoctoral Fellow at the University of Cambridge,
England.
"I am thrilled to join Exagen’s Board of Directors. The
management team and the board have made extensive changes over the
past year and a half to position the company for a prosperous
future. As the company continues its transition, I am eager to
contribute to this next phase of growth and innovation," said Dr.
Kahn.
Additionally, in an ever-continuing effort to streamline
operations at the company, Exagen announced that it is reducing the
size of the Board of Directors from nine to seven, a change that
has been carefully planned and complements our long-term strategy.
Brian Birk, Ebetuel Pallares, Ph.D. and Wendy Johnson have all
agreed to step down from the Board of Directors, effective on the
date of the annual shareholder meeting on June 10th, 2024.
“First, I want to thank Brian Birk, Beto Pallares, Ph.D. and
Wendy Johnson for their years of commitment and service to the
Exagen Board of Directors. They have been instrumental in providing
guidance and strategy to the company throughout its growth. Since I
joined the company in late 2022, they have been integral in making
the necessary changes to focus on achieving profitability and have
been extremely supportive throughout my transition,” said John
Aballi, President and Chief Executive Officer of Exagen. “As
the company evolves, so do the requirements of our Board. To ensure
we are well-equipped to grow with these changes, we have appointed
Dr. Kahn to our Board of Directors. This is a very exciting time
for Exagen as the company enhances its product capabilities, and
Dr. Kahn’s expertise will play an important role in this
process.”
About Exagen:Exagen is a leading provider
of autoimmune testing and its purpose as an organization is to
provide clarity in autoimmune disease decision making with the goal
of improving patients’ clinical outcomes. Exagen is
located in San Diego County, California.
For more information, please visit Exagen.com or follow
@ExagenInc on X (formerly known as Twitter).
Forward Looking StatementsExagen cautions
you that statements contained in this press release regarding
matters that are not historical facts are forward-looking
statements. These statements are based on Exagen’s current beliefs
and expectations. Such forward-looking statements include, but are
not limited to, statements regarding: Exagen’s goals, strategies
and ambitions; potential future financial and business performance;
the potential utility and effectiveness of Exagen’s services and
testing solutions; the expected benefits of Dr. Kahn’s position
with Exagen; potential shareholder value and growth and 2024
guidance. The inclusion of forward-looking statements should not be
regarded as a representation by Exagen that any of its
plans will be achieved. Actual results may differ from those set
forth in this press release due to the risks and uncertainties
inherent in Exagen’s business, including, without limitation:
delays in reimbursement and coverage decisions from Medicare and
third-party payors and in interactions with regulatory authorities,
and delays in ongoing and planned clinical trials involving its
tests; Exagen’s commercial success depends upon attaining and
maintaining significant market acceptance of its testing products
among rheumatologists, patients, third-party payors and others in
the medical community; Exagen’s ability to successfully execute on
its business strategies; third-party payors not providing coverage
and adequate reimbursement for Exagen’s testing products, including
Exagen’s ability to collect on funds due; Exagen’s ability to
obtain and maintain intellectual property protection for its
testing products; regulatory developments affecting Exagen’s
business; and other risks described in Exagen’s prior press
releases and Exagen’s filings with the Securities and Exchange
Commission (“SEC”), including under the heading “Risk Factors”
in Exagen’s Annual Report on Form 10-K for the year
ended December 31, 2023, filed with
the SEC on March 18, 2024 and any subsequent
filings with the SEC. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof, and Exagen undertakes no obligation
to update such statements to reflect events that occur or
circumstances that exist after the date hereof. All forward-looking
statements are qualified in their entirety by this cautionary
statement, which is made under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995.
Contact:Ryan DouglasExagen
Inc.ir@exagen.com760.560.1525
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