Quotient Limited Announces Appointment of New Chief Scientific & Medical Officer
JERSEY, Channel Islands, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today announced the appointment of Dr. Christine Ginocchio as Chief Scientific & Medical Officer (CSMO).
"We are delighted to welcome Dr. Ginocchio in this important new role as we prepare for the launch of our MosaiQ solution. Christine's 40 years' experience in clinical diagnostics, laboratory management, and medical education, brings significant added value to Quotient. Dr. Ginocchio will be instrumental in setting the strategic direction for all scientific and medical activities and will support us in leveraging our extensive experience in diagnostics. Christine's depth of experience will be especially valuable in increasing our collaboration with the scientific community to improve clinical outcomes for patients," said Manuel O. Méndez, Chief Executive Officer of Quotient.
Dr. Ginocchio joins the Company from bioMérieux/BioFire where she held the role of Senior Vice President, Global Medical Affairs. In this capacity she directed the BioFire post-market study program, BioFire medical education and training, and provided key medical insight for new product development. Prior to joining bioMérieux/BioFire, Dr Ginocchio directed over 150 laboratory professionals in a core facility that provided state-of-the-art diagnostic testing and research opportunities for 11 hospitals, including 3 Academic Centers. She was responsible for all areas of Infectious Disease diagnostics, including Microbiology, Virology, Molecular Diagnostics, Immunology/Serology, Hepatitis and HIV testing services. With over 115 peer reviewed publications, Dr. Ginocchio has been a speaker at more than 250 national and international conferences and is considered an international expert in molecular diagnostics and clinical virology. She attained the rank of Professor of Medicine, Zucker School of Medicine at Hofstra/Northwell Health, NY. Dr Ginocchio remains active in numerous professional societies, and she is a voting member of the President's Advisory Council for Combating Antibiotic Resistant Bacteria (PACCARB).
"I am excited to be part of the executive team. I look forward to initiating and executing key company strategies to demonstrate the high medical value and laboratory efficiencies of the innovative MosaiQ platform," says Dr Ginocchio, Chief Scientific & Medical Officer of Quotient.
In connection with her appointment, the Company granted Dr Ginocchio 241,544 performance-based restricted share units (PSUs) (the Sign-On PSUs), 144,926 Restricted Stock Units (RSUs) (the Sign-On RSUs) and share options to purchase 147,134 of the Company's ordinary shares (the Sign-On Options). Such grants were issued outside of the Company's 2014 Stock Incentive Plan and were approved by the Company's Board of Directors and the Remuneration Committee of the Board of Directors pursuant to the inducement grant exception under the Nasdaq Rule 563(c)(4), as an inducement that is material to Dr Ginocchio joining the Company as the Chief Medical & Scientific Officer.
The Sign-On PSUs will vest on the third anniversary of the grant date, provided specific performance criteria have been met. These performance criteria include the Company achieving certain financial targets. The Sign-On RSUs will vest 50% on the first anniversary of the grant date and the balance will vest pro rata on each of the second and third anniversaries of the grant date. The Sign-On Options will vest in three equal installments on each of the first, second and third anniversaries of the grant date. The vesting of the awards will be subject to Dr Ginocchio's continued service as the Chief Scientific and Medical Officer of the Company on each applicable vesting date.
About Quotient Limited
Building on over 30 years of experience in transfusion diagnostics, Quotient is a commercial-stage diagnostics company committed to delivering solutions that reshape the way diagnostics is practiced. MosaiQ, Quotient's proprietary multiplex microarray technology, offers the world's first fully automated, consolidated testing platform, allowing for multiple tests across different modalities. MosaiQ is designed to be a game-changing solution, which Quotient believes will increase efficiencies, improve clinical practice, deliver significant workflow improvements, and create operational cost savings to laboratories around the world. Quotient's operations are based in Eysins, Switzerland, Edinburgh, Scotland and Newtown, Pennsylvania. The Quotient logo, Quotient MosaiQ and MosaiQ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.
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