Precipio and Transgenomic Announce Experts from Yale and Harvard Joining New Scientific Advisory Board to Support Merged Company’s Growth Initiatives

Distinguished Experts in Disease Diagnosis and Diagnostics Technology
Bring World Class Scientific Acumen and Insight to Help Guide the New
Merged Company’s Expansion and Growth

Other Recent Pre-Merger Developments Include EPO Decision to Grant
Patent Protection in Europe for Transgenomic’s Multiplexed ICE COLD-PCR
and Completion of Reverse Stock Split

NEW HAVEN, Conn. & OMAHA, Neb.–(BUSINESS WIRE)–Precipio Diagnostics and Transgenomic, Inc. (OTCQB: TBIOD) today
announced the formation of a new Scientific Advisory Board (SAB) in
anticipation of their previously disclosed merger. The new SAB, which
will become effective on the closing of the merger, is being established
to provide scientific and technical guidance and expertise to the
combined company’s management and board of directors in support of
current and future business initiatives. SAB members include Dr. Jeffrey
Sklar of the Yale University School of Medicine, Dr. Mike Makrigiorgos
of Harvard Medical School and the Dana-Farber Cancer Institute, and Dr.
Gil Mor of the Yale University School of Medicine.

SAB Chair Jeffrey Sklar, MD, PhD, is a Professor of Pathology and
Laboratory Medicine and Director of the Molecular Diagnostics Research
Program at the Yale School of Medicine. He is a pioneer in the field of
molecular diagnostics and is responsible for many innovations and
discoveries related to cancer diagnostics. Dr. Sklar has also served as
a scientific advisor and director at a number of biotechnology
companies. He received his MD and PhD degrees from Yale and completed a
residency in pathology and a post-doctoral fellowship at Stanford
University, where he also served as an Associate Professor. Previously,
Dr. Sklar was a Professor of Pathology at Harvard Medical School.

“The Precipio model provides significant value to all constituents, by
facilitating the interaction between academic institutions, physicians
and their patients, to deliver much needed quality diagnostics,” said
Dr. Sklar. “Academia has a tremendous wealth of knowledge and expertise
and is also in the forefront of developing advanced technologies,
particularly in the area of molecular diagnostics. Precipio has
demonstrated successfully its ability to capitalize on those strengths
and deliver them to the market in an efficient manner. I look forward to
working with the management team and the board to help advance the
company’s mission.”

Mike Makrigiorgos, PhD, is Professor at Harvard Medical School and the
Dana-Farber Cancer Institute. Among his many discoveries, Dr.
Makrigiorgos is the inventor of the ICE COLD-PCR (ICP) technology
licensed exclusively to Transgenomic. ICP is an ultra-high sensitivity
DNA amplification technology that enables accurate detection of genetic
mutations from either tissue or non-invasive patient samples such as
blood or urine. Dr. Makrigiorgos will advise on scientific and technical
issues to enhance the company’s strategy for the further adoption of ICP
in the liquid biopsy market, as well as its use in medical applications
beyond cancer. Dr. Makrigiorgos holds a PhD in medical physics from the
University of Leeds in the UK and completed post-doctoral training at
Harvard Medical School.

“I am happy to join Precipio’s Scientific Advisory Board and help the
company further develop ICE-COLD PCR, a technology we originally
developed at Dana-Farber,” said Dr. Makrigiorgos. “I believe Precipio
will be able to play a significant role in the liquid biopsy field by
offering tests that balance the clinically meaningful information
obtained with the cost and effort involved.”

Gil Mor, MD, PhD, is Professor of Obstetrics, Gynecology and
Reproductive Sciences and Director of the Division of Reproductive
Sciences at the Yale School of Medicine. He also serves as Director of
the Reproductive Immunology Unit and the Discovery to Cure translational
research program. Dr. Mor will be assisting the company in exploring the
application of ICP and other diagnostic technologies in conditions
outside the cancer field. Professor Mor earned MS and MD degrees from
the Hebrew University and a PhD from the Weizmann Institute of Science
in Israel.

“I believe ICP may have broad applications beyond the important role it
plays in the liquid biopsy cancer market, and I am excited to help the
company explore some of those applications,” said Professor Mor. “The
company’s platform provides a tremendous and unique opportunity to
leverage scientific expertise within academia and to commercialize it in
a meaningful way.”

Ilan Danieli, CEO of Precipio Diagnostics, said, “The key to a company’s
success lies not only in its vision and products but also with the team
that will execute on the vision. The new members of our Scientific
Advisory Board add deep and diverse scientific expertise to complement
the skills of our management team and our incoming board of directors.
With their help we will be refining our strategy for existing markets,
as well as evaluating new markets to grow our business. I am delighted
to have these prominent scientific experts as part of our team.”

Earlier this week, Transgenomic reported that the European Patent Office
(EPO) has indicated its intention to grant patent
protection in Europe
for the Multiplexed ICE COLD-PCR technology
exclusively licensed to the Transgenomic.

Paul Kinnon, President and CEO of Transgenomic, commented, “The new SAB
members from Yale and Harvard bring outstanding scientific knowledge and
insight to the combined company. The recent news that the EPO has
indicated its intention to grant a patent covering Multiplexed ICE
COLD-PCR in Europe reinforces our belief that ICP has the potential to
be both a commercial success and a transformative genomics technology
for cancer and other conditions, as the utility of liquid biopsies
drives wide use and precision medicine increasingly becomes the norm. It
is tremendous to have Mike Makrigiorgos, the father of ICP, on board,
along with the deep expertise and varied perspectives of Dr. Sklar and
Dr. Mor, both highly respected researchers and practitioners with a
wealth of relevant experience.”

Separately, Transgenomic reported that the previously-approved reverse
split of its stock has been implemented and that its shares are trading
under the temporary symbol TBIOD.

About Transgenomic

Transgenomic,
Inc.
is a global biotechnology company advancing personalized
medicine in oncology and inherited diseases through advanced diagnostic
technologies, such as its revolutionary ICE COLD-PCR, which enables use
of liquid biopsies for mutation detection. The company also provides
specialized clinical and research services to biopharmaceutical
companies developing targeted therapies. Transgenomic’s diagnostic
technologies are designed to improve medical diagnoses and patient
outcomes.

About Precipio Diagnostics

Precipio Diagnostics has built a platform to harness the intellect,
expertise and technology developed within academia, delivering quality
diagnostic information to physicians and patients worldwide. Through its
collaborations with world-class academic institutions specializing in
cancer research, diagnostics and treatment, and its experience
delivering quality service, Precipio Diagnostics offers a new standard
of diagnostic accuracy enabling the highest level of patient care. For
more information, visit precipiodx.com.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking
statements,” which involve known and unknown risks, uncertainties and
other factors that may cause actual results to be materially different
from any future results, performance or achievements expressed or
implied by such statements. Forward-looking statements include, but are
not limited to, those with respect to management’s current views and
estimates of future economic circumstances, industry conditions, company
performance and financial results, including the ability of the Company
to grow its involvement in the diagnostic products and services markets,
expectations regarding new clients, projects and prospects, and ICP’s
ability to accelerate the Company’s growth and generate revenue. The
known risks, uncertainties and other factors affecting these
forward-looking statements are described from time to time in
Transgenomic’s filings with the Securities and Exchange Commission. Any
change in such factors, risks and uncertainties may cause the actual
results, events and performance to differ materially from those referred
to in such statements. All information in this press release is as of
the date of the release and Transgenomic does not undertake any duty to
update this information, including any forward-looking statements,
unless required by law.

Contacts

Transgenomic
Media
BLL Partners
Barbara
Lindheim, 212-584-2276
or
blindheim@bllbiopartners.com
Investors
Transgenomic
Investor Relations
investor.relations@transgenomic.com