iSpecimen Appoints Yuying Liang as CFO and Unveils Strategic Initiatives for 2025

On December 13, 2024, iSpecimen Inc. (NASDAQ: ISPC) announced the appointment of Mr. Yuying Liang, CPA, as Chief Financial Officer (CFO) of the Company, effective immediately. The appointment follows an engagement letter dated December 13, 2024, between the Company and Yuying Liang Professional Corp., a Canadian corporation wholly owned by Mr. Liang. Under this agreement, Yuying Liang Professional Corp. will provide bookkeeping, accounting, financial reporting, and CFO services to iSpecimen.

The engagement outlines a monthly fee of $25,000 USD, in addition to applicable taxes and certain expenses. It includes provisions for termination by either party with 60 days’ written notice, as well as standard terms like limitations of liability and disbursement provisions.

Mr. Liang, a certified public accountant, brings extensive experience in corporate accounting, financial reporting, and CFO services, having worked with a variety of public and private sector companies.

Furthermore, there are no familial relationships between Mr. Liang and any of iSpecimen’s directors or executive officers, and no related party transactions necessitating disclosure under Item 404(a) of Regulation S-K were identified.

In other developments, on December 20, 2024, iSpecimen issued a press release outlining its strategic initiatives for 2025. The focus will revolve around enhancing its support for cancer research by procuring high-demand cancer biospecimens. The Company plans to leverage partnerships to access genomic sequencing capabilities and adopt a data-driven approach to meet the growing demand.

To achieve these objectives, iSpecimen intends to establish new partnerships with U.S.-based cancer centers and initiate a referral program with an international genomic sequencing partner. This move underscores the Company’s commitment to providing holistic solutions for cancer research requirements.

Prospective collections will benefit from iSpecimen’s data-driven approach in assessing suppliers’ capabilities and pricing, offering swift and competitive quotes. Additionally, the Company will broaden its portfolio with newly sourced remnant biofluid cancer offerings from partner sites, facilitating cost-effective samples with diagnostic codes for target discovery and validation.

For further details on iSpecimen’s strategic initiatives or financials, refer to the press release dated December 20, 2024, available as Exhibit 99.1 in the Current Report on Form 8-K submitted to the Securities and Exchange Commission.

About iSpecimen Inc.
iSpecimen Inc. (NASDAQ: ISPC) operates an innovative marketplace connecting life science researchers with healthcare providers to access premium biospecimens. Leveraging cutting-edge technology and a vast network, iSpecimen streamlines the procurement process, accelerating medical breakthroughs and advancing global healthcare standards.

Please note that this news article may include forward-looking statements concerning the company’s strategies and market opportunities, which are subject to risks and uncertainties. For a detailed analysis of these risks, it is advised to consult iSpecimen’s filings with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read iSpecimen’s 8K filing here.

iSpecimen Company Profile

iSpecimen Inc provides technology that connects life science researchers who need human biofluids, tissues, and living cells for their research with biospecimens available in healthcare provider organizations worldwide. Its cloud-based technology enables scientists to search for specimens and patients across a network of hospitals, clinics, private practice groups, laboratories, blood centers, biobanks, clinical research sites, and cadaveric donation centers.