Berkeley Lights Publicizes CEO Transition and Preliminary Full Yr 2021 Monetary Replace

Firm Gives 2022 Income Progress Outlook

EMERYVILLE, Calif., Jan. 05, 2022 (GLOBE NEWSWIRE) — Berkeley Lights, Inc., (Nasdaq: BLI), (“BLI” or “the Firm”), a pacesetter in digital cell biology, at this time introduced that Eric D. Hobbs, Ph.D. will transition from his function as chief government officer (CEO) and member of the board of administrators to president of the Antibody Therapeutics enterprise line. The Firm is initiating a seek for a brand new CEO because it continues to execute on its enterprise technique, together with the profitable addition of providers to its portfolio of product choices. Dr. Hobbs will proceed to serve in his function as CEO and member of the board of administrators till the appointment of his successor.

Dr. Hobbs joined the Firm in 2013 to guide the business growth of Berkeley Lights’ opto-fluidic know-how, which resulted within the Beacon system that’s broadly acknowledged because the main platform for practical characterization of reside single cells, and have become CEO in 2017. In his new function as president, Antibody Therapeutics, Eric will deal with rising the Firm’s largest enterprise line. His deep data of this space, together with Berkeley Lights’ know-how, prospects and future R&D roadmap, will assist guarantee profitable enterprise continuity.

“Beneath Eric’s management as CEO, Berkeley Lights has realized a greater than a 10-fold income improve, launched a number of transformational merchandise, and accomplished a profitable IPO in 2020,” stated Gregory T. Lucier, chairperson of Berkeley Lights’ board of administrators. “As Berkeley Lights strikes into a brand new chapter of progress, we’re grateful we are going to proceed to profit from Eric’s management, expertise and perception as we revolutionize how scientists can entry main cell biology to make extraordinary discoveries.”

Throughout 2021, the Firm started to enter new markets by means of a partnership/service-based enterprise mannequin, leveraging the Berkeley Lights Platform by means of its BioFoundry lab. Income from the partnership/service enterprise grew three-fold in 2021 and drove roughly 20% of the Firm’s total 2021 income.

Mr. Lucier continued, “As we proceed to evolve our enterprise and government management, I’ll take a extra engaged function in offering steerage and help to the administration workforce to advance the collective purpose of driving worth for our prospects, companions and shareholders. We’re dedicated to conducting an intensive CEO search with a deal with figuring out a brand new chief with a confirmed report of scaling operations and unlocking the potential of extremely progressive corporations. I stay assured and excited in regards to the alternatives forward for Berkeley Lights as demand for our progressive know-how grows.”

“I’m deeply happy with what the Berkeley Lights workforce has completed. We’re at a essential transition level within the Firm’s historical past and it’s time for a brand new chief to assist construct upon our successes,” stated Dr. Hobbs. “Berkeley Lights is nicely positioned to advance its management within the digital cell biology market over the subsequent decade as our know-how proves ever extra essential to probably the most thrilling scientific advances.”

Mr. Lucier is a long-tenured life sciences government, having served as chairman and CEO of Life Applied sciences, which was acquired by Thermo Fisher Scientific in 2014, in addition to CEO and a member of the boards of administrators of a number of private and non-private corporations.

The board of administrators has engaged Russell Reynolds Associates, an government search marketing consultant, to help in its complete exterior CEO search course of.

Full Yr 2021 Monetary Replace

The Firm additionally reported preliminary, unaudited income for the complete yr ended December 31, 2021.

Whole income for the complete yr 2021 is anticipated to be within the vary of $84.0 million to $84.5 million, representing a rise of greater than 30% in comparison with $64.3 million in 2020.

In 2021, the Firm signed new contracts with whole income worth of as much as $115 million, inclusive of direct gross sales and roughly $42 million in partnership/providers enterprise, demonstrating the continued adoption of Berkeley Lights know-how. As well as, recurring income grew greater than 35% in comparison with prior yr.

These preliminary outcomes are based mostly on administration’s preliminary evaluation of operations for the quarter ended December 31, 2021. The corporate expects to situation full monetary outcomes for the fourth quarter and full yr 2021 in late February.

2022 Outlook

The Firm expects income for 2022 to develop roughly 30% in comparison with prior yr income. Partnership/providers enterprise income is anticipated to proceed to develop, each in absolute {dollars} and as a share of whole income, and anticipate this to gas whole firm progress in 2023 and past. Additional particulars will probably be mentioned on the fourth quarter and full yr 2021 earnings name.

J.P. Morgan Healthcare Convention Participation

Berkeley Lights administration is taking part nearly within the upcoming fortieth Annual J.P. Morgan Healthcare Convention on Tuesday, January 11 at 12:45 p.m. Pacific Time / 3:45 p.m. Jap Time. events might entry a reside and archived webcast of the presentation on the “Buyers” part of the corporate web site at www.berkeleylights.com.

About Berkeley Lights

Berkeley Lights is a number one digital cell biology firm centered on enabling and accelerating the fast growth and commercialization of biotherapeutics and different cell-based merchandise for our prospects. The Berkeley Lights Platform captures deep phenotypic, practical and genotypic info for hundreds of single cells in parallel and may also ship the reside biology prospects want within the type of the perfect cells. Our platform is a totally built-in, end-to-end resolution, comprising proprietary consumables, together with our OptoSelect™ chips and reagent kits, superior automation techniques, and software software program. We developed the Berkeley Lights Platform to supply probably the most superior surroundings for fast practical characterization of single cells at scale, the purpose of which is to ascertain an trade customary for our prospects all through their cell-based product worth chain. Berkeley Lights’ Beacon® and Lightning™ techniques and Tradition Station™ instrument are FOR RESEARCH USE ONLY. Not to be used in diagnostic procedures.

Ahead-Wanting Statements

To the extent that statements contained on this press launch will not be descriptions of historic information relating to Berkeley Lights or its merchandise, they’re forward-looking statements reflecting the present beliefs and expectations of administration and the Board of Administrators, together with its expectations with regard to income progress and working efficiency. Such forward-looking statements contain substantial recognized and unknown dangers and uncertainties that relate to future occasions, and precise outcomes and product efficiency might differ considerably from these expressed or implied by the forward-looking statements. Berkeley Lights undertakes no obligation to replace or revise any forward-looking statements. For an additional description of the dangers and uncertainties referring to the Firm’s progress and continuous evolution see the statements within the “Threat Components” sections, and elsewhere, in our filings with the U.S. Securities and Alternate Fee.

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