Exagen Announces Appointment of John Aballi as CEO

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SAN DIEGO, Oct. 17, 2022 (GLOBE NEWSWIRE) — Exagen Inc. (Nasdaq: XGN), today announced that the company has named John Aballi as CEO and President. Longtime CEO and chairman Ron Rocca, who took the company public and built a high-growth business, is stepping down after 11 years at the helm.

Exagen’s Board of Directors has appointed Mr. Aballi as CEO, Chairman and Member of the Board. Mr. Aballi is an executive with extensive experience in growth-stage companies in the field of clinical diagnostics. Most recently, he served as SVP, General Manager, Urology & CLIA COO at Veracyte, Inc.

“I am delighted that John has agreed to lead Exagen’s next phase of growth,” said Brian Birk, Chairman of the Board. “He is a leader who excels in operations, has financial and business acumen and is known for optimizing productivity and profitability. John’s experience and insight will enable him to lead Exagen to continued growth and success in the future.

Birk went on to say, “The Board of Directors would like to thank Ron Rocca for his tenure at Exagen and his many contributions to the success of the company, particularly his success in establishing the company as a leader. in the field of rheumatology diagnostics in the United States. ”

Mr. Aballi, who has 15 years of experience in the diagnostics industry, is known for transforming business and laboratory operations and has extensive experience in creating effective clinical diagnostic operations. In his previous role at Veracyte, he was responsible for a 245-member business unit and led a team that grew Urology unit revenue to over $120 million annually. He also led the implementation of CAP standards in the San Francisco and Austin labs and managed Veracyte’s CLIA lab operations. In his previous role, Mr. Aballi was COO at Decipher Biosciences where he oversaw revenue growth from $12.6 million in 2018 to $39 million in 2020. Mr. Aballi was a key part of the team at leadership that helped Decipher grow from a struggling company to being sold to Veracyte for $600 million in early 2021. He was responsible for P&L for all aspects of operations including sales, quality management , medical operations, customer service, IT, test development, billing, managed care, internal expansion and laboratory operations. Mr. Aballi was also responsible for overseeing laboratory operations at Molecular Stethoscope and Genoptix in various leadership roles.

“I am very pleased to join Exagen as CEO,” said Mr. Aballi. “The company has developed a leadership position in one of the greatest fields of medicine. Having spent the past 15 years developing and commercializing cancer diagnostics, I look forward to bringing this same successful approach to inflammatory and rheumatological diseases with the incredible team at Exagen.

Mr. Aballi was a member of the board of directors of PFS Genomics in San Diego, a molecular diagnostics company specializing in the development of proprietary signatures in breast cancer, which was acquired by Exact Sciences in 2021. He holds a an MBA from California Baptist University and a dual degree from UC San Diego in Biochemistry and Cell Biology and Economics. Mr. Aballi will immediately assume his new role at Exagen.

About Exagen Inc.

Exagen (Nasdaq: XGN) is a leading provider of autoimmune diagnostics, prognosis and monitoring solutions. Exagen is a patient-focused, discovery-driven organization, built on the success of AVISE® tests and invests in its product portfolio to support patients through their autoimmune diagnosis and treatment journey. Exagen’s goal is to help patients, physicians and payers by enabling precision medicine. Exagen is located in San Diego County with clinical and research and development laboratories in Vista, CA.

For more information, please visit Exagen.com and follow @ExagenInc on Twitter.

Forward-looking statements

Exagen cautions you that statements in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Exagen’s current beliefs and expectations. These forward-looking statements include, but are not limited to, statements regarding: Exagen’s goals and strategies; the potential usefulness and effectiveness of Exagen’s testing services and solutions currently available or under development; the expected benefits of Mr. Aballi’s employment with Exagen; and Exagen’s potential for growth and success and its ability to continue to grow and succeed. The inclusion of forward-looking statements should not be construed as a statement by Exagen that any of its plans will be realized. Actual results may differ from those presented in this press release due to risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect its business, its financial condition and results of operations, including as a result of the slowdown in its operations as well as those of its courier providers and services, impeding patient flow and healthcare service disruptions resulting in reduced volumes of testing, disruptions to the supply chain of materials required for its testing resulting in increased cost per test, its sales and marketing activities, and its ability to receive samples and perform or deliver the results of its testing, delays in reimbursement and coverage decisions from Medicare and third-party payers and in interactions with regulatory authorities, and delays in ongoing and planned clinical trials. essays involving its testing; Exagen’s commercial success is dependent on achieving and maintaining significant market acceptance of its test products and promoted therapeutics among rheumatologists, patients, third-party payers and other community stakeholders. medical; Exagen’s ability to successfully execute its business strategies; third-party payers failing to provide adequate coverage and reimbursement for Exagen’s test products or promoted therapies, including Exagen’s ability to collect funds due; Exagen’s ability to obtain and maintain intellectual property protection for its test products; regulatory changes affecting Exagen’s business; and other risks described in Exagen’s prior press releases and Exagen’s filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Exagen’s Annual Report. Exagen on Form 10-K for the fiscal year ended December 31, 2021 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update these statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

contacts:

Investor Relations
Exagen Inc.
Ryan Douglas
[email protected]
760.560.1525

Company
Exagen Inc.
Kamal Adawi, Chief Financial Officer
[email protected]

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