INTEGRATED DIAGNOSTICS SECURES $10 MILLION

SECOND TRANCHE OF SERIES A FINANCING

Substantial Progress Made in Developing Blood-Based Proteomic Diagnostics BioTechCube Luxembourg Joins Series A Investors; New Board Member Appointed

 

SEATTLE, July 22, 2010 – Integrated Diagnostics, an emerging leader in personalized diagnostics founded by Dr. Leroy Hood, today announced that the company has made substantial progress, triggering a $10 million second tranche of its Series A financing. The funds will be used to advance the development, validation and commercialization of its blood-based proteomic diagnostics programs. The company also announced that concurrent with the second tranche, BioTechCube (BTC) Luxembourg, a newly formed Luxembourg-based investment company, has joined the Series A group of investors and that Patrizia Luchetta, chair of BTC, will join the company’s Board.

 

“Achieving the second tranche is a measure of the progress Integrated Diagnostics has made in advancing its novel diagnostics platform and in identifying and validating urgent unmet diagnostic needs where this unique technology can have the greatest impact,” said Luchetta, who, in addition to her position at BTC, heads the Life Sciences and Technologies Department at the Ministry of the Economy and Foreign Trade of the Grand Duchy of Luxembourg. “The second tranche is also a demonstration of the confidence that the company’s investors have in the outstanding team at Integrated Diagnostics.”

 

Integrated Diagnostics uses genomic and proteomic techniques to identify and detect organ-specific blood proteins that appear at the earliest stage of disease. This work is based on Dr. Hood’s groundbreaking research in protein blood markers at The Institute for Systems Biology (ISB), which established ongoing research collaborations with the University of Luxembourg in 2008. In 2009 Integrated Diagnostics became the first commercial enterprise to arise from this partnership.

 

“Our access to the research arising from the University of Luxembourg’s partnership with ISB has been an important ingredient in our success to-date,” said Dr. Albert Luderer, CEO of Integrated Diagnostics. “We are very proud that BTC Luxembourg wishes to join us as an investor. The funds from the second tranche will allow us to accelerate the development and validation of the next generation of blood-based diagnostics.”

 

With today’s announcement, Integrated Diagnostics’s Board will now include:

• David Barker, Ph.D., Board chair, Integrated Diagnostics
• Jim Heath, Ph.D., co-founder, Integrated Diagnostics & professor of chemistry, California Institute of Technology
• Leroy Hood, M.D., Ph.D., co-founder, Integrated Diagnostics & co-founder, ISB
• Patrizia Luchetta, M.A., chair, BTC Luxembourg
• Albert Luderer, Ph.D., CEO, Integrated Diagnostics
• Arnold Oronsky, Ph.D., general partner, InterWest Partners

 

Integrated Diagnostics raised a $30 million Series A round of financing in September 2009. The round was led by InterWest Partners, a diversified venture capital firm, and joined by The Wellcome Trust and dievini Hopp BioTech holding. In line with expectations from the first tranche, BTC has joined the Series A investor group and now holds all of dievini’s previous investment in Integrated Diagnostics. Concurrently, the company announced that Dr. Friedrich von Bohlen, managing partner of dievini, has stepped down from the Board.

 

“I want to thank Friedrich for his dedicated service to the company,” said Dr. Luderer. “We are very excited to welcome Patrizia to the Board; her knowledge of the European market and experience in the diagnostics field will be invaluable to Integrated Diagnostic’s success.”

 

About Integrated Diagnostics

The mission of Integrated Diagnostics is to leverage powerful emerging technologies in the development of diagnostic products and measurement technologies that enable physicians and patients to manage complex and important diseases such as cancer, diabetes and Alzheimer’s through blood tests that can monitor tens to hundreds of disease markers simultaneously. The company is developing a pipeline of game-changing diagnostic products that enable the diagnosis and prognosis of a variety of diseases. The company is based on the concept of a systems view of disease where pathophysiology arises from disease-perturbed networks of proteins, genes and other molecules. For more information visit www.integrated-diagnostics.com

 

 

 

 

 

 

 

 

 

INTEGRATED DIAGNOSTICS APPOINTS DR. ALBERT LUDERER TO SERVE AS CEO

Senior Life Sciences Executive Will Lead Emerging Personalized Diagnostics Company Founded by Dr. Leroy Hood

 

SEATTLE, March 29, 2010 – Integrated Diagnostics, a personalized diagnostics company founded by Dr. Leroy Hood, today announced that Dr. Albert Luderer has been appointed by the Board of Directors to serve as CEO. Dr. Luderer was previously president and CEO of BioTrove, a venture-backed molecular biological tools company that was acquired by Life Technologies in December 2009. He brings to Integrated Diagnostics an extensive track record of leadership in medical diagnostics, laboratory medicine and therapeutic development.

Integrated Diagnostics, which raised a $30 Million Series A in September 2009, is an emerging leader in developing personalized and preventive diagnostics. The company uses genomic and proteomic techniques to identify blood proteins that are only synthesized in the organ of interest and then identifies subtle changes that result from disease or treatment. By monitoring concentrations of these proteins in the blood, disruptions in healthy function can be detected and traced back to the diseased organ.

 

“With a unique technology platform and access to Lee Hood’s research into protein blood markers, Integrated Diagnostics is on the leading edge of diagnostics,” said Dr. Luderer. “The company has all the elements necessary for success: potentially game-changing science, novel technology platforms, a world-class scientific team and visionary investors. I am very excited to be working with this extraordinary group to develop novel diagnostic tools to help patients and physicians detect disease in its earliest stages.”

The company’s proprietary protein panels are applicable to many diagnostic modalities including early detection of disease, stratification of disease types, and monitoring disease progression and recurrence. The company’s technology is pertinent to a broad scope of diseases, including cancer, diabetes and Alzheimer’s disease.

 

“Al’s proven record in diagnostic development and commercialization will be essential to Integrated Diagnostics as we advance our diagnostics platform and develop the next generation of tools for diagnosing and preventing disease,” said Dr. Leroy Hood, founder of Integrated Diagnostics and president of The Institute for Systems Biology (ISB). “Al’s experience as a successful scientist and entrepreneur will be critical to leading the company and advancing a health care environment that is predictive, preventive, personalized and participatory.”

Dr. Luderer brings more than 30 years of experience in biotechnology, with a focus on technology development, business development and commercialization. During his tenure at BioTrove the company was the 2009 recipient of Frost & Sullivan’s North American Drug Discovery Technologies and Growth Strategy Leadership of the Year Award and was recognized by Inc. magazine as one of the fastest growing companies in North America. Previously, Dr. Luderer was CEO of the venture-backed therapeutics company Light Sciences Inc and president and COO of bioMérieux, Inc. Earlier in his career he held senior management positions at Dianon Systems (now Lab Corp), Boehringer Mannheim (Now Roche) and Corning. Dr. Luderer has developed and commercialized major in vitro diagnostics (IVD) systems including Vitek® II – the global market leader for microbial detection and antibiotic susceptibility testing – and has co-invented and established standard of care diagnostics in cancer detection. He participated in the creation of one of the dominant IVD companies - Siemens Diagnostics - through his participation in the negotiation and formation of the joint venture IVD firm Ciba Corning. Dr. Luderer holds a PhD from Rutgers University where he was a National Science Foundation predoctoral fellow and performed postgraduate work in immunology at Jefferson Medical College. He is an independent director of Agendia BV and Micronics Inc. – and is an advisor to Washington University’s Biomedical Engineering program.

 

About Integrated Diagnostics

The mission of Integrated Diagnostics is to leverage powerful emerging technologies in the development of diagnostic products and measurement technologies that enable physicians and patients to manage complex and important diseases such as cancer, diabetes and Alzheimer’s through blood tests that can monitor tens to hundreds of disease markers simultaneously. The company is developing a pipeline of game-changing diagnostic products that enable the diagnosis and prognosis of a variety of diseases. The company is based on the concept of a systems view of disease where pathophysiology arises from disease-perturbed networks of proteins, genes and other molecules. For more information visit www.integrated-diagnostics.com

 

In September 2009 Integrated Diagnostics raised a $30 million Series A round of financing led by InterWest Partners, a diversified venture capital firm, and joined by The Wellcome Trust and dievini Hopp Biotech holding. Dievini’s participation in the Series A financing is part of a collaboration with the Grand Duchy of Luxembourg. Integrated Diagnostics is the first commercial enterprise to emerge from a unique $200 million public-private partnership – announced in 2008 – between the nation of Luxembourg and three American research institutions, including ISB. As part of the investment, Integrated Diagnostics has access to research from the ongoing research collaboration in systems biology between the University of Luxembourg and ISB, which also involves the development of the Luxembourg Centre for Systems Biomedicine.

 

 

 

 

 

 

 

INTEGRATED DIAGNOSTICS LAUNCHES WITH PRE-EMINENT TEAM AND INVESTORS

Dr. Leroy Hood-led venture secures $30 million Series A financing from
InterWest Partners, Wellcome Trust and dievini

 

SEATTLE, October 14, 2009 – Integrated Diagnostics launched officially today with more than $30 million in funding. A pre-eminent team of scientists and investors are behind the company, which was founded by renowned biotechnology innovator Dr. Leroy Hood. Integrated Diagnostics will focus on developing personalized and preventive diagnostics based on breakthroughs using genomic and proteomic technologies to identify organ-specific proteins. The company will be developing diagnostic tools to help patients and physicians detect disease in its earliest stages. Building on research from Dr. Hood, Dr. Jim Heath and other leading scientists, Integrated Diagnostics is creating powerful diagnostic tools and innovative biomarkers that will help define the coming transition to health care that is predictive, preventive, personalized and participatory.

 

“Just as the DNA sequencer allowed us to decode the human genome, the technology behind Integrated Diagnostics will allow us unprecedented insight into preventing and treating diseases like cancer, diabetes and Alzheimer’s by analyzing the proteins that appear in their earliest stages,” said Dr. Hood, current president of The Institute for Systems Biology (ISB); and inventor of the DNA sequencer, which played a crucial role in the mapping of the human genome. “I have had the good fortune to found several successful biotechnology companies. I believe Integrated Diagnostics will prove to be among the most significant. By taking a systems approach to monitoring an individual’s health we will be able to provide physicians and patients an early warning system for preventing and treating diseases.”

 

Integrated Diagnostics will have access to Dr. Hood’s groundbreaking research at ISB investigating protein blood markers that can report on the physiological state of the body's 50 major organs. His research uses genomic and proteomic techniques to identify blood proteins that are only synthesized in the organ of interest and then identifies subtle changes that result from disease or treatment. By monitoring concentrations of these proteins in the blood, disruptions in healthy function can be detected and traced back to the diseased organ. This work is based on the concept of a systems view of disease where pathophysiology arises from disease-perturbed networks of proteins, genes, and other molecules.

 

Through its research collaborations, Integrated Diagnostics possesses proprietary data on organ-specific proteins across a range of human organs. These protein panels are applicable to many diagnostic modalities including early detection of disease, stratification of disease types, and monitoring disease progression and recurrence. The company’s technology is applicable to a broad scope of diseases, including cancer, diabetes and Alzheimer’s disease.

 

“Integrated Diagnostic’s research enabling technologies will allow us to cut in half the standard development times for diagnostics,” said Dr. Hood. “In addition, the company’s technologies will ultimately permit the rapid analysis of blood biomarkers from just a fraction of a droplet of blood, at a cost of less than one dollar per protein measured.”

Financing

 

InterWest Partners, a diversified venture capital firm, led the $30 million Series A financing for Integrated Diagnostics and was joined by The Wellcome Trust and dievini Hopp Biotech holding. dievini’s participation in the Series A financing is part of a collaboration with the Grand Duchy of Luxembourg, which plans to become part of the investor group in the future.
Integrated Diagnostics is the first commercial enterprise to emerge from a unique $200 million public-private partnership – announced in 2008 – between the nation of Luxembourg and three American research institutions, including ISB.

“Luxembourg is very pleased to be part of Integrated Diagnostics as we seek both to improve the quality of health care and spur the development of the biotechnology industry in our country,” said Patrizia Luchetta, deputy director, Board of Economic Development for the Grand Duchy of Luxembourg. “This venture is an important element of our long-term plan to advance Luxembourg’s research and commercial capabilities in systems biology and personalized medicine.”

As part of the investment, Integrated Diagnostics will have access to research from the ongoing research collaboration in systems biology between Luxembourg and ISB, which also involves the development of the Luxembourg Centre for Systems Biomedicine.

“Integrated Diagnostics represents two important investing models,” said Dr. Arnold Oronsky, general partner at InterWest Partners. “The first is an innovative public-private investment partnership that seeks to achieve advances in health care, a return on investment and to spur the growth of a nation’s health care industry. The second model is the growing importance of investing in science that helps us to understand the complex biological systems that influence many diseases. There is a huge market for diagnostic tools that can make sense of that complexity; we believe Integrated Diagnostics is well placed to meet that need.”

“We are optimistic that systems biology will become a critical tool in the development of personalized medicine and believe that Integrated Diagnostics is at the leading edge in this field,” said Julie Eskay-Eagle, Head of The Wellcome Trust Health Care Investments.”

Founders

 

Dr. Hood is the founder of more than a dozen biotechnology companies, including Amgen, Rosetta Inpharmatics and Applied Biosystems. Integrated Diagnostic’s other founders include:

• Jim Heath, Ph.D, professor of chemistry at Caltech. Dr. Heath directs the National Cancer Institute-funded NanoSystems Biology Cancer Center, and has been a founder of a number of startup companies, including MTI (acquired by Siemens in 2005), NanoSys, Inc., and Momentum Biosciences, which is a biotech incubator currently operating in Los Angeles.

 

• David Galas, Ph.D, professor at ISB and VP/CSO of the Battelle Memorial Institute, an international non-profit science and technology organization. Dr. Galas served as president and CSO of Chiroscience R&D following their acquisition of Darwin Molecular Corporation, which Dr. Galas co-founded in 1993. Prior to his involvement in the biotechnology industry, Dr. Galas served as director for health and environmental research at the U.S. Department of Energy's Office of Science, where he headed the DOE's Human Genome Project from 1990 to 1993
• Paul Kearney, Ph.D, president and chief scientific officer of Integrated Diagnostics. Dr. Kearney is also scientific director of special projects at ISB, where he helped establish the collaboration in personalized medicine between ISB and the University of Luxembourg. Previously, he was vice president, bioinformatics at Caprion Proteomics, a leading provider of proteomics services for biomarker discovery.

 

About Integrated Diagnostics

The mission of Integrated Diagnostics is to leverage powerful emerging technologies in the development of diagnostic products and measurement technologies that enable physicians and patients to manage complex and important diseases such as cancer, diabetes and Alzheimer’s through blood tests that can monitor tens to hundreds of disease markers simultaneously. The company is developing a pipeline of game-changing diagnostic products that enable the diagnosis and prognosis of a variety of diseases. The company is based on the concept of a systems view of disease where pathophysiology arises from disease-perturbed networks of proteins, genes and other molecules. For more information visit www.integrated-diagnostics.com

About InterWest Partners

 

For 30 years InterWest (www.interwest.com) has partnered with exceptional entrepreneurs to build winning technology and life sciences companies. With more than 200 years of combined operating and investing experience, InterWest’s team has raised $2.8B, completed more than 70 IPOs, and participated in nearly 60 upside acquisitions. As the firm invests InterWest X, a $650M fund, InterWest continues to believe that providing capital is just the beginning of a long-term collaboration with entrepreneurs to turn their vision into a thriving company.

About The Wellcome Trust

The Wellcome Trust is the largest charity in the UK. It funds innovative biomedical research, in the UK and internationally, spending over £600 million each year to support the brightest scientists with the best ideas. The Wellcome Trust supports public debate about biomedical research and its impact on health and wellbeing.

About dievini Hopp BioTech holding

 

dievini Hopp BioTech is the life sciences investment firm of SAP co-founder Dietmar Hopp. Led by Friedrich von Bohlen and Christof Hettich, dievini focuses on oncology, CNS, cell-based therapies and personalized medicine. dievini’s approach is entrepreneurially driven, with the goal of building organizations that create and support synergies between therapeutic and personalized medicine approaches. dievini and the Grand Duchy of Luxembourg are collaborating in pursuit of this common goal.