Palm Beach, FL –January 30, 2024 – FN Media Group News Commentary – Recent reports show that the Multiple myeloma Diagnostic market will continue to grow in the next several years. Multiple myeloma is a type of plasma cell cancer. Normal plasma cells are recognized as an important component of the immune system. The immune system is made up of various types of cells that work together to fight infections and other diseases. The main types of white blood cells in the immune system are lymphocytes (lymph cells) such as T-cells and B-cells. Multiple myeloma develops when these plasma cells become cancerous in nature and grow abnormally. A report from Data Bridge Market Research said that the North American multiple myeloma diagnostic market which was USD 3732.64 million in 2022, is expected to reach USD 5390.01 million by 2030, at a CAGR of 4.7% during the forecast period 2023 to 2030. The report said: “The main factors driving the market growth of the multiple myeloma diagnostics market are technological advancement and rising clinical studies for the management of multiple myeloma. Furthermore, rising disposable income is expected to drive the growth of the multiple myeloma diagnostic market. Government funds and initiatives for effective research and development are assisting in the discovery of new drugs for better treatment of multiple myeloma for the multiple myeloma diagnostic market. The rising prevalence of multiple myeloma is driving up demand for treatment. According to GLOBOCAN 2020 statistics… The increasing number of R&D projects to develop novel treatments for multiple myeloma is driving market growth… Such developments will also contribute to market growth.” Active companies in the markets this week include: Telo Genomics Corp. (OTCQB: TDSGF) (TSXV: TELO), Bristol Myers Squibb (NYSE: BMY), Thermo Fisher Scientific Inc. (NYSE: TMO), Natera, Inc. (NASDAQ: NTRA), NeoGenomics, Inc. (NASDAQ: NEO).
Data Bridge Market Research continued: “The major factors driving market growth are strategic initiatives undertaken by market participants, increasing R&D, the growing burden of multiple myeloma, and the proven efficacy of immunomodulators… Thus, due to the above-mentioned factors, the market is expected to witness significant growth during the forecast period. U.S. dominates the multiple myeloma diagnostic market because of the favorable reimbursement policies in the region and will expect to show lucrative growth during the forecast period of 2023-2030.”
Telo Genomics Corp. (OTCQB: TDSGF) (TSXV: TELO) Engages US Diagnostics Experts to Power Product Adoption in the US – Telo Genomics Corp. (the “Company” or “Telo”) is pleased to announce that it has engaged Trusted Health Advisors (THA), a market leader specialized in guiding commercialization programs of innovative diagnostics products in the USA. THA will work with Telo’s team to refine and accelerate Telo’s go-to-market and partnership deployment plan, to facilitate the implementation of Telo’s biomarker services for basic and clinical research and clinical diagnostic applications in Multiple Myeloma and the broader cancer field. The program will include partnerships and collaborations with basic and clinical researchers, Biopharmaceutical companies, Clinical Research Organizations (CROs), clinical laboratories and oncology providers and healthcare systems.
THA’s engagement with Telo will be led by veterans in the diagnostics industry including: Jay Wohlgemuth, MD; Ray Tabibiazar, MD; Richard Bender, MD; and Mr. Paul Owen. The team will also draw on the expertise of additional THA partners (www.trustedhealthadvisors.us).
Dr. Wohlgemuth has many years of experience leading healthcare innovation efforts in diagnostic testing, medical devices, virtual care and digital health, and pharmaceutical and companion diagnostics development. Dr. Wohlgemuth served as CMO, CSO and SVP for Quest Diagnostics over a period of 14 years. He also served as CMO of HealthTap, as well as development team leader at Genentech / Roche for Ocrelizumab (Ocrevus) in multiple sclerosis and rheumatology, and as director of diagnostics for programs outside of oncology. Dr. Wohlgemuth was co-founder, CMO and VP R&D for CareDx, a leader in testing for transplant patients, for which he was awarded Technology Pioneer 2005 at the World Economic Forum in Davos. He also served as Chairman of the Board of the Personalized Medicine Coalition.
Dr. Tabibiazar is a seasoned executive with leadership experience in the healthcare and biopharma industries, including venture capital, pharmaceuticals and diagnostics. As a clinician-entrepreneur and managing director of “526 Ventures”, he has focused on creating new ventures in the form of new companies or spinouts to translate innovative science into commercially viable products. Dr. Tabibiazar serves as Chair at SalioGen Therapeutics, and previously led Aravive Biologics as CEO, served as SVP, Corporate Development and Business Strategy at Twist Bioscience, and as a Venture Partner at Bay City Capital.
Dr. Bender is a board-certified oncologist who brings more than 40 years of experience in hematological malignancy with a special focus on multiple myeloma (“MM”). He received his medical degree from the UCLA School of Medicine and completed his internship and residency at UCLA-Harbor General Hospital followed by a hematology/oncology fellowship at the National Cancer Institute. His past titles include Medical Director for Hematology/Oncology for Quest Diagnostics, Medical Director for Hematology/Oncology for Kaiser Permanente, and Chief Medical Officer for both Agendia and Signal Genetics. Dr. Bender has also served on the executive board of the American Cancer Society and has been retained by the FDA as a member of the Hematology and Pathology Devices Advisory Committee. He has authored more than 80 peer-reviewed scientific articles and book chapters.
Mr. Owen most recently served as President and Interim CEO of imaware™, which provides a digital health platform experience that offers advanced home-based testing and monitoring. Mr. Owen has had a very productive and successful career in developing and bringing healthcare innovation to market. He previously served as Chief Business Officer and COO for Kailos Genetics and CEO of OneOme, an innovator in precision medicine and pharmacogenetics, co-founded by the Mayo Clinic. Prior to joining OneOme Paul led global commercialization for Invitae, a leader in diagnostics testing. Previously, Mr. Owen served as Vice Chair of Global Business Development for the Mayo Clinic and was the leader of Mayo Medical Laboratories’ global commercial team, and held leadership roles at Zimmer-Biomet and Boston Scientific. CONTINUED… Read this full press release and more news for Telo Genomics at: https://www.telodx.com/investors
Other recent developments in the markets of note include:
Bristol Myers Squibb (NYSE: BMY) recently announced the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended marketing authorization approval of Abecma® (idecabtagene vicleucel; ide-cel) for the treatment of adult patients with relapsed and refractory multiple myeloma who have received at least two prior therapies, including an immunomodulatory agent (IMiD), a proteasome inhibitor (PI), and an anti-CD38 monoclonal antibody. The European Commission (EC), which has the authority to approve medicines for the European Union (EU), will now review the CHMP recommendation.
“This positive CHMP opinion represents an important step toward bringing our potentially transformative first-in-class anti-BCMA CAR T cell therapy, Abecma, to more patients earlier in the multiple myeloma treatment paradigm to improve outcomes,” said Anne Kerber, M.D., senior vice president and head, Late Clinical Development, Hematology, Oncology, Cell Therapy (HOCT), Bristol Myers Squibb. “We look forward to working with the European Commission with the shared goal of delivering innovative treatment options to more patients with continued unmet need.”
Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, recently announced that it will release its financial results for the fourth quarter and full year 2023 before the market opens on Wednesday, January 31, 2024, and will hold a conference call on the same day at 8:30 a.m. EST.
During the call, the company will discuss its financial performance, as well as future expectations. To listen, call (833) 470-1428 within the U.S. or (404) 975-4839 outside the U.S. The access code is 718426. You may also listen to the call live on the “Investors” section of our website, www.thermofisher.com. The earnings press release and related information can also be found in that section of our website under the heading “Financials”. A replay of the call will be available under “News, Events & Presentations” through Friday, February 16, 2024.
Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA testing, recently announced that a jury in the U.S. District Court for the District of Delaware has reached a unanimous verdict in favor of Natera in its patent infringement case against CareDx, Inc.
The jury awarded Natera $83.7 million in lost profits and $12.6 million in past royalties after finding that the accused CareDx products, AlloSure and AlloSeq, infringe one of the two Natera patents asserted against CareDx, and that all asserted claims of both patents are valid on various grounds. The jury also provided an advisory verdict to the judge that all asserted claims of both patents are valid under 35 U.S.C. Sec. 101. A schedule will be set for further proceedings to determine whether CareDx’s future sales of new versions of AlloSeq and AlloSure also infringe the asserted Natera patents.
Previously, Natera successfully invalidated all three of CareDx’s patents that were asserted by CareDx against Natera in a separate lawsuit. The invalidity of CareDx’s patents was affirmed on appeal.
NeoGenomics, Inc. (NASDAQ: NEO), a leading oncology testing services company, recently announced that NeoGenomics Laboratories, Inc., a subsidiary of NeoGenomics Inc., will appeal the preliminary injunction issued by the United States District Court for the Middle District of North Carolina. The initial determination is that Natera, Inc. demonstrated a likelihood that products using RaDaR technology infringe one Natera, Inc. patent. The order specifically allows patients already using RaDaR to continue their use. In addition, the order explicitly allows research projects and studies that are in progress, as well as clinical trials that are in progress or have been approved, to continue.
In response to the court’s ruling, Chris Smith, Chief Executive Officer of NeoGenomics said, “We continue to believe in RaDaR’s innovative and distinguished technology and plan to appeal the Court’s ruling and defend our technology. We remain committed to bringing our highly sensitive test to market and providing cancer patients and their clinicians with options for their care.”
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