Biocartis appoints Roger Moody as new CEO
Biocartis Group NV (the ‘Company’ or ‘Biocartis’), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announces changes to its executive management. Roger Moody has been appointed to the position of Chief Executive Officer effective 24 April 2023. Herman Verrelst, who has been the Company’s Chief Executive Officer since August 2017 will move into the new position of Executive Chairman of the Board of Directors but will no longer be part of the executive management. Mr. Moody will also become a member of the Board of Directors, subject to the approval by the Company’s general shareholders’ meeting. Christian Reinaudo, who has served as Chairman of the Board since May 2018 will assume the role of Lead Independent Director, to act as principal liaison between the non-executive members of the Board and the executive leadership team.
Roger Moody has more than 30 years of experience in the technology and healthcare industry and brings a unique combination of deep knowledge of molecular diagnostics in the US and a proven track record of scaling up public companies. Roger has held various senior executive positions leading strategic business development, scaling manufacturing and commercial operations and securing funding in both private and public offerings. Prior to joining Biocartis, he served as CEO of GlySure Limited, whose primary assets were sold to Baxter International (NYSE: BAX), and held the CFO position at Nanosphere, now part of DiaSorin (Euronext Milan: DIA), Clinical Genomics, Inc., a colorectal cancer diagnostics company and most recently Talis Biomedical (Nasdaq: TLIS), a point-of-care molecular diagnostics company.
The appointment is motivated by a stronger orientation of the Company toward the US market, after having already appointed Bryan Dechairo to the Board of Directors on 21 February 2023. Subject to the approval by the general shareholders’ meeting of Mr. Moody’s appointment as director, 3 out of 7 directors will be US citizens with a wealth of experience in the US diagnostic industry. An enhanced focus on the US is pivotal to Biocartis’ continued growth and Roger Moody’s appointment will add to commercial success in the US, the further build-out of the partner network and access to the US investor base.
Herman Verrelst will ensure operational continuity during a transition period and further support the new CEO in investor relations, financing matters and strategic partnering. Christian Reinaudo will remain the Chairman of the Remuneration and Nomination Committee, and will act as Lead Independent Director, ensuring the independence of the Board of Directors from the Company's executive leadership team.
Herman Verrelst commented: “We are pleased to welcome Roger to Biocartis. Roger brings a wealth of experience in building value in rapidly growing molecular diagnostics companies, and I look forward to partnering with him to continue expanding our fast-growing core oncology business. Together we will focus on the key drivers of continued growth by continuing to expand our menu in oncology with novel tests and by making our decentralized diagnostic solutions available to a growing customer base around the world.”
“Biocartis’ record of growth has been impressive, and its fundamentals are very strong,” said Roger Moody. “Biocartis’ unique ability to address the unmet need for automation, ease-of-use and fast turn-around times in molecular oncology testing is well-recognized. I look forward to work with Herman and the executive leadership team to continue to expand our molecular diagnostic product offering and to strengthen our foothold in key markets such as the US.”
Christian Reinaudo, the former Chairman of the Board of Directors, added: “The Board of Directors is convinced that the new executive leadership will bring continuity to the further accomplishment of Biocartis’ mission while adding additional experience that we believe is essential to ensure the further growth of the Company towards profitability.”