NASHVILLE, Tenn.--(BUSINESS WIRE)--Insight Genetics, Inc. today announced that Ronald (Ronnie) Andrews Jr., former president of the Genetic Science Division of Thermo Fisher Scientific, has been named to the company’s Board of Directors. Andrews also joined the company’s base of private investors, in a round of $3 million growth capital that will allow Insight Genetics to expand and expedite its triple negative breast cancer and non-small cell lung cancer programs. The minimum of $3 million has been closed, with a maximum of $5 million targeted.
Insight Genetics, a leading molecular diagnostic assay development company, focuses on the discovery, development and commercialization of molecular diagnostics that detect specific cancer biomarkers, particularly in triple negative breast cancer and non-small cell lung cancer. These diagnostic tests assist in guiding the effective diagnosis, treatment and monitoring of cancer.
“We are pleased to welcome Ronnie to the Insight Genetics board and look forward to his guidance and perspective as we grow,” said Eric Dahlhauser, Insight Genetics Chairman and CEO. “His scientific expertise and extensive background working with partners across the spectrum of cancer diagnostics will support Insight Genetics as we continue to develop cutting-edge technologies and diagnostic tests. The addition of Ronnie to our board and this new funding will increase our capacity to enhance our research and development capabilities and clinical data generation.”
Prior to Thermo Fisher, Andrews served as president, Medical Sciences of Life Technologies where he oversaw the Ion Torrent next generation sequencing platform and the integration of the Oncomine Cancer Knowledgebase. Upon the merger of Life Technologies with Thermo Fisher, Andrews oversaw the integration of these technologies within the combined organization. Before joining Life Technologies, Andrews was CEO of Clarient, where he led the comprehensive cancer diagnostics center from $6M to $120M in annual revenues until its sale to GE Healthcare. Andrews is also the Founder of The Bethesda Group, which works with innovative companies and helps them bring dynamic technologies and compelling content to the market.
As a board member of Insight Genetics, Andrews will serve as a strategic advisor and assist the company in commercializing its proprietary triple-negative breast cancer (TNBC) subtyping tool, Insight TNBCtype™, and further developing the company’s liquid biopsy assays for the diagnosis and monitoring of non-small cell lung cancer (NSCLC) patients.
“Insight Genetics’ team has expertise in discovery, development and commercialization of molecular diagnostics that have great potential to advance precision cancer care,” said Andrews. “I am excited to work with the company as it continues developing and commercializing its novel technologies.”
About Insight Genetics
Insight Genetics is dedicated to improving the lives of cancer patients through advanced molecular diagnostics that enable precision in cancer care. The company specializes in the discovery, development and commercialization of molecular diagnostics that detect specific cancer biomarkers in triple negative breast cancer and lung cancer and assist in guiding the effective diagnosis and treatment of cancer. Insight Genetics is ISO 9001:2008 certified and partners with leading academic researchers, pharmaceutical and biotechnology companies, clinical reference laboratories, and IVD kit manufacturers to create new standards of care for cancer patients worldwide. Visit www.insightgenetics.com for more information.