Cytek Biosciences Appoints Dr. Philippe Busque Senior Vice President of Global Sales & Services
5-day change
Today at 05:31 am
Sales Organization Enhanced, Platform Organization Created
FREMONT, Calif., Aug.  28, 2023  (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, today announced the appointment of Philippe Busque, Ph.D. as Senior Vice President of Global Sales & Services. In this newly created position, Dr. Busque will lead an enhanced global sales organization encompassing all customer facing functions worldwide, including sales, service, and technical application support, building on the recently integrated sales team that combines the original Cytek sales force with the Amnis® and Guava® sales force. “Philippe’s extensive global sales and marketing experience as an executive at several life science companies, including Johnson & Johnson, Sony Biotechnology, and BD Biosciences, makes him an outstanding choice to lead our sales organization. Prior to his experience in sales, Philippe was trained as a scientist with a master’s degree in microbiology and Ph.D. in Immunology, giving him insight into Cytek’s customers’ full solution needs,” commented Dr. Wenbin Jiang, CEO of Cytek. Cytek’s acquisition of the Amnis and Guava product lines from Luminex Corporation in February 2023 provided the Company with expanded market access, new product development opportunities, and operational synergies. To take advantage of these expanded market and product development opportunities, Cytek is reorganizing its Commercial function into two distinct operations: the enhanced sales organization led by Dr. Busque, and a new Platform organization, which will encompass marketing, product roadmaps, and program management. The Company believes the new structure will support the Company’s transition toward a market-driven organization and to develop and sell cell analysis solutions based on market-derived inputs. These market inputs will shape Cytek’s research, new product, and applications development, and its approach to interacting with customers. In parallel with these enhancements, Cytek’s Chief Commercial Officer, Todd Garland, is leaving Cytek for another opportunity. “We appreciate Todd’s contributions in building Cytek’s commercial team and helping shape this enhanced sales organization, which, I believe, will enable Cytek to better serve our customers, be more responsive to market signals, accelerate our revenue growth and profitability, and increase our market presence,” said Dr. Jiang. “Our sales teams are excited about the combination of our commercial organizations and the opportunities brought to us through the transition toward a market-driven focus, which is another strong validation of our commitment to delivering full cell analysis solutions to our customers.”
About Cytek Biosciences, Inc.
Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek’s FSP platform includes its core instruments, the Aurora and Northern Lights™ systems; its cell sorter, the Aurora CS; the flow cytometer and imaging products under the Amnis® and Guava® brands; and reagents, software and services to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at www.cytekbio.com. Other than Cytek’s Northern Lights CLC system and certain reagents for use therewith, which are available for clinical use in countries where the regulatory approval has been obtained from the local regulatory authorities, including China and the European Union, Cytek’s products are for research use only and not for use in diagnostic procedures. Cytek, Full Spectrum Profiling, FSP, Northern Lights, Amnis and Guava are trademarks of Cytek Biosciences, Inc. In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page and corporate “X” (formerly Twitter) account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek’s website, LinkedIn page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts. Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might," "will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding Cytek’s market and product development opportunities and the anticipated benefits of the enhanced sales organization, including Cytek’s ability to better serve its customers, be more responsive to market signals, accelerate its revenue growth and profitability, and increase its market presence. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as those relating to global economic and market conditions; Cytek’s ability to recognize the anticipated benefits of the acquired flow cytometry and imaging business; Cytek’s dependence on certain sole and single source suppliers; competition; market acceptance of Cytek’s current and potential products; Cytek’s ability to manage the growth and complexity of its organization, maintain relationships with customers and suppliers and retain key employees; Cytek’s ability to maintain, protect and enhance its intellectual property; and Cytek’s ability to continue to stay in compliance with its material contractual obligations, applicable laws and regulations. You should refer to the section entitled “Risk Factors” set forth in Cytek’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2023 and other filings Cytek makes with the SEC from time to time for a discussion of important factors that may cause actual results to differ materially from those expressed or implied by Cytek’s forward-looking statements. Although Cytek believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. The forward-looking statements in this press release are based on information available to Cytek as of the date hereof, and Cytek disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Cytek’s views as of any date subsequent to the date of this press release. Media Contact:

Cytek Biosciences Appoints Dr. Philippe Busque Senior Vice President of Global Sales & Services

Fremont, California, UNITED STATES
FREMONT, Calif., Aug.  28, 2023  (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc.  (Nasdaq: CTKB), a leading cell analysis solutions company, today announced the appointment of Philippe Busque, Ph.D. as Senior Vice President of Global Sales & Services. In this newly created position, Dr. Busque will lead an enhanced global sales organization encompassing all customer facing functions worldwide, including sales, service, and technical application support, building on the recently integrated sales team that combines the original Cytek sales force with the Amnis® and Guava® sales force. “Philippe’s extensive global sales and marketing experience as an executive at several life science companies, including Johnson & Johnson, Sony Biotechnology, and BD Biosciences, makes him an outstanding choice to lead our sales organization. Prior to his experience in sales, Philippe was trained as a scientist with a master’s degree in microbiology and Ph.D. in Immunology, giving him insight into Cytek’s customers’ full solution needs,” commented Dr. Wenbin Jiang, CEO of Cytek. Cytek’s acquisition of the Amnis and Guava product lines from Luminex Corporation in February 2023 provided the Company with expanded market access, new product development opportunities, and operational synergies. To take advantage of these expanded market and product development opportunities, Cytek is reorganizing its Commercial function into two distinct operations: the enhanced sales organization led by Dr. Busque, and a new Platform organization, which will encompass marketing, product roadmaps, and program management. The Company believes the new structure will support the Company’s transition toward a market-driven organization and to develop and sell cell analysis solutions based on market-derived inputs. These market inputs will shape Cytek’s research, new product, and applications development, and its approach to interacting with customers. In parallel with these enhancements, Cytek’s Chief Commercial Officer, Todd Garland, is leaving Cytek for another opportunity. “We appreciate Todd’s contributions in building Cytek’s commercial team and helping shape this enhanced sales organization, which, I believe, will enable Cytek to better serve our customers, be more responsive to market signals, accelerate our revenue growth and profitability, and increase our market presence,” said Dr. Jiang. “Our sales teams are excited about the combination of our commercial organizations and the opportunities brought to us through the transition toward a market-driven focus, which is another strong validation of our commitment to delivering full cell analysis solutions to our customers.”
About Cytek Biosciences, Inc.
Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek’s FSP platform includes its core instruments, the Aurora and Northern Lights™ systems; its cell sorter, the Aurora CS; the flow cytometer and imaging products under the Amnis® and Guava® brands; and reagents, software and services to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at  www.cytekbio.com . Other than Cytek’s Northern Lights CLC system and certain reagents for use therewith, which are available for clinical use in countries where the regulatory approval has been obtained from the local regulatory authorities, including China and the European Union, Cytek’s products are for research use only and not for use in diagnostic procedures. Cytek, Full Spectrum Profiling, FSP, Northern Lights, Amnis and Guava are trademarks of Cytek Biosciences, Inc. In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website ( www.cytekbio.com ),  LinkedIn page  and  corporate “X” (formerly Twitter) account  as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek’s website, LinkedIn page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts. Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might," "will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding Cytek’s market and product development opportunities and the anticipated benefits of the enhanced sales organization, including Cytek’s ability to better serve its customers, be more responsive to market signals, accelerate its revenue growth and profitability, and increase its market presence. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as those relating to global economic and market conditions; Cytek’s ability to recognize the anticipated benefits of the acquired flow cytometry and imaging business; Cytek’s dependence on certain sole and single source suppliers; competition; market acceptance of Cytek’s current and potential products; Cytek’s ability to manage the growth and complexity of its organization, maintain relationships with customers and suppliers and retain key employees; Cytek’s ability to maintain, protect and enhance its intellectual property; and Cytek’s ability to continue to stay in compliance with its material contractual obligations, applicable laws and regulations. You should refer to the section entitled “Risk Factors” set forth in Cytek’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2023 and other filings Cytek makes with the SEC from time to time for a discussion of important factors that may cause actual results to differ materially from those expressed or implied by Cytek’s forward-looking statements. Although Cytek believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. The forward-looking statements in this press release are based on information available to Cytek as of the date hereof, and Cytek disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Cytek’s views as of any date subsequent to the date of this press release. Media Contact:

Valley Cottage, New York, UNITED STATES
NEWARK, Del, July  13, 2023  (GLOBE NEWSWIRE) -- The Global Immunohistochemistry (IHC) Market size is expected to reach a worth of nearly US$ 2.1 billion in 2023 due to its rapid expansion. The demand for immunohistochemistry is anticipated to increase significantly during the next several years with a projected CAGR of 8.8% from 2023 to 2033. By 2033, this market worldwide is anticipated to grow even further, reaching a value of US$ 4.9 billion. Pathology and molecular biology both make extensive use of the method of immunohistochemistry to reveal important details about cellular makeup, operations, and pathological states. So, immunohistochemistry is widely used in biomedical research in several fields, including cancer research, medication development, and diagnostic pathology. The effectiveness and precision of immunohistochemistry have increased through technological and automated improvements making it affordable and practical for a range of clinical applications. Furthermore, the procedure has been streamlined, and turnaround time has been decreased, with automated platforms, multiplex staining methods, and digital imaging systems. Take a Deep Dive: Access Our Sample Report to Understand How the Shipping Industry and Green Hydrogen Initiatives Drive the Immunohistochemistry Market: https://www.futuremarketinsights.com/reports/sample/rep-gb-14808
Demand for biomarker evaluation is expanding with the increased focus on targeted medicines and the requirement for accurate patient categorization based on molecular profiling. So, it is anticipated that the need for immunohistochemistry -based diagnostics might be driven by the growing elderly population vulnerable to chronic illnesses. On top of that, the market is expanding as a result of rising awareness of early illness detection and the value of correct diagnosis. Key Takeaways from this Market Study:
Geographically, the United States controlled 38.8% of the global market in 2022 because of the region's developed healthcare infrastructure, and high healthcare spending. The demand for immunohistochemistry-based diagnostics in the United Kingdom is being fueled by the rising prevalence of chronic illnesses and the growing elderly population. However, over the next ten years, this regional market is anticipated to witness an annual average growth rate of only 3.9%. FMI projects that the Asia Pacific region could see substantial development in the adoption of immunohistochemistry, mostly because of the region's expanding healthcare infrastructure. Particularly, China and India have increased investments in the biotechnology and pharmaceutical industries, and are expected to witness 9.3% and 8.7% CAGRs through 2033 respectively. Elevate Your Experience with Personalized Excellence: Customize Perfection at a Discounted Price: https://www.futuremarketinsights.com/customization-available/rep-gb-14808
Recent Developments by the Immunohistochemistry Market Players:
The debut of Abcam, PLC's new line of immunohistochemistry primary antibodies was announced in June 2023. The company claims the purpose of these antibodies is to enhance the identification of particular proteins in tissue samples. A new series of automated immunohistochemistry kits from DakoEnVision Company was introduced by Merck KGaA in May 2023. These improved kits are designed and intended to increase the IHC testing's sensitivity and specificity. Agilent Technologies Incorporation, a manufacturer of automated immunohistochemistry systems, announced in March 2023 that it had acquired Amnis Corporation. Agilent now can access new customers and diversify its IHC product line after this purchase. Thermo Fisher Scientific Incorporation declared the release of their new PathXL immunohistochemistry software in April 2023. This new program is intended to make it easy for pathologists to correctly interpret immunohistochemistry data. F. Hoffmann-La Roche AG declared the release of its brand-new Ventana Benchmark XT automated IHC system in February 2023. The system's prominent role is to increase the precision and effectiveness of immunohistochemistry diagnostics or testing. The top 9 Key Players Involved are:
Thermo Fisher

Immunohistochemistry Market Set to Reach US$ 4.9 Billion in 2033 with Rapid Expansion in Pathology and Molecular Biology | Future Market Insights, Inc.

Amnis Treasury Takes Over SME Business of Fx-Consulting AG

AMNIS Treasury, a FinTech company founded in 2014 with the objective of simplifying international banking for SMEs, has recently acquired the SME portfolio of FX-Consulting AG. With this strategic move, the two Zurich-based companies aim to enhance their support for Swiss SMEs in international transactions. The acquisition further solidifies amnis ’ position as the leading FinTech company in Switzerland’s international SME banking sector. Amnis offers small and medium-sized enterprises (SMEs) an international banking solution to send money abroad, exchange currencies and receive payments via business accounts in more than 20 currencies. Virtual and physical multi-currency debit cards further simplify expense reporting for companies and their employees. Last year, the company entered 6 new countries, tripled its team and processed CHF 1.5 billion in payment volume. In the first trimester of 2023, amnis continued to grow year-on-year with 94% volume growth and 97% revenue growth. The portfolio acquisition now enables amnis to further expand its position in the domestic market. Cross-border payment transactions incur high costs for companies. Large corporations, equipped with their own payment factories, gain a competitive edge due to their greater negotiating power. The shared objective of both companies is to provide SMEs with access to transparent and automated foreign exchange and payment processes. However, FinTechs face challenges due to factors such as war, inflation, and rising interest rates, which exert pressure on them. Through the takeover, FX-Consulting AG’s SME customers can be guaranteed the best possible offer despite the current market environment. Adrian Spörri
FX-Consulting AG was founded in 1995 in Zurich and specialises in foreign exchange trading for companies. Adrian Spörri, owner of FX-Consulting AG, says about the takeover:
“The merger with amnis represents the optimal solution for my long-standing, loyal clients. With this collaboration, we can ensure the provision of the best possible offerings and maintain competitiveness without depending on the goodwill of the house bank.”
As a member of the Advisory Board at amnis, Adrian Spörri will continue to be available to his clients. Michael Wüst
“We look forward to working with Adrian and the new SME customers. Our solution will enable the additional users to further simplify their international banking. The partnership with FX-Consulting AG may well be a model for amnis to grow even faster in Switzerland and Europe,” says Michael Wüst, Co-founder and CEO of amnis. Amnis was founded in 2014 by Michael Wüst (CEO), Robert Bloch (COO) and Philippe Christen (CFO) to simplify international banking for SMEs. To meet its ambitious goals, amnis has continuously improved its core product, automated the digital account opening process and expanded its product portfolio to include local IBAN and multi-currency accounts. In July 2023, the Fintech company will be launching virtual and physical multi-currency debit cards that come with convenient features for budget controls and simplified accounting. With the successful acquisition, all customers of FX-Consulting AG can now enjoy the advantages of the all-in-one amnis business account.

Amnis Treasury Takes Over SME Business of Fx-Consulting AG

After its series A round, amnis is accelerating its expansion into new European markets. After Amsterdam, the startup recently opened a new office in Slovakia to ease international banking for SMEs in those regions.

New business grounds for Amnis

Hawk:AI develops and operates a cloud-based software solution for the automated detection of suspected cases of financial crime. It allows financial institutions to improve transaction surveillance and ensure regulatory compliance. It offers payment screening, customer screening, customer risk rating, and tax monitoring solutions for retail and corporate banking, neo-banks, payment companies, and financial technology. The company was founded in 2018 and is based in Munich, Germany.

Hawk:AI

Munich/Zürich , 22 February , 2022 -- HAWK : AI , Germany 's leading provider of anti-money laundering surveillance technology for banks , payment companies and fintechs , today announced a new partnership with amnis , the simple , fast , and affordable international payment platform for SMEs .

HAWK:AI partners with amnis to strengthen AML capabilities for European growth

Amnis Corporation

Stratos Genomics

Stratos Product Development

Stratos Group

Inroads

Enroute

Fluke

Funding Date

Pre-Money Valuation

Post-Money Valuation

Amount Raised

Shares Authorized

Issuance Price

Dividend Rate

Liquidation Preferences

Liquidation Price

Participation

Conversion Price

Anti Dilution

General Voting

Board Voting

Par Value

Acquired - II

Acquired

Unattributed VC

Series B

Series C

Amnis Corporation offers high speed cell imaging for research and diagnostics

Luminex

WaferGen markets SmartChip TE (Target Enrichment for Next-Generation Sequencing (NGS)) and SmartChip MyDesign (high-throughput quantitative PCR) products. SmartChip TE addresses CLIA-certified and clinical research laboratories' significant unmet needs in sequencing-based testing by providing uniform coverage of targeted genes, yielding better test specificity and sensitivity. The superior performance of this new product is based on WaferGen's proprietary technology that relies on massively parallel singleplex PCR reactions, where amplification is cleaner and better controlled, thereby providing more accurate diagnostic test results in the downstream sequencing step. On the qPCR side, the SmartChip MyDesign System has a powerful value proposition of content design flexibility, cost-effectiveness, and no need for pre-amplification.

Neural Stem Cell Institute ( NSCI) develops regenerative stem cell therapies for various diseases of the central nervous system. The company is based in Rensselaer, New York.

Sally Temple

Director

Compugen is a drug discovery company focused on therapeutic proteins and monoclonal antibodies to address important unmet needs in the fields of immunology and oncology. The Company utilizes a broad and continuously growing integrated infrastructure of scientific understandings and predictive platforms, algorithms, machine learning systems and other computational biology capabilities.

Compugen

Compugen Announces Second Diagnostic Agreement with Biosite Incorporated.

XOMA (NASDAQ: XOMA) is a biotechnology company focused on the discovery and development of monoclonal antibody-based therapeutics. The Company is a late-stage biotechnology company with a diverse portfolio of innovative therapeutic antibodies. XOMA's product candidates are the result of developing monoclonal antibodies, which have created new opportunities to potentially treat a wide range of endocrine diseases.

XOMA

Acq - P2P

Biosite is a medical device company. It had developed the Inratio/inratio2 Test Strips.

Biosite Diagnostics

Alere

CareDx (NASDAQ: CDNA) develops clinically differentiated, high-value, non-invasive gene-expression test and surveillance solutions for transplant recipients. The company commercializes AlloMap, which aids clinicians in identifying heart transplant recipients with stable graft function.

The European Society for Organ Transplantation (ESOT) is a non-profit organization. It specializes in organ transplantation. It cooperates with many other organizations to structure and streamline transplant activities. It was founded in 1982 and is based in Padova, Italy.

Wells Fargo Success Story

Professional Services

Platform Overview

Compare Amnis Corporation vs Biosite Diagnostics

Customers evaluate the quality of Amnis Corporation's products using the following success metrics.