Avellino Labs Named 2015 Technology Pioneer by World Economic Forum

The Avellino DNA Test Recognized as Transformative Global Health Technology

MENLO PARK, Calif., Aug. 5, 2015 /CNW/ -- Avellino Labs (http://www.avellinolab.com/us/), the global leader in genetic testing for eye care, announced today that the World Economic Forum (WEF) has recognized it as a 2015 Technology Pioneer (http://www.weforum.org/techpioneers). Avellino Labs is one of 49 companies selected based on its unique story and potential to transform and impact global health.

"We are honored to be named a 2015 Technology Pioneer by the World Economic Forum for Avellino's breakthrough DNA test technology," said Gene Lee, chairman and founder of Avellino Labs. "In 2008 our team set out to develop and deliver a rapid, accurate, and affordable genetic test to improve eye care safety, and we are pleased to be recognized today for our accomplishments."

Avellino Labs was chosen by a professional jury among hundreds of candidates as one of the 49 selected companies. Thanks to its selection, it will have access to the most influential and sought-after business and political network in the world, and be invited to the World Economic Forum's "Summer Davos" in Dalian, China, this September, or the Annual Meeting in Davos in January.

"We're glad to see Avellino Labs make it to the selection," says Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum. "Avellino Labs is part of a group of entrepreneurial companies that are more aware of the crucial challenges of the world around them, and that are determined to do their part to solve those challenges with their company."

"Since it was first introduced a few years ago, the Avellino DNA Test has identified hundreds of patients around the world with GCD1 and GCD2, and prevented vision loss in those that would have otherwise proceeded with keratorefractive surgery. The best genetic screening tools, like Avellino's DNA test, look for specific defects associated with known conditions and yield insights that help physicians make good, fully informed choices about their patients' medical care. I look forward to what this innovative company will develop and bring to the eye care market in the years to come," commented Anthony Aldave, MD, Chief of the Cornea and Uveitis Division at the Jules Stein Eye Institute, UCLA.

"Avellino Labs has developed technology, validated in large cohort clinical trials, to detect the gene mutations associated with Avellino and similar corneal dystrophies. As a result, many patients seeking laser vision correction have been protected from vision loss demonstrating how Avellino's technology has had a positive impact on human lives. The company should be proud to be selected as a Technology Pioneer by the World Economic Forum as their innovative technology and successful business model have contributed to humanity and exemplify the 'Creative Economy' of South Korea," commented Sang Yup Lee PhD, Distinguished Professor at the Department of Chemical and Biomolecular Engineering, KAIST in Daejeon, South Korea.

John Marshall, PhD FMedSci, Director of The Institute of Ophthalmology in association with Moorfields Eye Hospital, London and a world recognized leader in transformational vision sciences, commented, "I am delighted at the selection of Avellino Labs by the World Economic Forum as a 2015 Technology Pioneer. Advances in human genomics are enabling the development and adoption of more personalized medical care in many areas of medical science. The recognition of Avellino Labs, now delivering its first commercial product, as the prime mover in DNA testing for eye care has set the standard for the industry. They are to be congratulated as the leading agent in formulating a new level of safety in eye care."

The Technology Pioneers were selected from among hundreds of applicants by a selection committee of 68 academics, entrepreneurs, venture capitalists and corporate executives. Notable members of the committee include Arianna Huffington (founder, Huffington Post) and Henry Blodget (editor-in-chief, Business Insider). The committee based its decisions on criteria including innovation, potential impact, working prototype, viability and leadership.

Past recipients include Google (2001), Wikimedia (2007), Mozilla (2007), Kickstarter (2011) and Dropbox (2011). More information on past winners can be found here.

About Avellino Labs
Avellino Labs has developed the first and only commercially available testing system, the DNA Test for LASIK and Refractive Surgery Safety, for Granular Corneal Dystrophy type 1 (GCD1) and Granular Corneal Dystrophy type 2 (GCD2), also known as Avellino Corneal Dystrophy (ACD). The company's proprietary genetic diagnostics system provides fast, safe and affordable evaluations of an individual's genetic predisposition to GCD1 and/or GCD2. With the Avellino DNA Test, Avellino Labs is able to positively identify, with high accuracy, a patient's GCD status. Based on the test's results, patients and their physician can make an informed decision when considering vision correction surgery.

About World Economic Forum
The World Economic Forum is an international institution committed to improving the state of the world through public-private cooperation in the spirit of global citizenship. It engages with business, political, academic and other leaders of society to shape global, regional and industry agendas. Incorporated as a not-for-profit foundation in 1971 and headquartered in Geneva, Switzerland, the Forum is independent, impartial and not tied to any interests. It cooperates closely with all leading international organizations (www.weforum.org).

For more information, please contact Scott Korney, COO, Avellino Labs, at scott@avellinolab.com or +1 650 396 3741 and Peter Vanham, Media Lead, Technology Pioneers, at peter.vanham@weforum.org or +41 79 620 91 29.

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