GlobeNewswire Inc | Mar 8, 2021 08:46AM EST

March 08, 2021

HAUPPAUGE, N.Y., March 08, 2021 (GLOBE NEWSWIRE) -- Chembio Diagnostics, Inc. (Nasdaq:CEMI), a leading point-of-care diagnostic company focused on infectious diseases, today announced the appointment of David Bespalko to the Companys Board of Directors, effective upon his election on March 4, 2021.

Mr. Bespalko brings over 35 years of leadership experience in the global in vitro diagnostics market. Most recently he was Group Vice President, Global Commercial Operations Specialty Diagnostics Group at Thermo Fisher Scientific, which he joined in 2011 as President of Fisher Healthcare. During his tenure there, Mr. Bespalko held additional roles such as President of the Global Anatomical Pathology Division. Previously, Mr. Bespalko was Corporate Vice President, North America Commercial Operations at Beckman Coulter. His diagnostics career began in Canada with commercial and general management roles at Baxter Healthcare and Dade Behring. Mr. Bespalko now manages his own consulting firm, BMC, helping early-stage companies and providing executive mentorship.

Also on March 4, 2021, Dr. Mary Lake Polan informed the Board of Directors that she would not stand for reelection to the Board at the Companys 2021 Annual Meeting of Shareholders.

We are delighted to welcome David to the Board of Directors, said Katherine L. Davis, Chair of Chembio's Board of Directors. Given Davids extensive network and experience in the industry, he will add valuable insight to help maximize the value of our DPP platform in the market. We look forward to his collaboration and contributions. We also would like to thank Dr. Polan for her service and leadership throughout her tenure and wish her well in her future endeavors.

I am excited about the opportunity to work with the Chembio team because they have an advanced point-of-care technology and a tremendous opportunity to provide value across decentralized settings in the healthcare landscape, said Mr. Bespalko. I am thrilled to join an organization whose mission aligns with my background, focused on expanding and scaling operations to enable greater access to diagnostic testing.

About the DPP Rapid Test PlatformChembios proprietary DPP technology platform provides high-quality, rapid diagnostic results in 15 to 20 minutes using a small drop of blood from the fingertip or alternative samples. Through advanced multiplexing, the DPP platform can detect up to eight, distinct test results from a single patient sample, delivering greater clinical value than other rapid tests. For certain applications, Chembios easy-to-use, highly portable, battery-operated DPP Micro Reader optical analyzer then reports accurate results in approximately 15 seconds, making it well-suited for decentralized testing where real-time results enable patients to be clinically assessed while they are still on-site. Objective results produced by the DPP Micro Reader reduce the possibility of the types of human error that can be experienced in the visual interpretations required by many rapid tests.

Chembios portfolio of DPP-based point-of-care tests with FDA regulatory approvals include the DPP HIV-Syphilis System (PMA approved), DPP HIV 1/2 Assay (PMA approved and CLIA waived), DPP Zika IgM System (510(k)), and DPP Ebola Antigen System (EUA). Additionally, DPP-based tests have received regulatory approvals from the World Health Organization, CE-Mark, Agncia Nacional de Vigilncia Sanitria (ANVISA), and other global organizations, where they aid in the detection and diagnosis of several other critical diseases and conditions.

All DPP tests are developed and manufactured in the United States and are the subject of a range of domestic and global patents and patents pending.

About Chembio DiagnosticsChembio is a leading point-of-care diagnostics company focused on detecting and diagnosing infectious diseases, including COVID-19, sexually transmitted disease, and fever and tropical disease. Coupled with Chembios extensive scientific expertise, its novel DPP technology offers broad market applications beyond infectious disease. Chembios products are sold globally, directly and through distributors, to hospitals and clinics, physician offices, clinical laboratories, public health organizations, government agencies, and consumers. Learn more at www.chembio.com.

DPP is Chembios registered trademark, and the Chembio logo is Chembios trademark. For convenience, these trademarks appear in this release without or symbols, but that practice does not mean that Chembio will not assert, to the fullest extent under applicable law, its rights to the trademark.

Contact:Philip TaylorGilmartin Group(415) 937-5406investor@chembio.com