Healthcare Industry News: HSMN NewsFeed
News Release - October 19, 2020
Diadem Names Clinical Diagnostics Industry Veteran Paul Kinnon as CEOKinnon Joins to Lead Development and Commercialization of First Minimally Invasive Blood-Based Prognostic Test for Early Alzheimer's Disease
Accessible Early Diagnosis Will Transform Treatment by Enabling Development of Effective Therapeutic Interventions to Slow or Stop Disease Progression
MILAN, Oct. 19, 2020 -- (Healthcare Sales & Marketing Network) -- Diadem srl, a company developing the first blood-based test for the prediction of early onset Alzheimer's disease, today announced that Paul Kinnon has been named Chief Executive Officer. Mr. Kinnon brings Diadem extensive global executive experience in successfully developing and commercializing innovative diagnostic and life science technologies in Europe and the U.S.
"Alzheimer's disease and other dementias are among the greatest public health crises of our time, afflicting more than 50 million people worldwide," noted Mr. Kinnon. "Development of effective therapies has been hindered by the difficulty of prediction and diagnosis, which makes early, effective intervention impossible."
Kinnon continued, "Diadem's transformational technology for the first time makes it possible to diagnose Alzheimer's early in the disease process and to predict whether the disease will progress. This will allow patients to seek treatment at a time when it is still possible to impact disease progression and preserve function. Our AlzoSure® test is blood-based, non-invasive and potentially widely accessible. I am honored to have the opportunity to work with the talented Diadem team to advance the development and commercialization of this breakthrough technology that could improve the lives of millions."
Kinnon served as chief executive officer at PredictImmune, publicly traded Transgenomic, and ZyGEM Corp. He held senior executive positions at Life Technologies (now ThermoFisher), Guava Technologies and Cellomics, raising substantial funding, creating global partnerships and increasing shareholder returns. Kinnon has a proven strategic and commercialisation track record of developing and bringing novel technologies and products to global markets rapidly and efficiently. He serves on the boards of both public and private companies and has significant expertise in corporate governance, corporate restructuring, and M&A and divestitures.
"We are delighted to have an experienced and successful global industry veteran like Paul at the helm of our exciting company as it prepares to move into the commercial phase of growth," said Gerald Möller, Chairman of the Board of Diadem and former CEO of Boehringer Mannheim. "Diadem's minimally invasive technology for the early diagnosis of Alzheimer's disease has enormous potential to transform the treatment of dementia and help spur the availability of effective new therapies. We look forward to working with Paul to advance the clinical development and commercialization of this important technology."
Diadem is developing AlzoSure—a plasma-based biomarker test that has been validated in early studies to accurately predict the probability a patient with mild cognitive impairment will progress to Alzheimer's disease. The company's patented technology measures conformational changes in the p-53 pathway. It targets Unfolded p-53, which is over-expressed in Alzheimer's patients, using an analytical method that includes a proprietary antibody and target sequences developed by Diadem. Further clinical studies are underway, and the company plans a global launch in collaboration with strategic partners in 2021.
About Alzheimer's Disease
There are about 50 million people suffering from dementia worldwide. Alzheimer's disease is the most common form and accounts for 60-70% of cases. At present there are no disease modifying treatments for Alzheimer's, and therapies to treat symptoms are limited. There are about 10 million new cases per year, and the incidence is rising rapidly as the population ages. The current total cost of care is enormous--estimated at 1 trillion dollars in the U.S. annually and expected to double by 2030. Currently, diagnosis of Alzheimer's disease is slow, inconclusive, invasive and expensive. Development of effective therapies for Alzheimer's has been hindered by the lack of accurate and cost-effective diagnostic and prognostic methods.
Diadem was founded in 2012 as a spin-off of the University of Brescia (Italy). The company is developing the first blood-based prognostic test for the early detection of dementia, with a focus on Alzheimer's disease. The lack of accurate, accessible and affordable diagnostic tools is a major contributor to the absence of effective treatments for this devastating condition. As a result, patients are not diagnosed until late in the illness, when effective treatment is no longer possible. Diadem's rapid, accurate, cost-effective and predictive blood-based prognostic test for the first time makes it possible to diagnose patients early in the disease process, when effective interventions and better outcomes are far more feasible. The utility of the approach has been demonstrated in early clinical studies. Additional retrospective and prospective clinical trials are planned to further validate clinical claims and support widespread adoption and use worldwide. Diadem's founding and lead investor is Milan-based Panakes Partners, a venture capital firm that finances promising high potential biomedical companies in Europe and Israel. Diadem is preparing for rapid commercialisation of its initial Alzheimer's prognostic via a global launch in collaboration with strategic partners, targeted for 2021. For more information, visit www.diademdx.com/
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