BIOQUAL Announces Changes to Board of Directors

BIOQUAL, Inc. www.bioqual.com BIOQ(Pinksheets)

BIOQUAL, Inc., announced today that Mr. Charles Francisco retired from his role as a BIOQUAL Board Member effective December 31, 2024. Mr. Francisco is 85 years old and has served as a director since 1992. His retirement is not connected to any disagreements with the Board’s policies or practices.

Additionally, on December 31, 2024 BIOQUAL welcomed Ms. Amy Johnston to the BIOQUAL Board of Directors. Ms. Johnston will replace Mr. Francisco on the Board, thus, the number of directors will not change. Ms. Johnston has been working with and managing companies in the healthcare and biotech industries for over thirty years. She holds a Bachelor of Arts in Government and English (dual degree) and a Master of Arts degree in Secondary English Education from the College of William and Mary in Virginia. Among her career accomplishments:

• Led cross-functional teams to build commercial biotech teams and strategies while ensuring compliance with FDA regulations,
• Provided critical support in pre-launch and post-launch efforts for a Hepatitis C compound, achieving $1B in sales in the first year on the commercial market,
• Collaborated with media and advertising agencies, managed market teams, Key Opinion Leaders, and patient advocacy groups to educate both the medical community and the patients,
• By revising the strategy and operating model of a design/build employee-owned utility company, Amy and her business partner increased revenue from $10 million to $25 million even during the economically unstable period of the pandemic. Amy led the team that successfully valued and negotiated the sale of her interest in the company in 2022.

Forward Looking Information

Statements herein that are not descriptions of historical facts are forward-looking and subject to risks and uncertainties. The forward-looking statements are neither promises nor guarantees, and one should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including risks relating to the ability to continue to extend current government contracts; the Company’s ability to obtain new government or commercial contracts; continued demand for the use of animal models in scientific research; the Company’s ability to obtain sufficient numbers of animal models; the availability of adequate numbers of employees; the Company’s ability to perform under its contracts in accordance with the requirements of the contracts; the actual costs incurred in performing the Company’s contracts and its ability to manage its costs, including its capital expenditures; dependence on third parties; future capital needs; the ability to fund its capital needs through the use of its cash on hand and line of credit; and the future availability and cost of financing/capital sources to the Company.

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