Precipio (PRPO) announces Richard Sandberg is appointed Chairman

Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) announces the appointment of Mr. Richard Sandberg as Chairman of the Board of Directors. Dr. Douglas Fisher will step down as Chairman and maintain his role as a Director on the company’s board.

Mr. Sandberg has been involved with Precipio since its inception and has acted in various advisory roles. in 2019 he joined the company’s Board of Directors and has been a significant contributor to helping the company formulate strategy and execute on its plans.

Mr Sandberg is a seasoned diagnostics executive with a substantial track record in the field of diagnostics. As the founder, chairman, CEO and CFO of Dianon Systems, Inc., a diagnostics company that was acquired in 2002 by LabCorp for $650M, Mr. Sandberg has direct experience relevant to Precipio’s business, the industry, and the challenges a growth company faces. Mr. Sandberg also serves as a director of Poplar Healthcare, LLC, a privately owned anatomical pathology laboratory with which the Company entered into a joint venture in 2020.

From 2008 to 2019, Mr. Sandberg also served as Chairman of the Board of Oxford Immunotec, which is being acquired by Perkin Elmer for over $550M, Mr. Sandberg also serves as Chief Executive Officer of Resolys Bio, Inc, a pharmaceutical company which is developing a treatment for long-term, chronic traumatic brain injury.

“Precipio is capitalizing on a unique opportunity to develop better diagnostic technology in support of its university-based pathology partnerships and to bring that technology to physician offices in the US and abroad. I am pleased and fortunate to have the chance to contribute to a company with so many opportunities to grow,” said Mr. Sandberg.

“I have been fortunate to have Dick Sandberg in my corner throughout the years as the company navigated the challenges of developing its business model and executing on its vision, and his counsel has been invaluable to myself and my team”, said Ilan Danieli, CEO of Precipio, Inc. “I am honored to have Dick assume the role as chairman of the board and continue to be a driving force within the company’s leadership.”

Dr. Douglas Fisher joined the company’s board in 2017 and assumed the role of Chairman in December 2019. During those years and under Doug’s leadership, the company completed the transition following its merger with Transgenomic; erased past liabilities and has developed a business model that combines diagnostic services and products that have already begun to significantly impact the company’s value. Doug will continue to play a significant role as a director and will remain a contributing member of the board.

“I’m so pleased that Dick has agreed to be Chairman. It has been a pleasure to work with him as an independent director. His experience in the field uniquely qualifies him for this role, and I’m glad he is ready to step into it,” said Doug Fisher.

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