Avid Bioservices Announces Appointment of Daniel Hart as Chief Financial Officer - Seite 2

In addition, Avid also announced the appointment of Michael Faughnan as the company’s senior director of business development for the western region.  Mr. Faughnan has more than 18 years of relevant biotechnology industry experience, including tenures with CDMO industry leaders such as WuXi Biologics, Abzena, Lonza Biologics, Eden Biodesign and Cytovance Biologics.  He most recently was senior director of business development at WuXi Biologics, where he oversaw the west coast sales team which established record sales figures under his leadership.  At Avid, Mr. Faughnan will play a key role in the company’s new customer acquisition efforts on the west coast of the US and Canada, while supporting all its existing clients in the western half of the US.

“With Dan joining our team, we have added a talented and experienced individual with all the critical skills required for stewarding the financial activities of a growing public company.  As we continue to aggressively focus our efforts on growing and diversifying our client base, Dan’s expertise in executing financial strategies that positively impact bottom-line results will prove valuable,” said Roger Lias, Ph.D., Avid’s president and chief executive officer. “We are also pleased to bring Mike on board to oversee our business development efforts in the western portion of the country and Canada  He will team with Sandra Carbonneau, our recently appointed director of business development for the east coast, to drive our comprehensive, nationwide new business acquisition effort.”

About Avid Bioservices, Inc.
Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) focused on development and cGMP manufacturing of biopharmaceutical products derived from mammalian cell culture.  The company provides a comprehensive range of process development, high quality cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries.  With 25 years of experience producing monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes, Avid's services include cGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission and support.  The company also provides a variety of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization.  www.avidbio.com

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Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
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Tim Brons (Media)
Vida Strategic Partners
415-675-7402
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