- Albert Weber will join OpGen as CFO of OpGen effective January 1, 2022 from US-German molecular diagnostics company Epigenomics
- Announces incentive grant of 210,000 stock options under NASDAQ listing rule 5635 (c) (4)
ROCKVILLE, MD, November 04, 2021 (GLOBE NEWSWIRE) – OpGen, Inc. (Nasdaq: OPGN, “OpGen” or the “Company”), a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help fight infectious diseases, today announced the appointment of Albert Weber as the new Chief Financial Officer of OpGen and Managing Director of the OpGen Curetis GmbH subsidiary effective January 1, 2022.
Mr. Weber is a corporate finance executive who brings over 30 years of professional experience in accounting, controlling and corporate finance roles. Over the past 21 years, he has held several positions for Epigenomics AG, a Frankfurt Stock Exchange listed molecular diagnostics company, with operations in the United States and Germany. Since 2018, Mr. Weber has served as Managing Director and Member of the Board of Directors (Vorstand) and Executive Vice President of Finance. Previously, he held positions of increasing responsibility, including that of Vice-President and Senior Vice-President of Finance, Accounting and Management Control.
Prior to joining Epigenomics in 2000, Mr. Weber served as a corporate controller at Pironet AG, an IT company he helped take public in 2000. Following the initial public offering of Epigenomics in 2004 on the Frankfurt Stock Exchange (ECX), Mr. Weber was instrumental in numerous equity and debt financing transactions for the company, including the listing of U.S. certificates of deposit in the United States. United. At Epigenomics, he oversaw the operational and financial aspects of commercial launches of molecular diagnostics products through direct sales teams in the United States and Europe as well as through partners in China and was instrumental in several transactions of strategic business, including a takeover bid by Chinese investors for all of Epigenomics in 2017, valued at around $ 186 million at the time and the proposed transaction was fully supported by the board of directors of the society.
Asked why he joined OpGen, Mr. Weber commented, “This is a really exciting time in the development and business evolution of OpGen. With recent FDA clearance for the unique Acuitas AMR Gene Panel, Unyvero products already approved by the FDA, and other pending products expected to gain approvals in the United States as well as China and others. parts of the world, this is the perfect time for me to bring my experience to the team. I am excited to be working with the OpGen board and executive leadership to shape the next phase of our growth story. “
Bill Rhodes, President of OpGen, said: “We warmly welcome Albert to the OpGen leadership team and believe he brings to OpGen a unique blend of experience and expertise as a transatlantic CFO of US markets. and Germans. Although we are headquartered here in Maryland, two-thirds of our global operations are in Germany and Austria. The ability to work on OpGen’s international operations and operating platforms, and experience working with a US-based CEO was a key factor in our decision to bring Albert to OpGen as next CFO.
Oliver Schacht, CEO of OpGen, added: “The entire OpGen leadership team is thrilled that Albert is joining our team as there are few people in the molecular diagnostics industry who bring such a mix. unique corporate finance and practical experience of operations in the United States. and in Europe. I know that he will strengthen our team with complementary skills and unique expertise in closing and executing transactions. In particular, his deep experience in entering into and completing strategic agreements in China and the potential opportunities for strategic mergers and acquisitions over the past few years could turn into a major asset for OpGen going forward. .
Mr Weber will initially be based in Germany and will work primarily in the office of Curetis GmbH in Holzgerlingen near Stuttgart, but expects to spend significant time at the US headquarters in 2022 and beyond as he will oversee and manage global finances. teams in their entirety. Mr. Weber holds a Masters in Business Administration (Kaufmann Diploma) from the University of Cologne.
NASDAQ Listing Rule 5635 (c) (4) Incentive Grant
In connection with Mr. Weber’s appointment, OpGen granted Mr. Weber an incentive grant of stock options to purchase a total of 210,000 OpGen common shares with a grant date of 3 January 2022. The share grant was granted in accordance with the incentive grant exception to rule 5635 (c) (4) of the Nasdaq Listing Rule as a component of compensation for the employment of Mr. Weber and was granted as a material incentive to his acceptance of employment with OpGen. The options will have an exercise price equal to the closing price of the OpGen common stock as published on the Nasdaq on January 3, 2022, the first trading day after Mr. Weber’s start date. The option grant will vest over a four-year period, with 25% vesting on the first anniversary of the grant date and in equal quarterly installments on each quarterly anniversary thereafter. The award is subject to Mr. Weber’s continued service with OpGen until the applicable vesting dates.
About OpGen, Inc.
OpGen, Inc. (Rockville, MD, USA) is a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to fight infectious diseases. Together with our subsidiaries, Curetis GmbH and Ares Genetics GmbH, we develop and market molecular microbiology solutions that help guide clinicians with faster, actionable information on life-threatening infections to improve patient outcomes and reduce the spread. infections caused by multidrug-resistant bacteria. microorganisms or MDRO. OpGen’s product portfolio includes Unyvero, Acuitas AMR Gene Panel and Acuitas® Lighthouse, as well as the ARES technology platform including ARESdb, using NGS technology and AI-powered bioinformatics solutions for prediction of response to antibiotics.
For more information, please visit www.opgen.com.
This press release includes statements regarding the appointment of the Company’s Chief Financial Officer. These statements and other statements regarding OpGen’s future plans and objectives constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended for benefit from the safe harbor of responsibility established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties which are often difficult to predict, are beyond our control, and which may lead to materially different results expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, our ability to successfully, timely and cost-effectively develop, seek and obtain regulatory clearance to and market our offerings of products and services, the rate of adoption of our products and services by hospitals and other health care providers, the fact that we may not use the proceeds of our financings effectively, the realization of the expected benefits of our transaction of business combination with Curetis GmbH, the success of our marketing efforts, the impact of COVID -19 on the operations, financial results and marketing efforts of the Company as well as on capital markets and general economic conditions , the effect on our business of existing and new regulatory requirements, and other economic and competing factors. tials. For a discussion of the most important risks and uncertainties associated with OpGen’s business, please see our filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
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