PEB Advices New Director Appointment and Special Meeting

PEB Advices New Director Appointment and Special Meeting

Cancer diagnostic company, Pacific Edge Limited (NZX: PEB) advises that US-based Director, David Levison, has accepted an invitation to join the Pacific Edge Limited Board of Directors.

David’s appointment is subject to shareholder approval of an increase in Director remuneration, which will be voted on by shareholders at a Special Meeting at 11am on Friday 26th February 2016 at the Centre for Innovation in Dunedin. A copy of the Notice of Special Meeting is attached.

Pacific Edge’s major market is the US Healthcare market and the company has been actively seeking a US-based and experienced Director to assist in the rollout of the company’s ongoing growth strategy in this region.

David is an experienced and successful executive who has an indepth knowledge and experience in the US healthcare market. He has been CEO and a Director of CardioDx, a specialist molecular diagnostic company, since 2004. This is a similar company to Pacific Edge, with a targeted diagnostic product, high growth strategy and double digit revenue growth.

David has overseen capital raising of $225m+ of private equity for CardioDx and was also a Venture Partner in Texas Pacific Ventures, specialising in healthcare and molecular diagnostic companies. At TRV, he was, among other roles, Interim CEO of molecular diagnostics company XDx, and Founder of Cardiodx. Prior to this, he was Founder President and CEO of iScribe (sold to AdvancePCS) and President of Oncology Therapeutics Network (sold to Bristol-Myers Squibb). David holds an MBA from Stanford Graduate School of Business, and a Bachelor of Economics from Williams College.

Chairman of Pacific Edge, Chris Swann, said: “We are delighted to have someone of David’s experience and calibre join our Board. David is highly respected within the industry and his hands on experience in building a successful diagnostics company in the US, as well as his indepth knowledge of commercial diagnostic products in the US healthcare market, will be of great value to our company as we look to expand our presence in this region.”

The Board unanimously supports David’s appointment to the Board. If the resolution is passed at the Special Meeting, David will be appointed and will hold office until Pacific Edge’s next Annual Shareholders’ Meeting at which time he will offer himself for election by shareholders. The Board has determined that David Levison is an Independent Director, for the purposes of NZX Listing Rule 3.3.2.

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