Scipher Medicine® Appoints Sam Asgarian, M.D., MBA Chief Medical Officer

Rhea-AI Summary

Scipher Medicine has appointed Sam Asgarian, M.D., MBA, as its new chief medical officer. Dr. Asgarian brings significant experience from Thrive Earlier Detection Corp., a subsidiary of Exact Sciences (EXAS), and from leadership roles at CVS Health (CVS). His expertise aims to enhance Scipher Medicine's mission to match patients with effective therapies, improving outcomes while reducing costs. The company's flagship test, PrismRA, targets rheumatoid arthritis, addressing the substantial issue of ineffective medication prescriptions that costs over $552 billion annually.

Positive

• Appointment of Dr. Sam Asgarian as chief medical officer, bringing extensive healthcare and business leadership experience.
• Dr. Asgarian's focus on improving patient outcomes and reducing healthcare costs aligns with the company's goals.
• PrismRA test shows potential to significantly decrease annual costs associated with ineffective RA medications.

Negative

• Concerns regarding continuity in leadership and potential transitional challenges with Dr. Asgarian's arrival.

WALTHAM, Mass.--(BUSINESS WIRE)-- Scipher Medicine, a precision immunology company matching patients with their most effective medication therapies, today announced the appointment of Sam Asgarian, M.D., MBA, as chief medical officer.

Sam Asgarian, M.D., MBA, Scipher Medicine, Chief Medical Officer (Photo: Business Wire)

“We are thrilled to welcome Dr. Asgarian to our leadership team,” said Alif Saleh, chief executive officer of Scipher Medicine. “His strong blend of experience as a health care clinician and business leader will serve us well as we pursue our critical mission.”

Dr. Asgarian joins Scipher Medicine after serving as chief medical officer at Thrive Earlier Detection Corp., a subsidiary of Exact Sciences Corp. (Nasdaq: EXAS). He also held leadership roles at Aetna, a CVS Health (NYSE: CVS) company, serving as vice president of Transformation Health Products and Services, and vice president and chief medical officer, Consumer Health Products and Services.

“I’m excited to join Scipher Medicine and contribute to solving one of health care’s biggest challenges – matching patients with effective medications without them having to cycle through costly and time-consuming therapies to which they are unlikely to respond,” said Dr. Asgarian. “Our technology improves patient outcomes while also lowering costs, and I look forward to helping unlock its full potential.”

Scipher Medicine’s first commercially available test, PrismRA^®, assesses patient response to tumor necrosis factor inhibitor (TNFi) therapy, the world’s largest selling drug class. An estimated 90% of RA patients are prescribed TNFi drugs, yet nearly two-thirds do not respond to the medications. More than $552 billion is wasted annually on prescribed medications to which patients do not respond. PrismRA enables patients to start more effective FDA-approved therapies from the outset.

The molecular data generated from PrismRA supports development of Scipher Medicine’s test pipeline targeting additional complex diseases with low drug therapy response rates, such as ulcerative colitis, Crohn’s disease, and multiple sclerosis. Our proprietary network medicine platform also supports partnerships with pharmaceutical companies to develop new drug therapies.

RA is an autoimmune and inflammatory disease, which means a person’s immune system attacks healthy cells, causing painful swelling in the affected parts of the body, usually joints in the hands, wrists, and knees. There is no cure for RA, making early condition management critical to patient care. About 1.5 million Americans have RA, and women are two times more likely than men to get RA, according to the Arthritis Foundation.

About Scipher Medicine^®

Scipher Medicine, a precision immunology company matching patients with their most effective therapies, believes that patients deserve simple answers to treatment options based on scientifically backed data. Using Spectra™, our proprietary network medicine platform, and artificial intelligence, we commercialize blood tests revealing a person’s unique molecular disease signature and match it to the most effective therapy, ensuring optimal treatment from day one. The patient molecular data generated from our tests further supports the discovery and development of novel and more effective therapeutics. We partner with leading payers, providers, and pharmaceutical companies to bring precision medicine to autoimmune diseases. Visit http://www.sciphermedicine.com and follow Scipher Medicine on Twitter, Facebook, and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211116006301/en/

Media Relations

Matt Burns

VP, Head of Communications

PR@scipher.com

518-423-5907

Investor Relations

John Strumbos, Ph.D., MBA

Chief Financial Officer

IR@scipher.com

Source: Scipher Medicine

FAQ

What impact will Dr. Sam Asgarian's appointment have on Scipher Medicine?

Dr. Asgarian's appointment is expected to enhance leadership and direction, particularly in patient therapy matching and cost-reduction strategies.

How does Scipher Medicine's PrismRA test work?

PrismRA assesses patient response to TNFi therapy, enabling more effective treatment options from the outset.

What are the financial implications of ineffective medications addressed by Scipher Medicine?

The healthcare system wastes over $552 billion annually on prescribed medications that patients do not effectively respond to.

What previous roles did Dr. Asgarian hold before joining Scipher Medicine?

Before joining Scipher, Dr. Asgarian was the chief medical officer at Thrive Earlier Detection Corp. and held leadership roles at Aetna.