OvaGene Oncology Inc
Irvine, CA 92618, US
Medical Devices & Equipment
OvaGene is an in-revenue growth company that develops and commercializes Molecular Diagnostics for women suffering from gynecologic cancers (ovarian, uterine and cervical cancers) and pre-cancer gynecologic conditions, a $1.2 Billion market niche with huge unmet needs. We focus on helping physicians with the diagnosis, prognosis, and selection of therapy for these difficult conditions. Our tests serve to lower toxicity exposure, avoid wasted time and the financial burden of ineffective chemotherapies.
Our experienced, passionate management team started OvaGene in Irvine, CA in 2010 after the successful sale of our previous company, Oncotech, in 2008. OvaGene’s Founders have invested $1.8+Million in the initial capitalization of the company. We have established a state of the art Research Lab and CLIA approved, CAP certified fully functioning Clinical Laboratory with total capitalization of $5 Million . Five tests are now sold regionally in FL & SoCal with active sales from Korea as well. Sales have tripled the past Q with initial revenues and the excellent support of recurring sales from early adopting gynecologic oncology physician leaders. Two new diagnostic tests will be launched in 2014. We have a strong proprietary pipeline with validation studies now underway at leading academic Cancer Centers.
We expect cash flow positivity in 2015 and an exit opportunity for our investors in 15 to 24 months.
OvaGene is seeking $500,000 of Convertible Debenture funding (12% interest and 50% warrant coverage) to support the AR process, expand Sales & Marketing, support an additional new test launch in 4Q2014 and implement cost saving technologies that further strengthen our high direct test margins.
Products / Services
GENE Based Panels for Drug Selection: OvariGENE™, EndoGENE™, CerviGENE™ and Kay’s Array™
OvaGene currently offers 4 gene based assays that provide quantitative gene expression analysis of a patient’s tumor giving the treating gynecologic oncology physician specific actionable information to make an informed chemotherapy selection, leading to a higher likelihood of improved drug response in the setting of advanced, recurrent cancer. The goal of the testing is to decrease the toxicity, wasted precious patient time and the financial burden of ineffective therapies and increase the likelihood of receiving effective treatments, thereby improving the cancer patient’s Quality of Life.
OvaTOX™ Mutation PROFILE
A molecular blood test to determine the genetic risk of developing serious toxicities to the standard, commonly given chemotherapy drugs used in treating gynecologic cancers. Knowing the genetic predisposition to toxicities allows the physician to alter dosing or switch to a less toxic drug, also saving the patient and the health care system the considerable costs of treating these side effects. OvaTOX will be launched in the clinic in 4Q2014.
Executive Vice President Business Development
Jay Coonan MD
Jay E. Coonan, M.D.
Founder, Director, Executive Vice-President, Strategy and Business Development.
Dr. Coonan has broad experience in the life sciences and health care delivery sectors. He worked in Business Development for Oncotech Inc. and was Director of Medical Affairs and Business Development for OmegaTech Inc. Dr. Coonan served as Executive Vice President and Chief Medical Officer for Exempla Healthcare Inc., a Denver CO hospital system. As a Board-certified Gastroenterologist, he ran an active clinical practice of Gastroenterology in Colorado for over 25 years, also serving as Associate Clinical Professor of Medicine at the University of Colorado School of Medicine. Dr. Coonan obtained his M.D. at the University of Minnesota School of Medicine.
Chief Executive Officer
Frank Kiesner JD
Frank J. Kiesner, J.D.
Founder, Chairman and CEO.
Mr. Kiesner served as Chairman, President and CEO of Oncotech Inc. for 17 years. Mr. Kiesner was previously a partner at Northstar Ventures, General Council and Treasurer of ADC Telecommunications (a multi-billion dollar public company) and President of ADC Corporation’s Magnetic Division. He served on multiple committees and boards for the American Laboratory Association and has extensive experience in the regional, federal and congressional workings of health care reimbursement. Working with Congressman Bill Thomas, Chairman of the Congress’s Ways and Means Sub-Committee on Health, Mr. Kiesner was the leading force behind the passage of the “Patients Benefit Improvement Act Of 1999” which rewrote the new technology approval and patient-provider appellate process for the Medicare and other federal Statutory Programs. Mr. Kiesner obtained his J.D. from the University of Minnesota School of Law.
William Ricketts Ph.D.
Founder, Chief Scientific Officer.
Dr. Ricketts most recently served as Vice President of Clinical and Scientific Affairs for Exiqon Diagnostics. He was Chief Scientific Officer and Vice President of Research for Oncotech Inc. until its acquisition by Exiqon in 2008. Previously, Dr. Ricketts was Project Leader for oncology drug discovery at Valeant Pharmaceuticals. He did postdoctoral work on drug and target discovery at Isis Pharmaceuticals after completing his Ph.D in Biomedical Sciences from the University of California, San Diego.
Vice President Operations
Denise Chua MBA
Denise A. Chua, MBA, MT (ASCP), CLS.
Founder, Vice-President of Clinical Operations and Marketing.
Ms. Chua has over 20 years of experience in the healthcare industry, including over 10 years of successful marketing management in the biotechnology and clinical diagnostics industry. In addition to being an experienced marketing professional, she is also a microbiologist and a licensed clinical laboratory scientist from which she has gained a detailed understanding of the science behind clinical assays and gene-based tests. Ms. Chua received her MBA in Marketing from Loyola Marymount University, and has an undergraduate degree in Microbiology from California State University, Long Beach. Ms. Chua completed her clinical laboratory training at Cedars-Sinai Medical Center, Department of Pathology. Ms. Chua is very passionate about the field of gynecologic oncology and is committed to bringing life-changing diagnostics from concept to bedside for treating physicians and their patients.