INDI® APPOINTS DOUGLAS SANDERS CFO
SEATTLE, JANUARY 8, 2015 – Indi (Integrated Diagnostics®), a molecular diagnostics company pioneering the use of blood-based proteomic tests, today announced that it has appointed Douglas Sanders as chief financial officer. Indi is the creator of Xpresys® Lung, the first non-invasive molecular blood test for the assessment of pulmonary nodules. Sanders is a prominent international life sciences CFO and entrepreneur who most recently served as CFO of CMC Biologics.
"As Indi explores new markets for Xpresys Lung and new applications for Indi’s proteomics platform, Doug’s experience at growing companies and successfully navigating liquidity events will prove invaluable,” said Albert A. Luderer, Ph.D., chief executive officer, Indi. “Doug and I have known each other for ten years and had the pleasure of working together earlier in our careers at Light Sciences."
In addition to his leadership role at CMC Biologics, a private equity owned biologics manufacturer based in Copenhagen and Seattle, Sanders is the co-founder of several life sciences companies. Prior to that, he spent 15 years with Hoffmann-La Roche, mainly in Europe. His most recent position at Roche was as head of business operations and CFO for Roche Consumer Health, a division of Hoffmann-La Roche based in Switzerland. Later Sanders returned from Europe to become CFO of MediQuest Therapeutics, a development stage specialty pharmaceutical company. Earlier in his career he held auditor positions at companies including Eastman Kodak Company, Hoffman, Stewart & Schmidt and Ernst and Young.
"Indi’s combination of technology and vision holds the promise to dramatically change the practice of diagnostic medicine,” said Sanders. “The company’s recent success at garnering insurance coverage for Xpresys Lung demonstrate the product’s potential to help reduce unnecessary invasive procedures and lower costs. I’m delighted to be working with Al and the rest of the team to fulfill the promise of Xpresys Lung and Indi’s proteomics platform."
Sanders holds an MBA from the US international business school, Thunderbird School of Global Management and a Bachelor of Arts from Gonzaga University.
Xpresys Lung is a breakthrough protein expression blood test developed to provide physicians with a solution to a major medical dilemma in the United States—the overtreatment of benign lung nodules. Today, it is estimated millions of pulmonary nodules are discovered each year; after traditional assessment protocols, which include biopsies and surgeries, most of these nodules are classified as benign. Xpresys Lung allows for the non-invasive assessment of pulmonary nodules in the 8-30 mm size range; traditionally, nodules of this size are associated with significant diagnostic uncertainty.
Xpresys Lung provides physicians with objective information to identify nodules with a high probability of being benign, potentially reducing unnecessary invasive procedures which may be risky for the patient and costly to the healthcare system.
The blood test measures the relative abundance of proteins from multiple pathways associated with lung cancer, using a highly sensitive analytic technique called multiple reaction monitoring mass spectroscopy (MRM-mass spec).
Data from two studies supporting the technology behind Xpresys Lung were published in Science Translational Medicine on October 16, 2013. Click here to access the full study.
Indi (Integrated Diagnostics) is redefining molecular diagnostics and creating powerful new tools for physicians to non-invasively assess and more effectively manage complex diseases to improve patient outcomes, reduce complications, and lessen costs to the healthcare system. With the company’s first breakthrough test, Xpresys Lung, which measures multiple blood proteins and identifies lung nodules with a high probability of being benign, physicians have the potential to reduce risks and the need for unnecessary invasive procedures.
The company was co-founded in October 2009 by systems-biology pioneer Dr. Lee Hood, who recently received the National Medal of Science from the U.S. government. His groundbreaking research is based on a systems biology approach, which measures hundreds of protein biomarkers found in blood to report on the physiological state of the body’s 50 major organs, such as the lungs.
Backers include Baird Capital, InterWest Partners, Life Sciences Alternative Financing and the Wellcome Trust. Foundational intellectual property is exclusively licensed from the Institute for Systems Biology and Caltech. Learn more at www.indidx.com