Atossa Genetics, Inc. Appoints Robert L. Kelly as President

Company Expands Senior Management Team as It Prepares to Commercialize FDA-Cleared "Pap Smear for Breast Cancer"


SEATTLE, WA--(Marketwire - May 25, 2010) -  Atossa Genetics, Inc., a privately-held healthcare company focused on the development and marketing of leading edge and unique cellular and molecular diagnostic risk assessment products for breast cancer, announced today that Robert L. Kelly has joined the Company as President and a member of the board of directors. He will report to Steven C. Quay, M.D., Ph.D., Chairman and CEO.

Mr. Kelly's background includes senior executive positions at several leading technology companies, including WWEBNET, Inc. (Direct Choice TV), a publicly traded software company, where he shall retain his title of Executive Chairman, working closely with its CEO and executive team. Mr. Kelly has also served as Vice President of Product Development at TV Guide Networks and as President and CEO of CDKnet. Mr. Kelly has served as Director of Sales & Marketing at the Minnesota Supercomputer Center and as Product Marketing Manager at Cray Research. Mr. Kelly's Wall Street background includes serving as a Principal and Director of Crucible Capital Management from 2009 to 2010 and as a financial advisor at Morgan Stanley.

Mr. Kelly is a passionate advocate for breast cancer research who has worked tirelessly with senior executives at the Entertainment Industry Foundation and Revlon to promote breast cancer awareness and research. He earned an MBA in 1980 from the Graduate School of Business Administration, University of Michigan, and a BA in Business Administration and Spanish, Magna cum Laude, from North Park College in 1978. Mr. Kelly holds current Series 24, Series 7 and Series 63 Wall Street licenses. 

"Bob Kelly brings a unique background combining aggressive achievement of revenue and profit growth with extensive capital raising experience," stated Dr. Quay. "His accomplishments as a C-level executive and investment banker, and passion for breast cancer awareness and research, will be of enormous value as we prepare to commercialize our revolutionary, patented, FDA-cleared Mammary Aspirate Specimen Cytology Test ("MASCT System"), a 'Pap smear for breast cancer.' I am delighted to welcome Bob to the Company and look forward to his contributions as we move toward the launch of this important new weapon in the fight against breast cancer."

The MASCT System has been cleared by the FDA for use in the collection of nipple aspirate fluid ("NAF") for cytological testing and in the detection and/or differentiation of normal versus premalignant cells. NAF contains cells from the lining of the milk ducts and the lobules, where more than 90% of all breast cancers originate. The MASCT System has been developed as an adjunct to mammography for women ages 40 to 75, as well as younger women who are at high risk for breast cancer. The MASCT System uses no radiation, is simple, non-invasive, quick, painless, and inexpensive, and can be performed by a nurse or nurse practitioner in a doctor's office during an annual physical exam or at a mammography center at the time of a periodic mammogram. In the U.S. alone, approximately 37 million mammograms are performed each year, representing a multi-billion dollar market opportunity.

"Atossa Genetics is well positioned for success, with an FDA-cleared product, 14 issued patents and additional patents pending, as well as proven technology that has the potential to significantly reduce the incidence of breast cancer, much as the pap smear has done for cervical cancer," commented Mr. Kelly. "The potential to significantly lower the incidence of breast cancer through lifestyle and/or pharmaceutical intervention at pre-cancerous stages as long as eight years in advance of cancer is, in my view, one of the most profound developments in medicine in many years. I am thrilled to be working with Steve and the rest of the team as we move toward commercialization of the MASCT System and advance the development of value-added, second-generation tests that will provide even greater information to patients and their doctors."

For additional information on Atossa Genetics, Inc., the MASCT System, and the latest information on breast cancer research, please visit www.atossagenetics.com.

Contact Information:

Contacts:

Corporate:

Steven C. Quay, M.D., Ph.D.
Chairman and CEO
206-325-6086