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TORONTO, ONTARIO–(Newsfile Corp. – December 12, 2022)– Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) (of “Company” Also “terrorism”) today announced the appointment of Kris Weinberg as Chief Executive Officer (CEO). Sherif Louis PhD, current CEO of Telo Genomics, will become president and chief technology officer.
John Meekison, Director and Audit Committee Chair of Terror Genomics, said: “Sheriff spearheaded our technology transformation with the successful development of the Telo multiple myeloma (“Telo-MM”) test. Telo-MM is developed to provide health professionals with important, actionable information for the treatment of multiple myeloma. Myeloma (“MM”), a deadly form of blood cancer. We look forward to working with both Sheriff and Chris as we advance the commercialization of Telo-MM and move it from the lab to the clinic. increase. ”
Mr. Weinberg is a seasoned industry veteran and commercial leader with deep hands-on experience in the field of high-value molecular testing focused on commercializing innovative oncology technologies. Mr. Weinberg recently led commercial efforts at Theralink Technologies, successfully launching his Theralink assay for breast cancer to physicians and payers across the United States. Kris previously held commercial leadership roles at Natera, Guardant Health, Biodesix, and Genomic Health. There he successfully launched a revolutionary cancer test on multiple platforms.
“I am very excited to be joining the team at Telo Genomics, and I look forward to building on my years of experience on the commercial side of the diagnostics industry to begin launching the Telo-MM diagnostic test,” said Weinberg. says. “This is an exciting opportunity to join TELO. , addresses a significant unmet clinical need, especially in the management of advanced myeloma – at risk for patients with ‘smoldering myeloma’. “
In connection with Mr. Weinberg’s appointment as CEO, the Company granted 1,000,000 stock options (“option“) Pursuant to the Company’s 2022 Stock Option Plan, the term is 5 years and the exercise price is $0.35. Options vest 25% on the date of grant and an additional 25% on each subsequent anniversary of the date of grant. The 48-month option expires on December 12, 2027 until fully vested.
TELO recently completed clinical validation of two tests developed to address an important unmet clinical need in the management of MM. TELO’s flagship product is designed to identify high-risk smoldering multiple myeloma (“SMM”) patients who are likely to benefit from early intervention. More importantly, this test identifies a larger subset of low-risk SMM patients who have a more stable form of disease, do not require immediate treatment, and can be routinely monitored using TELO’s assay. is to Our second His MM assay predicts treatment resistance in newly diagnosed MM patients. Identifying these patients allows doctors to change treatment plans in a timely manner. The test facilitates regular monitoring, thus allowing real-time treatment changes as indicated.
About multiple myeloma
Multiple myeloma is a difficult and potentially fatal blood cancer that involves plasma cells, a type of blood cell that helps fight infection. It is the second most common blood cancer in the United States with 35,000 new cases each year and 180,000 patients treated at any given time. Although the introduction of a new generation of treatments, including targeted immunotherapy, has increased median survival to more than 5 years, MM is still considered incurable. Two asymptomatic auras, MGUS and SMM, usually precede progression to classic symptomatic MM in 1% from MGUS and 15% from SMM, respectively. To date, identifying patients who progress to MM more rapidly remains an important unmet clinical need. MM treatment involves a combination of different drugs that cost as much as $150,000 per patient per year. Active patient identification remains another important and unmet need, as most patients develop resistance to treatment and relapse within a median of 2 years of her life. Notably, the target market for both of these MM assays is over 750,000 per year in the US.
Telo Genomics is a biotechnology company pioneering the industry’s most comprehensive telomere platform with powerful applications that enable both predictive and prognostic solutions. These include liquid biopsy and related techniques in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of great interest to the medical community because it is less invasive and more easily replicated than traditional diagnostic approaches. TELO will combine our team’s considerable expertise in quantitative 3D telomere analysis with molecular biology and artificial intelligence to address the needs of pathologists and clinicians by recognizing genetic instability associated with disease By doing so, we develop simple and precise products that improve the daily care of patients. , academic researchers, drug developers. The benefits of our proprietary technology have been demonstrated in over 160 peer-reviewed publications and over 30 clinical studies in over 3,000 patients with multiple cancers and Alzheimer’s disease. Our flagship application, TELO-MM, is being developed to provide healthcare professionals with critical, actionable information in the treatment of multiple myeloma, a deadly blood cancer. For more information, please visit www.telodx.com.
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Certain information contained herein may constitute “forward-looking information” under the securities laws of Canada. Forward-looking information generally includes the use of forward-looking terms such as “intends,” “will,” or words, phrases, or statements that a particular action, event, or result will “occur.” can be identified by using variations ofForward-Looking Statements Regarding Product Clinical Effectiveness, Product Commercial Viability, Use of Proceeds and TeloView Capabilities® Our platform for delivering personalized healthcare that delivers better care and outcomes is based on our estimates and is subject to known and unknown risks, uncertainties and our actual results, levels of activity and performance. , or other factors that can significantly affect performance. It differs from those expressed or implied by forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected by such statements. You should not place undue reliance on these forward-looking statements and forward-looking information. We do not update any forward-looking statements or forward-looking information incorporated herein by reference, except as required by applicable securities laws.
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