Inivata Announces Appointment of Timothy Shannon as Chief Financial Officer
Inivata, a global clinical cancer genomics company employing the precision of circulating tumor DNA (ctDNA) analysis to improve personalized healthcare in oncology, today announces the appointment of Timothy Shannon as Chief Financial Officer. Tim will be based out of Inivata’s US Research Triangle Park (RTP) office with global responsibilities for Inivata’s financial and operational management.
Tim joins Inivata from Baxano Surgical and Talecris Biotherapeutics, where he formulated and implemented financial controls and process improvements that supported business growth and expansion. His background in technology, life sciences, and distribution environments is particularly relevant as Inivata moves forward towards long-term business planning and commercialization of its InVision® product line. While at Talecris, Tim managed the Initial Public Offering (IPO) at a $3.28 billion valuation and has managed merger and acquisition transactions. Tim also has operational business experience across critical issues including budgeting, investor relations, systems implementation, and risk management.
Michael Stocum, Chief Executive Officer at Inivata, said:
“We are delighted to welcome Tim to Inivata as our Chief Financial Officer. His broad financial and operational experience will augment the existing strengths of the management team as we build towards the commercial launch of InVision.”
Tim Shannon, CFO at Inivata, said:
“After an impressive Series A fundraise, I look forward to working closely with the Board, senior management and rest of the team in executing Inivata’s strategy and achieving clinical and commercial success.”
Inivata recently completed $45 million in Series A round, securing funds for clinical studies and validation of its technology platform for the analysis of ctDNA. Analytical validation, presented in April at AACR, showed its broad molecular profiling as a robust and reproducible method of detecting genomic alterations in ctDNA with stand-out sensitivity and specificity. Inivata’s proprietary platform will be applied across a spectrum of solid tumors to provide oncologists with clinically actionable information to stratify patients, monitor treatment progress, and identify emerging tumor resistance.
Inivata is a leader in liquid biopsy. Its InVision® platform unlocks essential genomic information from a simple blood draw to guide and personalize cancer treatment, monitor response and detect relapse. Inivata’s technology is based on pioneering research from the Cancer Research UK Cambridge Institute, University of Cambridge. Its lead product, InVisionFirst®-Lung is commercially available and offers best-in-class sensitivity and turnaround, providing molecular insights that enable clinicians to make more informed treatment decisions for advanced NSCLC patients. Inivata has also launched the personalized RaDaR™ assay – allowing the highly sensitive detection of residual disease and recurrence. Inivata is partnering with pharmaceutical, biotechnology companies and commercial partners in a range of early and late stage cancer development programs. The Company has a CLIA certified, CAP accredited laboratory in Research Triangle Park, NC and R&D laboratories in Cambridge, UK. For more information, please go to www.inivata.com. Follow us on Twitter @Inivata.