Neoprobe Names Executive Vice President, Chief Business Officer

DUBLIN, Ohio--(BUSINESS WIRE)--Neoprobe Corporation (NYSE AMEX: NEOP), a diversified developer of innovative diagnostic products, announced today that Thomas Tulip, Ph.D., has joined the company as Executive Vice President and Chief Business Officer. Dr. Tulip has spent more than 25 years in the development and commercialization of radiopharmaceuticals and imaging agents, with a track record of success in R&D, business development, brand and alliance management as well as international business.

“Thom brings a wealth of knowledge and experience leading successful radiopharmaceutical development and commercial efforts which will accelerate our progress in partnering and commercializing our products on a world-wide basis and in expanding our pipeline as we redefine Neoprobe as a leading developer of innovative radiopharmaceutical products”

“Thom brings a wealth of knowledge and experience leading successful radiopharmaceutical development and commercial efforts which will accelerate our progress in partnering and commercializing our products on a world-wide basis and in expanding our pipeline as we redefine Neoprobe as a leading developer of innovative radiopharmaceutical products,” said Dr. Mark Pykett, President and CEO of Neoprobe. “In leading our business development efforts, Thom will leverage his extensive experience and strong industry relationships to maximize the commercial opportunity for Lymphoseek on a global basis, advance our efforts to develop RIGS®, and identify potential partners from whom we can source our next innovative development candidates and diversify and expand our product portfolio. We look forward to working with Thom to define the Neoprobe of the future, based on his experience in business strategy and development.”

Prior to joining Neoprobe, Dr. Tulip held senior leadership positions at Alseres Pharmaceuticals, Lantheus Medical Imaging, Bristol Myers Squibb (BMS) and DuPont, where his roles spanned product discovery and development, business and technology planning, brand and alliance management and international business management. Most recently, as President, Alseres Molecular Imaging, Dr. Tulip led efforts to develop markets for a Phase III neuroimaging agent. While at DuPont and BMS prior to Alseres, he was instrumental in the development, commercialization and international management of the highly successful nuclear cardiology franchise, successfully built the BMS Medical Imaging international business, and led planning activities for innovative PET tracers at Lantheus/BMS .

Dr. Tulip earned a B.S. from the University of Vermont, and an M.S. and Ph.D. from the Northwestern University. He was a visiting scholar at Osaka University and served as adjunct professor at Northeastern University. Tulip serves on the Board of Directors of the Medical Imaging Technology Association (MITA) and leads its PET Working Group in the Molecular Imaging Section. He was recently Chairperson of the Institute for Molecular Technologies (IMT) and held numerous leadership positions there. He served on the Board of the Academy of Molecular Imaging, including as its Treasurer. Tulip was Chairperson for the Society of Nuclear Medicine (SNM) Corporate Advisory Board and has been active in a number of Council on Radionuclides and Radiopharmaceuticals (CORAR) committees, now serving on its Board of Directors.

“I am very enthusiastic about joining the team at Neoprobe during this exciting growth period for the Company. I anticipate working closely with Mark, his team and our Board to accelerate the growth and progress of the business. The opportunities ahead of us developing novel diagnostic approaches for the worldwide medical community are substantial” said Tulip. “I look forward to helping the Company achieve its growing business objectives by expanding our geographic footprint, identifying a broad new set of partners and products for the benefit of our stakeholders, partners and physicians as well as the patients they serve.”

About Neoprobe

Neoprobe is a biomedical company focused on enhancing patient care and improving patient outcome by meeting the critical intraoperative diagnostic information needs of physicians and therapeutic treatment needs of patients. Neoprobe recently announced the sale of its neoprobe® GDS line of gamma detection systems to Devicor Medical Products, Inc. The move was made to allow the Company to focus its efforts on the development of and radiopharmaceutical and related agents such Lymphoseek® and RIGScan™. Neoprobe’s subsidiary, Cira Biosciences, Inc., is also advancing a patient-specific cellular therapy technology platform called ACT. Neoprobe’s strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions. www.neoprobe.com

The Private Securities Litigation Reform Act of 1995 (the Act) provides a safe harbor for forward-looking statements made by or on behalf of the Company. Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company’s plans and strategies, expectations for future financial performance, new and existing products and technologies, anticipated clinical and regulatory pathways, and markets for the Company’s products are forward-looking statements within the meaning of the Act. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company’s continuing operating losses, uncertainty of market acceptance of its products, reliance on third party manufacturers, accumulated deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition, limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed in the Company’s most recent Annual Report on Form 10-K and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements.