MDNA Life Sciences, Inc., announced that Chris Mitton has been appointed its new chief executive officer, and Jack Riccardi is the company’s new chief financial officer. The two join chief development officer, Jennifer Creed, and chief science officer, Andy Harbottle, PhD, to close MDNA’s executive team. The company is preparing for several milestones in its pipeline of mitochondrial DNA-based diagnostic tests, including this year’s launch of its first two blood-based tests for prostate cancer and endometriosis.
Mitton has over 15 years of medical device and diagnosis experience in transactional, sales and marketing, business development, licensing, and new product introductions. He previously held sales roles at Abbott and Bayer Healthcare, and senior commercial operation positions at Ipsogen, Qiagen, and Cancer Genetics.
Riccardi has over 10 years of CFO experience in both private and public entities, including Omni Bio Pharmaceutical, Adial Pharmaceuticals, and Modern Visuals. He has also worked as director of Strategic Planning and director of Finance with General Motors.
“We are excited to announce the establishment of our new commercially-focused executive team. Chris Mitton was chosen to lead MDNA as CEO during this pivotal time because of his extensive expertise in diagnostic product launches, which will be a key component of our strategic plan in 2016 and 2017. Equally as important is the appointment of Jack Riccardi as CFO. … [W]e expect his efforts to be extremely valuable as we evaluate our near-term financial plan and contemplate future public market strategies,” Harry Smart, chairman of the MDNA Board of Directors, said in a press release.
George Steinfelds, PhD, will continue at MDNA as a board advisor. “George’s science pedigree and biotech product launch experience made him particularly well equipped to build a solid foundation for the future success of MDNA Life Sciences. We thank George for his contribution during the year since he took up the role of interim CEO, particularly for his leadership role in overseeing the acquisition of the intellectual property and assets of Mitomics Inc., and for helping to establish our current executive team, who will now focus on augmenting sales of the Prostate Core Mitomic Test™ and managing multiple planned product launches for MDNA’s novel blood-based tests for prostate cancer, endometriosis, ovarian cancer and lung cancer,” Smart added.
MDNA Life Sciences specializes in the development of molecular diagnostic tests based on the mitochondrial genome, and reports that its Prostate Core Mitomic Test is the highest performing tissue-based prostate cancer diagnostic on the market, with 85% sensitivity and a 92% negative predictive value.