Strategic Additions Bring Global Operations and Commercialization Expertise
San Diego, Calif. —April 13, 2018— Biological Dynamics, a company committed to improving global health outcomes by empowering global communities with low-cost, accessible cancer diagnostics, today announced two additions to its Board of Directors. Irwin Jacobs, founding Chairman and CEO Emeritus of Qualcomm and Chairman Emeritus of the Salk Institute for Biological Studies, and Martin J. Wygod, the founder of Medco Containment Services Inc. and former Chairman of WebMD Health Corp., have joined Biological Dynamics’ Board of Directors.
“Irwin and Marty will provide valuable strategic guidance and insight as we transition Biological Dynamics to a commercial-stage company with global reach. We are grateful for their support and confidence in our team, technology, and vision for the field of oncology,” said Raj Krishnan, Ph.D., CEO of Biological Dynamics. “I am excited and honored to have both individuals join our board as we introduce our breakthrough technology.”
As co-founder of Qualcomm, Jacobs led the commercialization of CDMA, a key technological component of advanced voice and data wireless communications now used by hundreds of millions of consumers worldwide. Jacobs’ stellar achievements in communications technology began during his tenure as an associate professor at MIT, where he received his Sc.D. in Electrical Engineering in 1959 and developed a life-long passion for information theory. He has received numerous recognitions and awards, including the National Medal of Technology, the IEEE Alexander Graham Bell medal, and the Franklin Institute Bower Award in Business Leadership.
“As one of our earliest investors, Irwin has a deep understanding of our ability to transform the way cancer is detected and diagnosed. His experience and insight, which helped make the smartphone the world’s most ubiquitous platform, will be incredibly valuable as we plan to introduce portable molecular testing into the home,” said Krishnan.
As the founder of Medco Containment Services, Wygod pioneered the pharmacy benefit management (PBM) industry and reduced the cost of prescription drugs while improving patient health outcomes. Medco was the largest PBM company when it was acquired by Merck in 1993 for $6 billion. Most recently, Wygod was the Chairman of the Board of WebMD Health for over 15 years. Under his direction, WebMD became the leading source of health information services for consumers, healthcare professionals, employers, and health plans and a valued partner to many pharmaceutical, medical device companies, and health plans. WebMD was acquired by a KKR portfolio company for $2.8 billion in 2017.
“Marty’s experience in commercializing new business models in the healthcare industry will be invaluable as we look to speed the adoption of our medical cost-reducing technology and bring significant value to our patients and physicians by providing better healthcare outcomes,” said Krishnan.
“Biological Dynamics is poised to bring a revolutionary change to human health with technology that can save many lives and help bring down healthcare costs,” said Jacobs. “I am excited to join the Board of Directors and look forward to working with Raj and his team to bring this technology to the world.”
“Biological Dynamics has truly foundational technology that represents an important and unparalleled opportunity to diagnose cancer and other disease categories at earlier stages and much more cost effectively than current diagnostic tests. I am enthusiastic about the opportunity to join the company’s Board of Directors,” said Wygod.
About Biological Dynamics
Biological Dynamics is an innovative diagnostic company committed to improving global cancer outcomes by empowering healthcare communities with low-cost, accessible cancer diagnostics for labs and homes. The company’s lab-on-a-chip platform offers a novel way to isolate cell-free nanoparticles and macromolecules directly from whole blood, serum, or plasma. The company is developing a suite of novel oncology tests for early cancer detection, treatment response, and recurrence monitoring. In addition to lab-focused products, the company is also developing a smartphone-enabled portable version of the platform, extending molecular testing into homes. For more information visit us at www.biologicaldynamics.com and follow us at @BiodynSD on Twitter.