HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, today announced the formation of a French subsidiary, HTG Molecular Diagnostics France SARL (“HTG France”) in November 2018. This entity is expected to further facilitate HTG’s ability to generate European product revenue and to improve its responsiveness to the needs of its growing customer base in Europe. In conjunction with the subsidiary formation, HTG has also created an application incubator laboratory in Sausheim, France, which is expected to accelerate additional product applications and to provide direct customer service to European accounts.
“We are pleased to take this important step in growing our European organization by establishing a formal entity and laboratory in France,” said Jean Claude Gerard, SVP of European Commercial Operations. “HTG France is intended to allow us to more immediately and thoroughly meet the needs of our customers in the region. We also plan to strengthen and grow our biomarker and diagnostic collaborations and, by the second half of 2019, begin to provide biomarker program related services, similar to those currently provided by HTG’s VERI/O laboratory in the United States, on a smaller scale,” concluded Mr. Gerard.
John Lubniewski, HTG’s President and Chief Operating Officer added, “We are thrilled to expand our capabilities in Europe with the establishment of HTG France. It is important to us that we be able to service our customers and development partners fully, no matter their location globally. We look forward to continuing to grow and expand in this important region.”
HTG is focused on advancing the promise of precision medicine. The company’s proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples, even when limited in amount. HTG’s customers use its technology to identify biomarkers important for precision medicine, to understand the clinical relevance of these discoveries, and ultimately to identify treatment options. Our mission is to advance precision medicine.
Safe Harbor Statement:
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the benefits, expected features and functionalities of HTG France and of the HTG France applications laboratory. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management’s current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, the risks associated with our ability to successfully commercialize our products and services in France through our French subsidiary; the risk that our products and services may not be adopted by biopharmaceutical companies or other customers as anticipated, or at all; our ability to manufacture our products to meet demand; the level and availability of third party payor reimbursement for our products; our ability to effectively manage our anticipated growth; our ability to protect our intellectual property rights and proprietary technologies; our ability to operate our business without infringing the intellectual property rights and proprietary technology of third parties; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; and product liability claims. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission, including without limitation our Quarterly Report on Form 10-Q for the quarter ended September 30, 2018. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Ashley R. Robinson
LifeSci Advisors, LLC
Phone: (617) 535-7742