Tethys Bioscience Announces Personnel Additions and Promotions
Management Team in Position for Full Commercialization of its Line of Personalized-Prevention Diagnostics\
EMERYVILLE, Calif.--(BUSINESS WIRE)--Tethys Bioscience, Inc. announced today that former Chief Business Officer Michael Richey has been promoted to President, and that several key executives have joined the company's management team.
In the last twelve months the company has launched its first commercial product - the PreDxTM Diabetes Risk Score - and has more than doubled in size, including the addition of experienced industry executives to help guide the company's momentum forward.
"As we continue to grow our company and our business of developing and commercializing high-value, biomarker-based diagnostic products, we are adding seasoned leaders to our team," said Mickey Urdea, company CEO. "These are individuals who will play prominent roles as we evolve into a fully integrated commercial entity."
Eric Book, M.D. has joined the company as Chief Medical Officer (CMO), overseeing the company's medical affairs, including clinical studies, scientific publications and payer strategies and regulatory affairs. Eric comes to Tethys from Blue Shield of California, where he was Senior Vice President and CMO. Dr. Book is a seasoned healthcare practitioner and executive with an extensive understanding of the steps to product reimbursement by healthcare insurers.
Brian Best, Tethys Vice President of Commercial Operations, is leading the company's global commercialization efforts. Brian has 17 years of industry experience including product and business development, medical affairs, marketing and sales at Medicure Pharma, PDL Biopharma, Arginox, Millennium Pharmaceuticals and COR Therapeutics. Brian was also a consultant to the American College of Cardiology.
Ted Tarasow, newly named Vice President of Product Development and Laboratory Operations, has assumed responsibility for general laboratory operations in both the company's Emeryville and West Sacramento locations. Ted will oversee supply chain, product development, laboratory operations, and advanced technology programs at the company. In his more than 15 years experience as a research scientist, Ted has been a consultant to a number of biotechnology and pharmaceutical companies, was Director of the Biosecurity and Nanosciences Laboratory at Lawrence Livermore National Lab and was founder and Chief Scientific Officer of Invenux, Inc.
These three senior executives report directly to newly named President Michael Richey, who has been with the company since its founding in 2005, and previously served as Chief Business Officer. Mickey Urdea will retain his position as CEO of the company.
"Mike and I have worked together for over a decade and he has brought a wealth of diagnostics business experience and leadership to Tethys. I am confident that he, along with our seasoned management team, will continue to guide the company's future growth and prosperity."
Tethys also announced that, in September, Mohan S. Iyer will fill Mr. Richey's former role as Chief Business Officer. Mohan comes to Tethys from Burrill & Company's Merchant Bank, where he served as Managing Director of Healthcare Investment Banking. His previous positions have also included Executive Vice President of Corporate and Business Development at South San Francisco's diaDexus, Inc., Senior Consultant to life science industry companies with The Wilkerson Group/IBM Healthcare Consulting, and a number of manufacturing and capital projects management roles at Genentech. Mohan received his Master of Science degree in Biomedical Engineering from Duke University, and his MBA from Yale University. Reporting to Mickey Urdea, Mohan joins the Tethys Management Team.
About Tethys Bioscience
Tethys Bioscience is a predictive personalized medicine company developing novel tests which address the growing global healthcare challenge of chronic diseases such as diabetes. Founded in 2005, the company integrates an experienced management team, innovative research based on sound science, a CLIA-certified clinical laboratory, and a commercialization team with extensive experience in diagnostic innovation. Our partnerships with world class researchers and our solid financial foundation will enable Tethys to help transform the management of chronic diseases by providing personalized, preventive solutions that aid every constituency: patients, doctors and the healthcare system as a whole. For more information, visit www.tethysbio.com.
About the PreDxTM Diabetes Risk Score
Tethys announced the expanded availability of its first predictive, personalized test - the PreDx Diabetes Risk Score - in June 2008. The PreDx Diabetes Risk Score (DRS) is a first-of-its-kind predictive tool that delivers an accurate assessment of an individual's risk of developing Type 2 diabetes within the next five years. The test is performed exclusively by the Tethys Bioscience Clinical Laboratory on routinely collected blood samples.
The new blood test is designed to help physicians identify patients at highest risk of developing Type 2 diabetes. The PreDx DRS is a quantitative in-vitro diagnostic test intended to aid in the assessment of a patient's risk for developing Type 2 diabetes within five years. This test is offered as a service by the CLIA-certified Tethys Clinical Laboratory and is performed on a fasting blood sample from patients at risk for diabetes. Risk factors include increased age, BMI, family history, hypertension, dysglycemia and dyslipidemia. The information provided by the PreDx DRS may be used by the physician in conjunction with other clinical indicators to develop an effective diabetes prevention program. The PreDx DRS is indicated for use as an adjunctive test to complement, not replace, other diagnostic and clinical procedures.
The PreDx DRS is not intended for the diagnosis of diabetes nor should it be used as the sole source of information when managing patients at risk of developing diabetes.