Immunovia appoints Karl Stone as new chief operating officer to develop R&D and operations

Rhea-AI Summary

Immunovia (Nasdaq Stockholm: IMMNOV) has announced the appointment of Karl Stone as Chief Operating Officer, effective March 1, 2023. This leadership change aligns with the company’s focus on enhancing the US commercialization of its IMMray™ PanCan-d test, a blood-based diagnostic for early pancreatic cancer detection. Stone brings over 25 years of experience in IVD systems and bioprocessing. His role will involve leading R&D and Product Management to enhance efficiency. The IMMray™ PanCan-d test is critical for addressing a significant market with an estimated addressable size of 1.8 million individuals annually in the USA.

Positive

• Appointment of Karl Stone as COO to strengthen leadership.
• Karl Stone's extensive experience in IVD and bioprocessing.
• Focus on enhancing productivity in R&D and Product Management.

Negative

• Concerns about continuity and experience gaps within the executive team.

LUND, Sweden, March 1, 2023 /PRNewswire/ -- Immunovia (Nasdaq Stockholm: IMMNOV), the diagnostics company that has launched the world's first blood-based test dedicated to the early detection of pancreatic cancer, today announced the appointment of Karl Stone as Chief Operating Officer effective 1 March, 2023. 

As anticipated when the new management structure was announced in October 2022, Immunovia has now added a new Chief Operating Officer role to its executive team to align with strategic priorities and focus on the US commercialization of the IMMray™ PanCan-d test. The Chief Operating Officer will be responsible for leading R&D and Product Management to improve their productivity and efficiency. 

Karl brings over 25 years of technical work experience from industrial bioprocessing through genomics, to IVD; he also has extensive experience in developing and commercializing IVD systems. Karl was one of the original members and the first Operations Director of Oxford Gene Technology, a pioneer of DNA microarray technology. During the pandemic Karl was Head of Operations at the Medicines Discovery Catapult, Lighthouse Lab - one of the UK´s network of COVID testing labs. He has also held leadership roles in operations, engineering and consulting across the life sciences industry. Karl holds a Ph.D. in Biochemical Engineering from University College London, an M.Sc. in Medical Electronics and Physics from the University of London, and a B.Sc. in Electrical and Electronic Engineering from King's College London. 

"We are very excited to welcome Karl to Immunovia's executive management team. His experience will play an important role in executing on our strategic priorities in this critical phase of the company's development as we further progress the commercialization of the IMMray™ PanCan-d test. Karl's background in leading operations will further ensure streamlined performance across all departments," says Philipp Mathieu, CEO and President of Immunovia. 

For more information, please contact:
Philipp Mathieu
CEO and President
philipp.mathieu@immunovia.com
 
Karin Almqvist Liwendahl
Chief Financial Officer
karin.almqvist.liwendahl@immunovia.com 

About Immunovia
Immunovia is a diagnostic company with the vision to revolutionize blood-based diagnostics and increase survival rates for patients with cancer. 

Our first product, IMMray™ PanCan-d is the only blood test currently available specifically for the early detection of pancreatic cancer. The test has unmatched clinical performance. Commercialization of IMMray™ PanCan-d started in August 2021 in the USA and IMMray™ PanCan-d is offered as a laboratory developed test (LDT) exclusively through Immunovia, Inc. For more information see: www.immunoviainc.com. 

Immunovia collaborates and engages with healthcare providers, leading experts and patient advocacy groups globally to make this test available to all high-risk pancreatic cancer groups.  

The USA, the first market in which IMMray™ PanCan-d is commercially available, is the world's largest market for the detection of pancreatic cancer with an estimated, addressable market size of 1.8 million individuals per year who could benefit from our test. 

Immunovia's shares (IMMNOV) are listed on Nasdaq Stockholm. For more information, please visit www.immunovia.com 

The following files are available for download:

https://mb.cision.com/Main/13121/3725120/1882055.pdf

Press release (PDF)

 

View original content:https://www.prnewswire.com/news-releases/immunovia-appoints-karl-stone-as-new-chief-operating-officer-to-develop-rd-and-operations-301759205.html

SOURCE Immunovia AB

FAQ

What is the significance of Karl Stone's appointment as COO for IMMNOV?

Karl Stone's appointment is aimed at enhancing the company's operational efficiency and driving the US commercialization of the IMMray™ PanCan-d test.

What experience does Karl Stone bring to Immunovia?

Karl Stone has over 25 years of experience in industrial bioprocessing and IVD systems, contributing to his capability in leading R&D and operations.

How does the IMMray™ PanCan-d test impact the market potential for IMMNOV?

The IMMray™ PanCan-d test targets a substantial addressable market of 1.8 million high-risk individuals in the US, indicating significant commercial potential.

When did Karl Stone start his role as COO at Immunovia?

Karl Stone began his role as Chief Operating Officer on March 1, 2023.