Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (the “Company”), an
innovative life sciences technology company providing mission
critical automation solutions to facilitate the efficient
manufacturing and fast, safe release of healthcare products, is
pleased to announce the appointment of Kirk Malloy, Ph.D. as Chair
of the Company’s Board of Directors (the “Board”). Dr. Malloy will
also Chair the Board’s Compensation Committee. Jeffrey Schwartz,
who previously served as Board Chair, remains a member of the Board
and continues to serve as Chair of the Nominating and Corporate
Governance Committee.
“We are very excited to welcome Kirk to our
Board of Directors,” said Robert Spignesi, President and Chief
Executive Officer. “Kirk is an experienced executive and board
director with a proven track record of leadership in the life
sciences industry. His insights and guidance in commercial
expansion at high-growth companies will be invaluable as we
continue to grow globally.”
Dr. Malloy has more than 25 years of senior
management experience in life sciences and in vitro diagnostics
with Illumina, Inc., Biosite, Inc. and Qiagen, Inc., and most
recently served as Chief Executive Officer of Verogen, Inc., until
its acquisition in 2023. Throughout his career, Dr. Malloy has led
market development and product development initiatives that have
driven revenue growth for early-stage, commercial companies. Dr.
Malloy is currently the founder and principal of BioAdvisors, LLC,
where he provides strategic consulting services to life sciences,
diagnostics and genomics companies. Currently, Dr. Malloy serves on
the boards of NanoString Technologies, Inc. and DermTech, Inc. as
well as several private genomics tools companies. Dr. Malloy earned
a B.S. in Biology & Marine Science from the University of
Miami, and an M.S. and Ph.D. in Marine Biology/Biochemistry from
the University of Delaware. He has held post-doctoral and
instructor positions at Boston University and Northeastern
University.
Mr. Schwartz added, “Kirk is an exceptional
leader and my fellow Board members and I are excited to welcome him
as our new Board Chair. I look forward to working with Kirk and am
confident that, with his deep experience in the life sciences
industry, especially with high growth companies, the Company will
further capitalize on our significant growth opportunities.”
“I am honored to join the Board at Rapid Micro
Biosystems, and I am excited for the opportunity to work with a
company helping to modernize pharmaceutical manufacturing,” said
Dr. Malloy. “I look forward to working with my fellow Board members
and the management team to enhance value for all our stakeholders
and enable our customers to deliver safer drugs to patients.”
The addition of Dr. Malloy brings the total
number of directors on the Company’s Board to eight.
About Rapid Micro
Biosystems
Rapid Micro Biosystems is an innovative life
sciences technology company providing mission critical automation
solutions to facilitate the efficient manufacturing and fast, safe
release of healthcare products such as biologics, vaccines, cell
and gene therapies, and sterile injectables. The Company’s flagship
Growth Direct system automates and modernizes the antiquated,
manual microbial quality control (“MQC”) testing workflows used in
the largest and most complex pharmaceutical manufacturing
operations across the globe. The Growth Direct system brings the
quality control lab to the manufacturing floor, unlocking the power
of MQC automation to deliver the faster results, greater accuracy,
increased operational efficiency, better compliance with data
integrity regulations, and quicker decision making that customers
rely on to ensure safe and consistent supply of important
healthcare products. The Company is headquartered and has U.S.
manufacturing in Lowell, Massachusetts, with global locations in
Lexington, Massachusetts, Switzerland, Germany, and the
Netherlands. For more information, please visit
www.rapidmicrobio.com or follow the Company on Twitter at
@rapidmicrobio or on LinkedIn.
Forward-Looking Statements
This press release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements contained in this press release
that do not relate to matters of historical fact should be
considered forward-looking statements, including, but not limited
to, statements regarding the Company’s expected commercial
expansion and global growth; expectations regarding the Company’s
improvements in commercial execution and enhanced sales and
marketing processes; customer interest in and adoption of the
Company's Growth Direct microbial quality control platform; and the
anticipated contribution of the members of the Board to the
Company’s operations, strategy and growth.
In some cases, you can identify forward-looking
statements by terminology such as “outlook,” “aim,” “anticipate,”
“assume,” “believe,” “contemplate,” “continue,” “could,” “due,”
“estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,”
“predict,” “potential,” “positioned,” “seek,” “should,” “target,”
“will,” “would” and other similar expressions that are predictions
of or indicate future events and future trends, or the negative of
these terms or other comparable terminology, although not all
forward-looking statements contain these words. Forward-looking
statements involve known and unknown risks, uncertainties and
assumptions which may cause actual results to differ materially
from any results expressed or implied by any forward-looking
statement, including, but not limited to, the Company’s
organizational restructuring plan, including a reduction in
workforce, that may not result in the anticipated savings, could
result in total costs and expenses that are greater than expected
and could disrupt the Company’s business; the Company’s significant
losses since inception; the Company’s ability to meet its publicly
announced guidance and other expectations about its business and
operations; the Company’s limited experience in marketing and sales
and the effectiveness of its sales processes; the Company’s need to
develop new products and adapt to technological changes; the
Company’s ability to establish and maintain its position as a
leading provider of automated microbial quality control testing;
the Company’s ability to maintain its manufacturing facility; risks
related to third-parties; the Company’s ability to retain key
management and other employees; risks related to regulatory and
intellectual property matters; risks related to supply chain
disruptions and the impact of inflation; risks related to the
exploration of strategic alternatives; the impact of macroeconomic
volatility on the Company’s business and operations, including
further delays in placements and validation of new systems; and the
other important factors outlined under the caption “Risk Factors”
in the Company’s Annual Report on Form 10-K filed with the
Securities and Exchange Commission (“SEC”) on March 10, 2023, as
such factors may be updated from time to time in its other filings
with the SEC, which are available on the SEC's website at
www.sec.gov and the Investor Relations page of its website at
investors.rapidmicrobio.com. Although the Company believes that the
expectations reflected in its forward-looking statements are
reasonable, it cannot guarantee future results. The Company has no
obligation, and does not undertake any obligation, to update or
revise any forward-looking statement made in this press release to
reflect changes since the date of this press release, except as may
be required by law.
Investor Contact:
Michael Beaulieu, CFA
Vice President, Investor Relations and Corporate Communications
investors@rapidmicrobio.com
Media
media@rapidmicrobio.com
Rapid Micro Biosystems (NASDAQ:RPID)
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Rapid Micro Biosystems (NASDAQ:RPID)
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