26 August 2016
PACIFIC EDGE 2016 ANNUAL MEETING RESULTS
Pacific Edge held its Annual Meeting in Dunedin on 25 August 2016, updating
shareholders on the milestones achieved in the past year and its positive
progress in the year to date.
Incoming Chairman Chris Gallaher commented that Pacific Edge was an exciting
company with world leading products and staffed by talented people committed
to improving health outcomes and delivering value for shareholders.
"Pacific Edge has positioned itself well to win in the world''s largest
healthcare market, the USA, and it''s gaining good traction in other markets.
The potential to create shareholder value is enormous. The task now for the
Board and management team is to deliver on that potential."
Chris thanked retiring Chairman, Chris Swann, for his contributions to the
company over the 11 years of his tenure.
"During his time, the company has grown from a medical research organisation
to an international business making waves in the global healthcare market.
Pacific Edge is leading the way in molecular diagnostics tests for bladder
cancer patients, and we are now seeing growing acceptance and demand for our
easy to use, accurate and cost effective Cxbladder tests. The company has
undertaken large scale clinical trials with very positive results; has
identified an effective commercial pathway to bring our products to market;
and has built a strong platform on which our business can continue to grow."
CEO of Pacific Edge, David Darling, updated shareholders on progress in the
year to date, citing the recently announced coverage from a private insurance
provider as an example of the traction Cxbladder is gaining as a cost
efficient, accurate and easy to use bladder cancer diagnostic.
"The opportunity for our company is huge. We are well ahead of any potential
competitors in terms of trial and acceptance of our technology, the
development of a suite of products, and clinical validation. While we are
still in the early stages of our journey, we are working hard to ensure our
suite of products are the preferred choice for urologists and large
healthcare organisations.
"We have a well-considered plan of action for the year and are already making
progress against our objectives. We anticipate another year of growing
returns as we work towards our goal of providing a ''one stop shop'' of high
performance Cxbladder products for urologists."
Shareholders voted in favour of all resolutions at the 2016 Annual Meeting.
Resolution:
Re-election of Mr David Band - passed
Election of Mr David Levison - passed
Election of Mr Chris Gallaher - passed
Authorise Directors to fix the auditors'' remuneration - passed
Pursuant to NZSX Listing Rule 3.3.2, Pacific Edge has determined that the
following Directors are independent, as defined in NZSX Listing Rule 1.6.1:
o Chris Gallaher (Independent Chairman)
o David Band
o David Levison
o Anaotole Masfen
o Bryan Williams
The following Directors are not Independent Directors due to a Disqualifying
Relationship as defined in NZSX Listing Rule 1.6.1: David Darling: An
executive of Pacific Edge.
A copy of the annual meeting presentation and speeches is available on the
company website www.pacificedge.co.nz
ENDS
For more information contact:
David Darling, Chief Executive Officer, Pacific Edge Ltd
P: +64 (3) 479 5800
OVERVIEW www.pacificedge.co.nz www.pacificedgedx.com
Pacific Edge Limited (NZX: PEB) is a New Zealand publicly listed, cancer
diagnostic company specialising in the discovery and commercialisation of
diagnostic and prognostic tests for better detection and management of
cancer. The company is developing and commercialising its range of Cxbladder
bladder cancer tests globally through its wholly owned central laboratories
in New Zealand and the USA. The company''s products have been tested and
validated in international multi-centre clinical studies.
Pacific Edge has three proprietary, novel, accurate, molecular diagnostic
products in-market providing actionable results, and better detection and
management of urothelial cancer. Cxbladder Detect is available through the
company''s dedicated CLIA certified laboratories for customers in New Zealand,
Australia and the USA. Cxbladder Triage is available in New Zealand and
Australia. Cxbladder Monitor launched in New Zealand in December 2015 and is
anticipated being available in the US in 2016.
ABOUT Cxbladder Triage www.cxbladder.com
Cxbladder Triage combines the power of the genomic biomarkers with additional
phenotypic and clinical risk factors to accurately identify patients with
haematuria who have a low probability of bladder cancer and may not require a
more extensive urological evaluation. Cxbladder Triage is a tool for use by
clinicians and physicians in primary evaluation of patients with hematuria
and is intended to reduce the need for an expensive and invasive work-up in
patients who have a low probability of having urothelial carcinoma.
ABOUT Cxbladder Detect www.cxbladder.com
Cxbladder Detect enables the non-invasive detection of bladder and other
urinary tract cancers from a small volume of a patients'' urine. Cxbladder
Detect was launched in 2013 in the USA and is commercially available in New
Zealand, Australia and the USA as a Laboratory Developed Test (LDT) from the
company''s CLIA certified laboratories. Cxbladder Detect provides physicians
and clinicians with a quick, cost effective and accurate measure of the
presence of the cancer as an effective adjunct to cystoscopy.
ABOUT Cxbladder Monitor www.cxbladder.com
Cxbladder Monitor, the third test in the Cxbladder portfolio for urologists,
is a proprietary, non-invasive, molecular diagnostic test that combines
genomic biomarkers measured from a small quantity of a patient''s urine, with
patient specific clinical factors to better monitor bladder cancer patients
for recurrence. Bladder cancer has a recurrence rate of 50-80% and requires
life-long surveillance. Cxbladder Monitor accurately identifies patients with
a prior history of urothelial cancer (UC) whose Cxbladder Monitor score shows
that they have a low probability of recurrent urothelial carcinoma. Cxbladder
Monitor is designed to be used as the preferred adjunct test to cystoscopy in
the management of patients for ongoing evaluation of recurrent bladder
cancer.
Refer to www.cxbladder.com for more information.
End CA:00287975 For:PEB Type:MEETING Time:2016-08-26 10:14:24