Integrated Diagnostics, has announced that Jay Moyes has joined the company's Board as an independent director. Moyes is the past chief financial officer of Myriad Genetics where he led all accounting, HR and IT efforts.
Integrated Diagnostics, which raised a $30 Million Series A in the fall of 2009, is developing large-scale, blood-based molecular diagnostics that leverage advances in technology to detect disease at its earliest stage.
"Jay Moyes' experience building Myriad from a ten-person startup into an industry giant gives him a unique track record of success in the business of molecular diagnostics," said Albert A. Luderer, Ph.D., CEO of Integrated Diagnostics.
Luderer continued, "As Integrated Diagnostics moves swiftly into the clinic - building our lab facilities, staff and IT resources - Jay's guidance will be essential to ensuring that our infrastructure, operations and financial strategy equal the groundbreaking science behind our diagnostics programs. We are very pleased to welcome him to our team of scientists, clinicians, entrepreneurs and investors who all share a vision for developing the next generation of diagnostics."
During his 14 years at Myriad, Moyes developed and maintained relationships with key bankers, analysts and investors, raising more than $500 million in public and private equity. He played a key role in growing the company from a startup into one of the world's top molecular diagnostics companies, with annual revenue in excess of $300 million.
While at Myriad, Moyes collaborated closely with fellow Integrated Diagnostics Board member, Gregory Critchfield, M.D., M.S., who served as CEO of Myriad's diagnostic laboratory for nearly 12 years.
"Lee Hood has an unparalleled record of building successful life sciences companies that advance our understanding of disease and improve health outcomes," said Moyes. "At Integrated Diagnostics, he has brought together the people and the technology necessary to deliver advanced diagnostics to physicians and their patients. I am very excited to be working with Greg again - and am looking forward to collaborating with Lee, Al and the rest of the Board to make this vision a reality."
After his tenure at Myriad, Moyes held the position of CFO at XDx, an emerging molecular diagnostics company - where he was a collegue of Kenneth C. Fang, M.D, who now serves as Integrated Diagnostics' chief medical officer. Earlier in his career, Moyes was the CFO of Genmark, an agricultrual biotechology company. Prior to that, he worked for many years at KPMG, a leading international public accounting firm. Today he serves as director and chair of the audit committees of both Osiris Therapeutics and BioCardia.
Integrated Diagnostics uses proteomic and genomic 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).
By monitoring blood proteins that are only synthesized in the organ of interest, the company's diagnostics gather systems level knowledge to identify subtle changes that result from disease or treatment.
With today's announcement, Integrated Diagnostics' Board includes:
• David Barker, Ph.D., past CSO Illumina & Board chair, Integrated Diagnostics
• Gregory Critchfield, M.D., M.S., past president, Myriad Genetic Laboratories
• Jim Heath, Ph.D., co-founder, Integrated Diagnostics; professor of Chemistry, California Institute of Technology
• Lee Hood, M.D., Ph.D., co-founder, Integrated Diagnostics & co-founder, ISB
• Patrizia Luchetta, M.A., chair, BTC Luxembourg; Life Sciences and Technologies Department head, Ministry of the Economy and Foreign Trade, Grand Duchy of Luxembourg
• Albert A. Luderer, Ph.D., CEO, Integrated Diagnostics
• Jay Moyes, M.B.A., past CFO, Myriad Genetics
• Arnold Oronsky, Ph.D., general partner, InterWest Partners