Experienced US-based commercial leader joins Biofidelity prior to launch of disruptive cancer diagnostic platform
- US diagnostics executive with more than 25 years of industry commercial experience
- Significant commercial technology and diagnostic product launch expertise
- Track record of successful high-multiple transactions
Cambridge, UK 17 September 2020 – Biofidelity Ltd, the cancer diagnostics company, today announces the appointment of Stephen Miller as Chief Commercial Officer, based in the US. Following Biofidelity’s recent $12m Series A financing, supported by experienced investors BlueYard Capital, Longwall Ventures and Agilent Technologies, the Company is now focused on expanding its executive team, a critical step in its commercial strategy. Stephen’s appointment follows former Roche executive, Heiner Dreismann, joining the Board as Chairman.
Dr Barnaby Balmforth, Chief Executive Officer of Biofidelity, commented: “Biofidelity is at an exciting juncture as we ready our oncology diagnostic platform for launch. We are focused on building the right team of high calibre and renowned industry experts and we are delighted to welcome Stephen to the Company. His diagnostics expertise, commercial experience and industry network will be crucial in the execution of our commercial strategy, particularly in the critical US market. Only a fraction of patients currently have access to the best oncology diagnostics and we believe that our unique diagnostics platform has the potential to revolutionise this access and enable oncologists to provide all patients with the right treatment at the right time.”
Stephen Miller, added: “What attracted me to Biofidelity is the novel diagnostic platform, which I believe has the potential to change the dynamics of cancer diagnosis and treatment. Many oncologists struggle with access to clinically actionable test results. With the Biofidelity platform, laboratories will be able to test for these clinically actionable mutations and provide the results to oncologists in a fraction of the time and at a lower cost compared to current testing technologies. I look forward to working with Barney, Heiner and the rest of the Biofidelity team.”
Stephen joins Biofidelity with more than 25 years of experience in the leadership of high growth diagnostics businesses in the US. He has held significant leadership positions at both public and private companies, including, Precipio Inc., BG Medicine, Thermo Fisher Scientific and Athena Diagnostics. Athena Diagnostics was purchased by Thermo Fisher Scientific for $283m under his commercial leadership and Athena was later purchased by Quest Diagnostics from Thermo Fisher for $740m.
Biofidelity, a private company founded in 2019 in Cambridge, UK, is revolutionising access to best-in-class cancer diagnostics, breaking down the barriers to better screening, monitoring and treatment for all cancer patients.
Its disruptive diagnostic technology platform will provide oncologists with clinically actionable data based on ultra-sensitive detection of markers recommended in cancer treatment guidelines, enabling them to prescribe the right cancer drug at the right time. It is designed to combine fast and easy-to-interpret results with affordability and straightforward adoption on existing laboratory infrastructure, enabling many more laboratories to offer high quality cancer diagnostics.
Biofidelity is initially focusing on diagnosis of non-small cell lung and colorectal cancer, with potential in a broad range of cancers and medium- to long-term applications in the detection of resistance to therapy and disease recurrence.