CAMBRIDGE, England, August 1, 2016 /PRNewswire/ --
Inivata, a global clinical cancer genomics company employing the precision of circulating tumor DNA (ctDNA) analysis to improve personalized healthcare in oncology, today announces the appointment of Timothy Shannon as Chief Financial Officer. Tim will be based out of Inivata's US Research Triangle Park (RTP) office with global responsibilities for Inivata's financial and operational management.
Tim joins Inivata from Baxano Surgical and Talecris Biotherapeutics, where he formulated and implemented financial controls and process improvements that supported business growth and expansion. His background in technology, life sciences, and distribution environments is particularly relevant as Inivata moves forward towards long-term business planning and commercialization of its InVision® product line. While at Talecris, Tim managed the Initial Public Offering (IPO) at a $3.28 billion valuation and has managed merger and acquisition transactions. Tim also has operational business experience across critical issues including budgeting, investor relations, systems implementation, and risk management.
Michael Stocum, CEO of Inivata, said, "We are delighted to welcome Tim to Inivata as our Chief Financial Officer. His broad financial and operational experience will augment the existing strengths of the management team as we build towards the commercial launch of InVision."
"I'm excited to be joining Inivata as the Company works towards commercialization of its ctDNA platform, InVision, to deliver improved cancer patients outcomes and work with the many committed employees to support business growth," said Tim Shannon, CFO at Inivata. "After an impressive Series A fundraise, I look forward to working closely with the Board, senior management and rest of the team in executing Inivata's strategy and achieving clinical and commercial success."
Inivata recently completed $45 million in Series A round, securing funds for clinical studies and validation of its technology platform for the analysis of ctDNA. Analytical validation, presented in April at AACR, showed its broad molecular profiling as a robust and reproducible method of detecting genomic alterations in ctDNA with stand-out sensitivity and specificity. Inivata's proprietary platform will be applied across a spectrum of solid tumors to provide oncologists with clinically actionable information to stratify patients, monitor treatment progress, and identify emerging tumor resistance.
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Inivata, a clinical cancer genomics company, is employing the precision of ctDNA analysis to improve personalized healthcare in oncology. Using a simple blood test, ctDNA analysis is a new tool for oncologists to detect cancer, stratify patients, and assess individual response to treatment. Inivata's proprietary technology is based on pioneering research from the Rosenfeld Lab at the Cancer Research UK Cambridge Institute (CRUK-CI), University of Cambridge. Inivata's InVision® ctDNA assay provides a highly sensitive analysis of a highly-select gene panel to identify actionable mutations for oncologists to treat their patients optimally. For more information and a full listing of investors, please go to http://www.inivata.com . Follow us on Twitter @Inivata