DiaCarta, Ltd. (“DiaCarta”), a novel molecular diagnostic test
developer for cancer and infectious diseases, today announced that
it has received accreditation by the College of American
Pathologists (CAP) for its CLIA certified lab. This
accreditation is awarded to facilities that meet the high standards
of quality, accuracy, and consistency in laboratory services
required by CAP and underscores DiaCarta’s leadership and
commitment to excellence.
"This CAP Accreditation is a tremendous
accomplishment that signifies DiaCarta’s commitment to excellence
and I am proud of our team’s dedication in support this major
milestone," said Zheng Li, Vice President of Medical
Clinical Affairs at DiaCarta. “This achievement reflects our
continued adherence to the highest standards of quality, accuracy
and consistency in providing clinical diagnostic tests to patients
and clinical communities and builds on the success of our recently
won New York State CLIA license."
The U.S. federal government recognizes the CAP
Laboratory Accreditation Program as being equal-to or
more-stringent than the government's own inspection
program. During the CAP inspection process, inspectors examine
the laboratory's quality system and records. Included in the
inspection is the examination of laboratory staff qualifications,
laboratory equipment, safety programs, and overall management
practices.
About DiaCartaDiaCarta is a
molecular diagnostics company that has developed innovative
technologies to transform patient care by providing effective
precision diagnostics using liquid biopsy. Its novel XNA technology
is designed to provide a high level of sensitivity as it binds to
the wild-type sequence, to enable only the mutant target sequence
to be amplified. Using this technology, DiaCarta has developed its
ColoScape™ colorectal cancer mutation test. Powered by its
isorbDNA™ technology that amplifies the signal and requires no
RNA/DNA extraction or amplification, DiaCarta has developed its
RadTox™ test to personalize radiation and chemotherapy, mitigate
adverse events and enhance patient care. Based in Pleasanton,
California, DiaCarta is ISO certified, GMP-compliant, and offers
CLIA certified laboratory services to its
customers. www.diacarta.com
On October 14, 2022, DiaCarta and HH&L
Acquisition Co. (NYSE: HHLA), a special purpose acquisition
corporation, entered into a definitive business combination
agreement that would result in DiaCarta becoming a public
company.
About the College of American Pathologists
As the world’s largest organization of
board-certified pathologists and a leading provider of laboratory
accreditation and proficiency testing programs, the College of
American Pathologists (CAP) serves patients, pathologists, and the
public by fostering and advocating excellence in the practice of
pathology and laboratory medicine worldwide. For more information,
read the CAP Annual Report at cap.org.
Important Additional Information Will Be Filed with the
SEC
This communication relates to the proposed
business combination between HH&L and DiaCarta (the “Business
Combination”). HH&L has filed a preliminary, and will file a
definitive, proxy statement, which will include a prospectus, which
will be a part of a registration statement, and other relevant
documents with the SEC. This communication does not contain all the
information that should be considered concerning the proposed
Business Combination and is not intended to form the basis of any
investment decision or any other decision in respect of the
Business Combination. HH&L’s and DiaCarta’s shareholders and
other interested persons are urged to read the proxy
statement/prospectus and any other relevant documents filed with
the SEC when they become available, and any amendments thereto,
because, among other things, they will contain updates to the
financial, industry and other information herein as well as
important information about HH&L, DiaCarta and the contemplated
Business Combination. When available, the definitive proxy
statement/prospectus and other relevant materials for the proposed
Business Combination will be mailed to shareholders of HH&L as
of a record date to be established for voting on the proposed
Business Combination. Shareholders will be able to obtain a free
copy of the proxy statement/prospectus (when filed), as well as
other filings containing information about HH&L, DiaCarta and
the proposed Business Combination, without charge, at the SEC’s
website located at www.sec.gov or by directing a request to:
HH&L Acquisition Co., Suite 2001-2002, 20/F, York House, The
Landmark, 15 Queen’s Road Central, Central, Hong Kong. Investment
in any securities described herein has not been approved or
disapproved by the SEC or any other regulatory authority nor has
any authority passed upon or endorsed the merits of the Business
Combination or the accuracy or adequacy of the information
contained herein. Any representation to the contrary is a criminal
offense.
Forward-Looking Statements
This communication contains certain statements,
estimates, targets, forecasts, and projections with respect to
HH&L or DiaCarta. All statements other than statements of
historical fact are forward-looking statements. Forward-looking
statements include, without limitation, statements regarding the
estimated future financial performance and financial position of
DiaCarta. Future results are not possible to predict. Opinions and
estimates offered in this communication constitute DiaCarta’s
judgment and are subject to change without notice, as are
statements about market trends, which are based on current market
conditions. You can identify these forward looking statements
through the use of words such as “may,” “will,” “can,”
“anticipate,” “assume,” “should,” “indicate,” “would,” “believe,”
“contemplate,” “expect,” “seek,” “estimate,” “continue,” “plan,”
“point to,” “project,” “predict,” “could,” “intend,” “target,”
“potential” and other similar words and expressions of the future,
but the absence of these words does not necessarily mean that a
statement is not forward-looking. Such forward-looking statements
are based on estimates, assumptions and factors that are inherently
uncertain, that are beyond DiaCarta’s control or ability to predict
and that could cause actual results to differ materially from
expected results. As a result, they are subject to significant
risks and uncertainties and actual events or results may differ
materially from these forward-looking statements. No reliance
should be placed on any forward-looking statements, including any
projections, targets, estimates or forecasts contained in this
communication. Any forward-looking statement speaks only as of the
date on which it was made, based on information available as of the
date of this communication, and such information may be inaccurate
or incomplete. Products described by DiaCarta in its pipeline are
under investigation and have not been proven to be safe or
effective, and there is no guarantee any such product will be
approved in the sought-after indication or will meet the
developmental milestones set forth herein, including within the
timeline set forth herein. Neither DiaCarta nor HH&L undertakes
any obligation to release any revisions to such forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law. Information regarding
performance by, or businesses associated with, our management team
or businesses associated with them is presented for informational
purposes only. Past performance by DiaCarta’s management team and
its affiliates is not a guarantee of future performance. Therefore,
you should not rely on the historical record of the performance of
DiaCarta’s management team or businesses associated with them as
indicative of DiaCarta’s future performance of an investment or the
returns DiaCarta will, or is likely to, generate going forward.
Participants in the Solicitation
HH&L and its directors and executive
officers may be deemed to be participants in the solicitation of
proxies from HH&L’s shareholders in connection with the
proposed Business Combination. A list of the names of HH&L’s
directors and executive officers and information regarding their
interests in HH&L is contained in HH&L’s Annual Report on
Form 10-K, which was filed with the SEC on March 30, 2022, and is
available free of charge at the SEC’s website at www.sec.gov, or by
directing a request to HH&L Acquisition Co., Suite 2001-2002,
20/F, York House, The Landmark, 15 Queen’s Road Central, Central,
Hong Kong. Additional information regarding the interests of any
such participants will be contained in the proxy
statement/prospectus for the proposed Business Combination when
available.
DiaCarta and its directors and executive
officers may also be deemed to be participants in the solicitation
of proxies from the shareholders of HH&L in connection with the
proposed Business Combination. A list of the names of such
directors and executive officers and information regarding their
interests in the proposed Business Combination will be included in
the proxy statement/prospectus for the proposed Business
Combination when available.
The definitive proxy statement/prospectus will
be mailed to shareholders as of a record date to be established for
voting on the proposed Business Combination when it becomes
available. Shareholders, potential investors and other interested
persons should read the proxy statement/prospectus carefully when
it becomes available before making any voting or investment
decisions.
No Offer or Solicitation
This communication is for informational purposes
only and does not constitute (i) a solicitation of a proxy, consent
or authorization with respect to any securities or in respect of
the Business Combination, (ii) an offer or invitation for the sale
or purchase of the securities, assets or business described herein
or a commitment of HH&L, DiaCarta or any of their respective
subsidiaries, stockholders, affiliates, representatives, partners,
directors, officers, employees, advisers or agents, with respect to
any of the foregoing, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction, and this press release
shall not form the basis of any contract, commitment or investment
decision and does not constitute either advice or recommendation
regarding any securities.
Company Contact:Anne Vallerga PhD, MBAVP, External
Affairsannek@diacarta.com
PR Contact:Jennifer SparanoVP, Public
Relationsjsparano@peregrinemarketaccess.com
Investor Contact:Cody Slach, Matthew HauschGateway Group, Inc.
(949) 574-3860DiaCarta@GatewayIR.com
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