IRVINE, Calif., May 17, 2018 /PRNewswire/ -- Laboratory for Advanced Medicine (LAM), a clinical-stage medical technology company focused on developing innovative technologies for the early diagnosis and intervention of cancers, today announced that the Company has appointed Richard Brand as its Chief Financial Officer, effective immediately. Mr. Brand has more than 30 years of financial experience, including extensive expertise with life sciences and biotech companies.
"As LAM recently launched our groundbreaking new IvyGene test for the early diagnosis and detection of cancers, now is the perfect time for Richard to join our team and lead our financing activities," said Dr. Shu Li, LAM's Chairman. "Richard is the right fit for LAM given his deep investor experience, strong operational skills, product launch knowledge and deep relationships across the capital markets. We look forward to working with him as LAM enters a pivotal stage in its history and evolution."
Mr. Brand joins LAM from BeyondSpring, where he served as Chief Financial Officer during the period in which it listed on Nasdaq and became one of the best-performing biotech IPOs of 2017. He also assisted in the company's commercialization efforts and was responsible for securing new institutional investors, equity research coverage and investment banking relationships. Prior to BeyondSpring, he served as Acting CFO at KenCast, where he raised the company's first external capital. Over the years, Mr. Brand has also served in a variety of other roles with increasing importance at Prospect Capital, Robertson Stephens, Deutsche Bank and Merrill Lynch.
"LAM is in the advanced stage of developing molecular tests to detect cancers early from a blood draw, which can contribute significantly to current patient management—especially since the 10-year survival rate is 90 percent for people whose cancers are detected in stage one, but only 5 percent when detected in stage four," added Brand. "LAM's CLIA laboratories are in commercial service with the Company's DNA methylation test. The Company also continues to prepare its clinical trial for U.S. FDA Premarket Approval, with the potential to sell test kits to other companies to be used at other clinical labs. As LAM is a leader in the detection of DNA methylation profiles associated with cancers, I welcome the opportunity to become a part of this important effort and help to drive results as a member of the senior leadership. I hope to be a key asset to the Company's strategic and financial initiatives in 2018 and beyond."
Mr. Brand holds a Bachelor of Arts in both economics and English from the University of Iowa and a Master of Business Administration in finance from the University of Chicago.
About Laboratory for Advanced Medicine
LAM is a clinical-stage medical technology company focused on developing innovative, non-invasive, nontoxic technologies for the early diagnosis and intervention of cancers, possibly years before current technology can detect. LAM is dedicated to building and growing world-class technologies from the laboratory to the clinic. LAM operates scientifically, ethically and efficiently to bring these technologies into the mainstream.
LAM is headquartered in the United States with offices in California, Texas and Indiana. LAM is a multi-national business with collaborations in both the U.S. and China, including leading scientists, physicians, research institutions and business leaders. LAM strives to combine the experiences of these innovators and achievers to provide the most effective and safest diagnostic technologies to everyone.
LAM has CLIA-registered and CAP-accredited laboratories, third-party laboratories and cGMP facilities all working toward the endeavor of bringing these first-class technologies into the medical community.
SOURCE Laboratory for Advanced Medicine