Press Release


AQUARO BIOSYSTEMS ANNOUNCES NEW ADVISORS
Tom Conzelmann and Ron Frisbie to Assume Roles of Finance Advisor and Operations Advisor, Respectively

February 16, 2017

Ann Arbor, MI: Aquaro Biosystems, an innovator of devices to streamline the histology workflow, announced today that two experienced managers, Tom Conzelmann and Ron Frisbie, have been appointed as company advisors. Mr. Conzelmann will advise the company for all aspects regarding Accounting and Financial Planning, and Mr. Frisbie will advise the company for aspects regarding Operations, Third Party Manufacturing, and Supply Chain.

Mr. Conzelmann has a deep financial management and business leadership background with a strong track record in helping businesses raise capital. He is currently providing consulting services to CytoPherx, Inc., an early stage medical device company that has developed a selective cytopheric device (SCD) to treat and repair acute kidney injuries (AKI). He is helping the company raise capital for its upcoming clinical trial. Most recently, Tom served as CFO of UniFi Equipment Finance, Inc. where he helped guide the company through a strategic growth period leading up to its acquisition by Bank of Ann Arbor. While at UniFi he raised over $100 million in capital in order to fund the company’s lease portfolio growth. In addition, he devised new accounting, budgeting and cash forecasting systems to help manage the business during this strategic period. Previously Mr. Conzelmann was the assistant controller for TSM Leasing, Inc., helping to finance Domino’s Pizza franchisee growth, and prior to that he earned his CPA Certification while working for EY, formerly Ernst and Young.

Mr. Frisbie is a strategic manufacturing operations and supply chain executive with a distinguished career as Executive VP Global Operations for both large public manufacturing corporations and private equity portfolio firms spanning the medical device, automotive and oil & gas sectors. Most recently, Mr. Frisbie was Vice President, Operations NA at Cooper Standard, a $4B Tier 1 supplier of sealing and fuel & brake systems with plants in USA, Mexico and Canada. Previously, he was Executive Vice President, Global Operations at CareFusion (acquired by Becton Dickinson), a $4B medical device manufacturer based in San Diego. In earlier roles, he was Global Vice President, Operations at Smiths Medical, a $1.5B medical device manufacturer based in Mineapolis; Senior Vice President, Manufacturing & Supply Chain at Vetco Gray (acquired by GE); Vice President, Implantable Manufacturing & Supply Chain at Medtronic; and had a 20+ year career with Ford Motor Company and Visteon Corporation, where in his last position as Global Director, Total Value Management.

“Tom and Ron are both based in the Ann Arbor area and have a demonstrated track record in developing, launching, and growing successful products and companies,” said Alberto Elli, Aquaro Biosystems’ CEO. “We are pleased to welcome them as advisors to our team; their experience in finance and operations is impressive and will complement and augment our existing skill set.”

Aquaro Biosystems’ first product, the PaceSetter™ section mounting system, is the first benchtop instrument to automate the last manual step in the histology workflow: the transfer of paraffin-embedded tissue sections directly from microtomes to glass slides. By using a gentle water stream in place of the manual and time-consuming process of transferring sections to slides by hand, the PaceSetter improves histology laboratory efficiency, standardizes section placement, and enhances laboratory ergonomics by making microtomy hands-free.

About Aquaro Biosystems: Aquaro Biosystems is an Ann Arbor, MI-based company that develops user-centric products to streamline the histology workflow. The company is currently working on various histology products that will integrate into its PaceSetter suite. For more information, or to contact us, please visit www.aquarobio.com.

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