#USA #Fremont, California #Leadership Team #Alamar Biosciences #T. Rowe Price

Alamar Biosciences Expands Leadership and Raises Capital

Alamar Biosciences, Inc. ("Alamar"), a leader in precision proteomics focused on advancing early disease detection, has announced a significant milestone in its trajectory. The company reported that investor demand for its recently issued convertible bonds surpassed the supply, culminating in over $50 million in new capital raised. Noteworthy participants in this financing round include T. Rowe Price Investment Management, Inc. and Braidwell LP, alongside existing backers like Illumina Ventures and Sands Capital. This funding is set to facilitate further commercial development of Alamar's innovative precision proteomics platform.

Investor Confidence and Strategic Plans

Dr. Yuling Luo, Alamar’s founder, chairman, and CEO, expressed profound gratitude for the continued support from existing investors while welcoming new financial collaborators. He stated, "Their trust in our vision and strategy underscores the transformative potential of our work. This investment will enable us to accelerate innovations and expand the reach of our platform, fully harnessing the potential of precision medicine and early disease detection."

As part of its ambitious growth strategy, Alamar also announced crucial expansions in its leadership team and board of directors, essential for supporting the company's operational excellence and future advancements.

Leadership Appointments

Dr. Stephen Williams joins Alamar as Chief Scientific Officer, bringing over three decades of expertise in precision medicine and biomarker innovation. Previously, he served as Chief Medical Officer at Standard BioTools and SomaLogic, as well as holding senior positions at Pfizer for 18 years. His extensive work has influenced notable initiatives within the scientific community, including neuroimaging for Alzheimer’s disease and the FDA-FNIH-PhRMA Biomarker Consortium.

To strengthen the board, Alamar appointed Rebecca Chambers, current CFO of Veracyte, who offers valuable experience gained across various leading health-related positions at companies such as Illumina and Myriad Genetics. Additionally, Dr. Frank Witney, a seasoned executive partner at Ampersand Capital Partners and former CEO of Affymetrix, rounds out the new board appointments.

Importance of These Changes

Dr. Luo remarked on the importance of these appointments: "I am immensely pleased to welcome Steve to our leadership team, along with Rebecca and Frank to our board. Their deep expertise and diverse perspectives are invaluable as we drive forward our mission to unleash the potential of our precision proteomics platform, ultimately making a considerable impact on health and disease outcomes. This marks an exciting moment for Alamar, and we look forward to the innovations and growth their leadership will inspire."

About Alamar Biosciences, Inc.

Alamar Biosciences is a private life sciences company committed to developing precision proteomics technologies that allow for early disease detection. Utilizing proprietary NULISA™ technology and the ARGO™ HT system, Alamar aims to offer extraordinarily high sensitivity and resolve key limitations of current technologies to ensure accurate proteomics. For additional details, visit alamarbio.com.