San Diego, CA, March 14, 2023 (GLOBE NEWSWIRE) -- Mindera Health, the developer of Mind.Px™, the first realization of precision medicine in psoriasis, has appointed Mr. Linh H. Le as Chief Financial Officer and Chief Operating Officer. He will be responsible for all financial activities as well as many operational functions to enable a scalable strategy as Mindera expands its reach.
Mr. Linh H. Le brings more than two decades of work experiences in the healthcare space, stemming from several industry sectors including molecular diagnostics, infectious diseases, and medical devices. He comes to Mindera from Predicine, where he served as Chief Financial Officer, leading key financial and infrastructure changes that enabled scalability and operational excellence across the enterprise. His prior experience includes Ambry Genetics, where he was Chief Operating Officer, and Medtronic Diabetes Group, where he has held various leadership positions of increased responsibilities over a span of fourteen years. Before his time at Medtronic, Linh’s experiences include leadership roles at the Walt Disney Company and management advisory services with PricewaterhouseCoopers. Lastly, Linh began his professional career in the assurance practice of KPMG, providing attestation services in the healthcare and technology practices where he earned his CPA designation. Linh was named LA Times CFO of the year in 2022.
The cost burden due to specialty drug spending on biologics prescribed to treat moderate-to-severe psoriasis in the United States is substantial. Estimated healthcare costs for treating this three percent[i] of the population exceeds $110 billion annually.ii Specialty drug spending for psoriasis is escalating at exponential rates and biologics are often identified by payers as being one of their top drug expenditures each year.[ii]I Furthermore, successful patient responses to currently available biologic treatments are roughly 52 percentiv, leading to trial-and-error patient treatments and increased healthcare costs.
Mind.Px is a predictive test using a patented dermal biomarker patch that allows for rapid and painless extraction of mRNA from skin, followed by transcriptomic analysis and machine learning-derived classifiers to provide actionable results for clinicians with >92 percent positive predictive valuev. Incorporation of this precision medicine test to match the individual patient to the right drug class before treatment begins lowers costs and improves patient outcomes.s
“We are pleased to add a highly experienced professional to our Executive Team,” says George Mahaffey, President and CEO of Mindera Health. “Linh’s very successful track record and intimate familiarity with diagnostic reimbursent environments are valued additions to our team.”
“Joining Mindera at this exciting stage of commercial and corporate development is a wonderful opportunity,” says Mr. Le. “I look forward to bringing my experience to this seasoned commercial team to continue and accelerate market adoption of Mind.Px. Together, we will revolutionize healthcare in a meaningful way by improving the quality of life for our patients through precision medicine.”
About Mind.Px™
Mind.Px is the flagship test of Mindera Health, designed to prospectively predict a patient’s response to expensive biologic drug classes prior to therapeutic selection and treatment. Using a scalable, minimally invasive dermal biomarker patch that captures over 7,000 biomarkers per sample along with data analytics, Mind.Px materially improves patient outcomes and significantly reduces healthcare system costs of expensive biologic treatments.
About Mindera Health
Mindera Health is a private San Diego-area company developing and commercializing next-generation medical technology to enable a new era of skin analytics at the molecular level. Using a proprietary dermal biomarker patch, next-generation sequencing, and machine learning, Mindera Health technology generates clinically validated data to reduce healthcare system costs and improve patient outcomes. Mindera Health is a CLIA and CAP certified laboratory and has received ISO 13485:2016 certification. Find out more at www.minderahealth.com.
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I Menter A, Strober BE, Kaplan DH, et al. Joint AAD-NPF guidelines of care for the management and treatment of psoriasis with biologics. J Am Acad Dermatol. 2019;80(4):1029-1072. doi:10.1016/j.jaad.2018.11.057.
ii Pilon D, Teeple A, Zhdanava M, et al. The economic burden of psoriasis with high comorbidity among privately insured patients in the United States. J Med Econ. 2019;22(2):196-203. doi:10.1080/13696998.2018.1557201.
ii[i] Source: Prime Therapeutics 2012-2015 and 2019-2020 posters entitled “Prevalence and Cost of Autoimmune Specialty Drug Use by Indication.”
[i]v Enos CW, et al. Psoriasis severity, comorbidities, and treatment response differ among geographic regions in the United States. JID Innovations. 2021;1:100025.
V Mindera Health. Data on file.
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George Mahaffey Mindera Health (858) 810-6070 george.mahaffey@minderahealth.com
