Veracyte Chairman and CEO Bonnie Anderson Receives Prestigious Innovation Award at Biomedical Engineering Society Annual Meeting

Business Wire 13-Oct-2017 10:02 AM

- The Coulter Foundations Wallace H. Coulter Award for Healthcare Innovation Recognizes Excellence and Leadership in Clinical Diagnostic Medicine -

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Veracyte, Inc. (NASDAQ: VCYT) announced today that the companys Chairman and CEO Bonnie Anderson is the recipient of the 2017 Wallace H. Coulter Award for Healthcare Innovation. Dr. Lori Setton, president of the Biomedical Engineering Society BMES, will present the award to Ms. Anderson today at the 2017 BMES Annual Meeting in Phoenix, AZ. Ms. Anderson will deliver a keynote lecture during a plenary session at the meeting.

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Bonnie Anderson, Chairman and CEO, Veracyte, Inc. (Photo: Business Wire)

The Coulter Award for Healthcare Innovation recognizes excellence and leadership in clinical diagnostic medicine, and honors the lifelong achievements of Mr. Coulter, co-founder of the company that later became Beckman Coulter. A committee comprising representatives from the Coulter Foundation and BMES determine nominations and select an annual winner. Ms. Anderson follows Medtronic Chairman and CEO Omar Ishrak, who received the award in 2016.

This award was created to recognize innovation in medical research and engineering that improves healthcare, said Kevin Otto, co-chair of the BMES Annual Meeting. Bonnie Anderson and Veracyte embody this innovative spirit, as well as the leadership and expertise that are necessary to translate innovative ideas into real-world tools that have a meaningful impact on patient outcomes.

Ms. Anderson founded Veracyte in 2008 and took the company public in 2013. With a business plan and $21 million dollars in venture capital funding, Ms. Anderson and her world class team created a pioneering genomic diagnostics company that is setting new standards in disease diagnosis. In less than 10 years, Veracyte has introduced three first-to-market commercial products that have helped tens of thousands of patients avoid unnecessary surgery and are providing hundreds of millions of dollars in savings to the health care system.

I am so honored to receive this award, because it recognizes exactly what we have worked so hard to do at Veracyte - develop innovative diagnostic products that have a real impact on patients, Ms. Anderson said. I am also incredibly humbled because my 18-year career at Beckman Coulter, where I was offered amazing opportunities to learn and lead, is much of the reason Im here today. The company and Mr. Coulter ignited an entrepreneurial passion, which ultimately inspired us to create Veracyte.

Ms. Andersons corporate and industry leadership have been recognized consistently over the past several years. Fast Company named her to its list of 100 Most Creative People in Business 2015 and the San Francisco Business Times has selected her as one of the Bay Areas Most Admired CEOs.

AboutVeracyte

Veracyte (NASDAQ: VCYT) is a leading genomic diagnostics company that is providing trustworthy and actionable answers that fundamentally improve patient care when current diagnostic tests are uncertain. The companys products uniquely combine genomic technology, clinical science and machine learning to provide answers that give physicians and patients a clear path forward without risky, costly surgery that is often unnecessary. Since its founding in 2008, Veracyte has commercialized three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis and collectively target a $2 billion market opportunity. Veracyte is based in South San Francisco, California. For more information, please visit www.veracyte.com and follow the company on Twitter (@veracyte).

Veracyte, Afirma, Percepta, Envisia, the Veracyte logo, and the Afirma logo are trademarks of Veracyte, Inc.

About the Wallace H. Coulter Foundation

Wallace H. Coulter, the benefactor of the CoulterFoundation, invented the Coulter Principal, an electronic method of counting and classifying microscopic particles suspended in fluid. Coulter utilized this principal to create an apparatus known as the Coulter Counter that revolutionized the practice of clinical laboratory medicine by counting and classifying blood cells, a process that was previously done manually. Throughout his lifetime, Coulter was a champion of practical translational research directed to improving the scope and quality of clinical diagnostic medicine. As a continuation of Mr. Coulters life-long work, the Coulter Foundation supports the discipline of biomedical engineering at universities and medical schools. The Foundation provides risk capital, expertise, and guidance to help innovative initiatives realize their potential, and is guided by the principle to address the needs of the under-served, under-resourced, and/or under-represented.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "expect," "believe," "should," "may," "will" and similar references to future periods. Examples of forward-looking statements include, among others, our belief that we are setting new standards in disease diagnosis and the potential benefits of the companys tests. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: demand for our tests, the applicability of clinical results to actual outcomes; laws and regulations applicable to our business, including potential regulation by theFood and Drug Administrationor other regulatory bodies;our ability to successfully achieve and maintain adoption of and reimbursement for our products; the amount by which use of our products are able to reduce invasive procedures and misdiagnosis, and reduce healthcare costs; the occurrence and outcomes of clinical studies; the timing and publication of clinical study results; and other risks set forth in the company's filings with theSecurities and Exchange Commission, including the risks set forth in the company's Quarterly Report on Form 10-Q for the quarter endedJune 30, 2017. These forward-looking statements speak only as of the date hereof andVeracytespecifically disclaims any obligation to update these forward-looking statements.

Veracyte, Percepta, and the Veracyte logo are trademarks of Veracyte, Inc.

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Veracyte, Inc. Media: Tracy Morris, 650-380-4413Tracy.Morris@Veracyte.comorInvestors:Jackie Cossmon, 650-243-6371jackie@veracyte.com

Source: Veracyte, Inc.