Ann: BCAL Commences US Operations, page-2

ASX Announcement
28 August 2024
BCAL commences US operations
Highlights:
• Establishment of BCAL US subsidiary
• Dr. Klaus-Peter Adam joins BCAL as Director US Research and Product Development
• Lease of US premises secured and key equipment purchased
• BCAL US research laboratory to commence operations 2 September 2024
BCAL Diagnostics Limited (ASX: BDX) (“BCAL” or “the Company”) is pleased to announce that it
has established a North Carolina, United States of America, incorporated wholly owned
subsidiary, BCAL Diagnostics, Inc. (“BCAL US”) which will commence operations on 2 September
2024.
The opportunity to establish BCAL US and commence operations arose out of BCAL research
partner Precion Inc undertaking an internal restructure. Key features are:
• BCAL US being established as a wholly owned subsidiary of BCAL, with BCAL US
officeholders being Shane Ryan as President and BCAL directors Jayne Shaw, Dr. John
Hurrell and Jonathan Trollip as directors of BCAL US.
• The purchase from Precion Inc. of equipment is required for the functioning of a US
laboratory.
• The former Chief Technology Officer of Precion, Dr. Klaus-Peter Adam, will join BCAL US,
as full-time Director of US Research and Product Development and will oversee BCAL US
operations.
• The BCAL US strategy is quickly building momentum. Dr. Adam is a highly credentialled
scientist, specializing in the area of metabolomics and lipidomics who will bring much
needed expertise to our growing US team and enhance our global research team. The US
program offers BCAL an opportunity to accelerate and validate new products on US
patient centric data and gain an in-county understanding of the US diagnostics market.
Collaboration with US Physicians is progressing at the first partner two sites, Michigan
and Chicago. Dr. John Hurrell (BCAL Board member and Consultant) is based in the US and
brings strong industry relevant expertise of the US market, having held senior leadership
roles in the US diagnostics space, including Quest Diagnostics. BCAL is also pleased to
announce the appointment of MS Cory Dunn who brings a wealth of US and Australian
marketing experience and comprehensive knowledge of the US breast cancer network.
BCAL CEO Shane Ryan commented: “This is a wonderful opportunity for BCAL to establish its US
presence, which is essential to our global market entry. Shareholders will recall from BCAL’s 2
August 2023 announcement the key role that Dr. Adam played in the 2023 clinical study, and we
are extremely fortunate to have gained the services of Dr. Adam on a full-time dedicated basis.”
While the specific financial terms on which BCAL has been able to establish its US operations are
commercially confidential, the BCAL board considers the opportunistic establishment of BCAL US
as being extremely cost-effective. Additionally, as result of the recent $10.5 million capital
raising, BCAL US has been established and can operate over the short-term without needing to
raise any further capital.
This announcement has been approved by the Board for release to the ASX.
For further information:
Jayne Shaw
Executive Chair
[email protected]
Shane Ryan
Chief Executive Officer
[email protected]