Avid Bioservices Announces Appointment of Daniel Hart as Chief Financial Officer

-- Senior Executive with Extensive Financial Leadership Experience Further Strengthens Management Team; Company Also Adds Senior Director of Business Development for Western Region to Support Client Acquisition Efforts --

TUSTIN, Calif., July 17, 2018 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the appointment of Daniel Hart as chief financial officer (CFO).  Mr. Hart is a highly accomplished financial professional with two decades of experience in senior level positions with public and private companies spanning such areas as financial stewardship, accounting, and fundraising strategy, among others.  In his role as CFO, he will be responsible for overseeing and managing all of Avid’s accounting and finance responsibilities.

Mr. Hart most recently served as CFO of ENO Holdings, Inc., a family of companies focused on the residential real estate market with offerings spanning brokerage, franchisor, property management, title and escrow services.  While with ENO Holdings, he helped optimize the group’s accounting and finance department with a focus on establishing repeatable processes in the areas of financial statements, operating plans, cash forecasts and organization budgets.  Prior to that position, Mr. Hart served as senior vice president, CFO and assistant secretary at SM&A, a $100 million private equity owned management consulting firm that was previously a Nasdaq-listed company.  During his time at SM&A, which included several financial leadership positions of increasing responsibility, he was responsible for overseeing financial stewardship and played a central role in various financial transactions and corporate acquisitions.  Mr. Hart also previously served as corporate controller for Biolase Technology, Inc., a Nasdaq-listed medical device manufacturer, helping the company complete a $52 million secondary offering and multiple corporate acquisitions.  He earned a bachelor of science degree in accounting from California Polytechnic State University, San Luis Obispo.