TwinStrand Biosciences Announces Executive Leadership Changes to Accelerate Adoption of Duplex Sequencing for Minimal Residual Disease (MRD) Testing for Hematological Malignancies and Cell Therapy Monitoring

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Aug 29, 2023, 09:00 ET

Duplex Sequencing can deliver 10,000x greater accuracy than standard NGS allowing for exquisitely sensitive mutation and genetic allele detection to inform critical medical decisions and drug development pipelines
Experienced Molecular Diagnostics executive, Ron Andrews, appointed as President and CEO and Board Member
David Canner, PhD, from Soleus Capital and Jason Myers, PhD, co-founder of ArcherDx(Invitae) have both joined the Board of Directors

SEATTLE, Aug. 29, 2023 /PRNewswire/ -- TwinStrand Biosciences^®, the pioneer in Duplex Sequencing technology, which delivers accurate insights to researchers in applications ranging from residual cancer detection to genetic toxicology announced the appointment of Ron Andrews, as Chief Executive Officer and Board Member. TwinStrand^® is also pleased to announce that David Canner, Partner at Soleus Capital, and Jason Myers, Independent Director, will join the TwinStrand Board of Directors. TwinStrand currently provides Duplex Sequencing assays for research use for minimal residual disease detection and genomic safety via the company's off-the-shelf kit solutions utilized on installed NGS platforms.

"TwinStrand is at a very important inflection point as we look to transition our patented Duplex Sequencing technology from the research market to the clinical market, and the board felt it was important at this time to bring on an experienced executive from the molecular diagnostics/NGS clinical market to lead us into this new chapter," stated Chad Waite, Chairman of the Board of Directors. "We are extremely pleased to announce that Ron Andrews, former CEO of Clarient and Oncocyte and former President of the Genetic Sciences Division of LifeTech/Thermo Fisher has agreed to join as our new President and CEO effective immediately. With a fresh round of funding under our belt and a seasoned leader who has led the creation of over $16B in market value over the course of his career, we are very enthusiastic about the future of TwinStrand."

TwinStrand's patented technology platform enables the detection of ultra-low frequency DNA mutations with a resolution 10,000 times greater than conventional NGS tools on the market. Duplex Sequencing overcomes the inherent limitations in today's NGS technologies by reducing background noise, which enables quantification and characterization of variants that were previously undetectable, a critical unmet clinical need for blood-based monitoring of certain diseases.

"I am very excited to step into the role of CEO for a company with such a potentially game changing technology in oncology. The foundational work of Dr. Jesse Salk and others to bring Duplex Sequencing into an RUO kit format has positioned the company well for the next phase of growth as we aim to capture first-mover status in markets in which the performance of Duplex Sequencing is differentiating and could bring significant improvement to the patient journey," stated Ron Andrews, CEO. "Specifically, in markets like Acute Meyloid Leukemia and Cell Therapy Monitoring, exquisite sensitivity for detecting patient mutations promises dramatic improvement in managing the patient's treatment course. Our plan is to reduce the technology to practice via a CLIA LDT laboratory strategy which accelerates access for patients and avails us to high value reimbursement. We plan to establish our patented sequencing technology as the "one-stop" technology solution for all error-corrected sequencing (ecNGS) markets, from CLIA LDT to IVD-R kits in Europe. TwinStrand is also announcing two new board members who have market expertise in financing molecular companies and development and commercial execution of products in the blood-based monitoring markets. David and Jason have incredible backgrounds to assist in helping us seize the opportunities before us in these exciting and growing markets."

This emerging business focus will enable TwinStrand to accelerate commercialization of its current offerings, as well as development of additional assays in the Company's genomics product pipeline. This includes an expanded panel meeting EU regulatory recommendations for the DuplexSeq™ AML MRD assay, but also driving continued pharmaceutical adoption of our DuplexSeq™ Mutagenesis assays to screen out potential carcinogenic compounds for the rapidly emerging market in Genetic Toxicity.

About TwinStrand Biosciences

TwinStrand Biosciences' Duplex Sequencing patent estate is the foundational technology enabling the ability to accurately identify ultra-low frequency genomic variants that are undetectable by conventional NGS methods. The company's highly sensitive and specific patented Duplex Sequencing technology delivers clearer insights to researchers and clinicians in applications ranging from residual cancer detection to genetic toxicology. This data can inform critical decisions in clinical medicine, public health, and other fields of science on a faster timescale when actions are most impactful. TwinStrand's scientist-leaders have authored more than thirty peer-reviewed articles using Duplex Sequencing technology and have developed a portfolio of more than 150 patents and patent applications. The company has partnered with pharmaceutical companies, academic centers, clinical research networks, and federal regulatory agencies to bring high precision genomics to the forefront of their science. For more information visit www.twinstrandbio.com.

Contacts

TwinStrand Biosciences
Matt Edwards
[email protected]

SOURCE TwinStrand Biosciences