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personalized medicine

  • sam patrick posted an article
    Thorne HealthTech named an Official US Rowing Partner see more

    USRowing is pleased to announce that Thorne HealthTech (NASDAQ: THRN) has signed on as an Official USRowing Partner and the Exclusive Supplement Supplier for the U.S. National Team for 2022, 2023, and 2024.

    "We are so pleased to sign on Thorne as the Exclusive Supplement Provider for the U.S. National Team," said USRowing CEO, Amanda Kraus. "Thorne has an exceptional reputation in the supplement and wellness space and their commitment to research and development is in line with USRowing's values of excellence, performance, and safety." 

    "We continue to take great pride in supporting, educating, and providing personalized health and wellness solutions to multiple U.S. National teams over the years," said Paul Jacobson, CEO of Thorne HealthTech. "Our partnership with USRowing will help athletes integrate nutritional supplementation into their health and wellness regimens to support their peak performance goals. Time and time again, we see how important it is for athletes to know exactly what they are putting in their bodies, and we are proud to provide USRowing with high-quality, NSF Certified for Sport nutritional supplements."

    Throughout the partnership, Thorne will provide USRowing with its high-quality products and resources to support the overall performance of the U.S. National Team's athletes, as well as USRowing's support staff and USRowing members. To learn more about Thorne and their suite of product solutions, visit Thorne.com.
     

    About Thorne HealthTech:

    Thorne HealthTech is a leader in developing innovative solutions for delivering personalized approaches to health and well-being. As a science-driven wellness company that empowers individuals with the support, education, and solutions they need to achieve healthy aging – living healthier longer – Thorne utilizes testing and data to create improved product efficacy and to deliver personalized solutions to consumers, health professionals, and corporations. Predicated on the power of the individual, Thorne leverages artificial intelligence models to provide insights and personalized data, products, and services that help individuals take a proactive and actionable approach to improve and maintain their health and wellness over a lifetime. Thorne is the only supplement manufacturer that collaborates with Mayo Clinic on wellness research and content and is trusted by more than four million customers, 45,000 health professionals, thousands of professional athletes, more than 100 professional sports teams, and 12 U.S. National teams. For more information, visit Thorne.com.

    About USRowing

    USRowing is a nonprofit organization recognized by the United States Olympic & Paralympic Committee as the governing body for the sport of rowing in the United States. USRowing has 83,000 individual members and 1,350 member organizations, offering rowing programs for all.

  • sam patrick posted an article
    Thorne undertakes IPO for growth in SC see more

    Compliments of Post and Courier

    A life-science company that packed up shop and moved the bulk of its business to the South Carolina coast from the mountainous West a few years ago has taken another big leap.

    Only not quite as big as it had hoped.

    Supplements researcher and manufacturer Thorne HealthTech Inc. launched its initial public offering last week, but not before dramatically downsizing the size of the deal.

    The company had been hoping to haul in as much as $135 million by selling shares for as much as $15 each. It backed off that number last week and ended up raising $70 million. 

    The Nasdaq-listed shares started trading when the opening bell rang Thursday under the symbol “THRN” and stumbled badly out of the gate, falling 24 percent by the end of the session.

    It was a decidedly chilly market debut for a company that’s aiming to make deeper inroads into the growing and highly fragmented personal health-and-wellness industry, where no single player has amassed more than 5 percent of the market, according to Thorne’s calculations. A report by Grand View Research earlier this year forecast the size of the dietary supplement business to nearly double to $271 billion by 2028 from $140.3 billion in 2020.

    Against that backdrop, Thorne said its goal is to redefine “consumer health and building a brand with science-backed personalized products that meet the highest standards of quality, safety and efficacy.”

    “We have a significant opportunity to continue to penetrate the product categories and channels we compete in today,’” according to its IPO filings.

    The stock offering is the latest step in that plan. Up to $20 million of investor proceeds. along with existing cash reserves, will fund the development and testing of new dietary supplements as well as the company’s recently acquired Onegivity Health clinical research platform. As much as $30 million will go toward sales and marketing initiatives and Thorne’s expansion into new global locations. The rest will be used to pay off debt from a Japanese lender that matures next year and for other general purposes.

    “Our organization has never been more excited about the future growth potential for and impact of our company as we are today,” CEO Paul Jacobson wrote in a letter to prospective investors.

    While it lists New York City as its home office, Thorne is essentially a South Carolina business. 

    It was nearly five years ago when the company announced plans to move most of its key operations to a new 270,000-square-foot building in Summerville from northern Idaho. The deal included a $35 million capital investment and 350 jobs of all varieties. 

    “This facility consists of manufacturing and production, research and development, medical affairs, engineering, quality management, laboratory testing, brand marketing, inside sales, customer service, finance, legal, human resources, warehousing and materials management, procurement and safety functions,” Thorne said in a recent filing with the Securities and Exchange Commission.  

    It also noted that it recently inked a new five-year lease for an additional 115,500 square feet of storage and distribution space in Summerville.

    “This will expand our finished goods warehousing and shipping capabilities to the eastern United States and international markets,” the company said.

    The business went by Thorne Research when it embarked on its cross-country relocation quest in 2014. By then, it had outgrown its manufacturing base in Sandpoint, Idaho, and wasn’t sure it could add onto its building or even extend its lease. Over the next two years, it scouted dozens of sites around the country. The Lowcountry and York County near Charlotte emerged as the two top contenders.

    Jacobson thought the Charleston region would be appealing to customers and other visitors. Also, Thorne thought it was a plus that the area was growing and home to several colleges, an established medical research community and a major U.S. seaport.

    “It didn’t hurt any that Charleston is a culturally diverse and interesting place,” Jacobson said in a 2016 interview. “That’s important to us because it allows us to attract the kind of people we want to recruit.”

    The former Goldman Sachs banker forged an equally unconventional path to the corner office at Thorne, which was started in Seattle in 1984 and relocated six years later to Sandpoint, not far from Spokane in eastern Washington. He recounted in his investor letter how he came to acquire the business with some partners in 2010, inspired in part by a former drug industry boss he met while serving on a board of directors.

    “He was tired of me asking how big pharma could turn compounds that barely outperformed placebo or natural products into multibillion-dollar drugs, and one day turned to me and said, ‘If you think you’re so smart, go start a natural products company.’ He said that in order to do it right we would need to compile clinical data to demonstrate the efficacy of a more natural approach to health. ... This sparked my interest to determine whether he was correct, driving me to spend several years researching the natural product industry,” Jacobson wrote.

    Thorne now develops, manufactures and ships about 300 different supplements, health testing kits and other wellness products that it sells to 3 million customers through wholesalers, retail stores, online resellers and a growing subscription business. The company also said it works with 42,000 health care professionals and thousands of pro athletes.

    The IPO documents put some hard numbers on the Thorne’s financial trajectory. 

    Sales jumped 35 percent last year to $138.5 million, suggesting the company benefited from the health-and-fitness boom that emerged during the COVID-19 crisis.

    And while Thorne hasn’t turned a net profit on an annual basis — it lost $4 million last year — it was in the black as of June 30 by a margin of $4.4 million. Meanwhile, revenue continues to climb sharply, rising 38 percent from the first six months to $87.4 million.

    “We have experienced significant sales growth of our supplements and health tests through the acquisition of new customers and strong customer retention,” Thorne said.

    While its debut on Wall Street was a bit on the cold side, Wall Street appeared to warm up a bit to the newcomer on its second day in the public markets. Shares rebounded 10 percent Friday to close at $8.35. 

     September 27, 2021
  • sam patrick posted an article
    Cancer testing innovator KIYATEC fits investor’s focus in disruptive healthcare technology see more

    KIYATEC, Inc. announced today that it secured a $2.5 million investment from Boston-based healthcare service and technology venture capital fund Seae Ventures. The fund’s focus in disruptive healthcare technologies aligns with KIYATEC’s goal to fundamentally change the way cancer drugs are selected by providing oncologists with patient-specific evidence of response, prior to treatment initiation.

    Although significant strides toward personalized medicine have been achieved in the past two decades, oncologists remain largely unable to predict treatment response for individual patients. As a result, many patients receive ineffective drug therapies, while unnecessarily experiencing toxic side effects and shouldering high cost of treatment. KIYATEC’s 3D-Predict platform and associated tests increase the patient-centric value of cancer drugs by informing oncologists’ pre-treatment cancer drug selection. Importantly, the platform also aids pharmaceutical companies by improving decision-making across drug lifecycles.

    “We are grateful for Seae Venture’s ’yes’ to KIYATEC and welcome the addition of their managing partner, Jason Robart, to our board of directors. The fund’s healthcare industry relationships coupled with Jason’s personal experience with health insurance innovation will be beneficial as we implement our strategy to impact those who need it most – cancer patients and their providers,” said Matthew Gevaert, CEO and co-founder of KIYATEC.

    The investment comes on the heels of other recent announcements of success for KIYATEC. The first release of the 3D-PREDICT clinical study data in late 2020, combined with the more recent March 2021 publication demonstrating platform expansion into immuno-oncology, highlight the rapid and disruptive nature of KIYATEC’s progress. The company’s platform has been shown to be clinically predictive for patient-specific response to chemotherapy and targeted agents, and it has been analytically validated in both ovarian cancer and high-grade gliomas.

    Robart said, “KIYATEC has the potential to significantly improve outcomes for patients and their providers, not just for one cancer type, but across many solid tumors. We’re excited about the science, the team and the potential. We welcome KIYATEC into our portfolio of companies and I’m thrilled to join its board of directors.”

     

    About KIYATEC

    KIYATEC leverages its proprietary ex vivo 3D cell culture platforms to accurately model and predict response to approved and investigational cancer drugs targeting a spectrum of solid tumors. The platforms are positioned to address the gap-defining limitations of current cancer drug selection. The company’s Clinical Services business is currently engaged in the validation of clinical assays as well as investigator-initiated studies in ovarian cancer, breast cancer, glioblastoma and rare tumors, in its CLIA-certified laboratory. The company’s Drug Development Services business works in partnership with leading biopharmaceutical companies to unlock response dynamics for their investigational drug candidates across the majority of solid tumor types.

  • sam patrick posted an article
    Study to investigate potential impact to outcomes for several difficult-to-treat solid tumors see more

    3D-PREDICT Study to investigate potential impact to outcomes for several difficult-to-treat solid tumors

     

    GREENVILLE, SC. – June 20, 2018 – KIYATEC, Inc. today announced the enrollment of the first patients in a U.S. clinical study of its Ex Vivo 3D drug response assay (EV3D™) across several difficult-to-treat solid tumors. The 3D-PREDICT clinical study has been initiated at the Cancer Institute of Greenville Health System (GHS) with the goal of recruiting 640 patients across additional clinical sites to be added in the future.

    The 3D-PREDICT Study is a prospective, open-label, multi-institutional, non-interventional study to validate the EV3D assay for clinical use and to investigate the impact on outcomes for cancer patients with both newly diagnosed and recurrent epithelial ovarian cancer and recurrent high-grade gliomas, which include glioblastomas (GBM). Over the next year or so, the study will expand to include patients with newly diagnosed high-grade gliomas, high-grade rare tumors and triple negative breast cancer. The primary objectives of the study are to establish correlation between assay predicted drug response and patient clinical outcomes, and to measure the potential impact of the assay on therapeutic decision-making. The study is anticipated to continue through 2022. Details on the trial can be found on ClinicalTrials.gov

    The EV3D assay platform assesses a patient’s own cancer cells within a biologically relevant 3D culture microenvironment to provide individualized response prediction to specific therapeutic agents. In this study, the therapeutic agents predicted consist of available, guideline recommended drug options for each cancer type. 

    “As an institution, we’ve supported KIYATEC’s pilot clinical studies by providing over 450 samples of cancer tissues spanning the multiple tumor types they are testing and our clinical investigators are ready to take this important next step,” said Larry Gluck, MD, Medical Director of the GHS Cancer Institute. “Patients with recurrent ovarian cancer and recurrent GBM are among those with the most challenging prognosis at every cancer center around the country. The fact that KIYATEC is offering us a new tool in these very difficult to treat populations is a needle mover for these patients coming to Greenville for their treatment.”

    Patients with these kinds of newly diagnosed and recurrent cancers simply do not have the luxury of time on their side. Their time, health and money spent on a treatment that is not working can have devastating consequences that we all want to avoid,” said Matthew Gevaert, CEO of KIYATEC. “The commencement of this clinical trial builds upon the success of our pilot studies and represents a significant milestone toward our goal of helping cancer patients receive the best treatment at the earliest possible time.”


    About KIYATEC, Inc.

    KIYATEC is changing the future of cancer care by accurately predicting patient-specific response and non-response to chemotherapy drugs before treatment begins. Wasted time is the enemy of cancer patients and there is currently no way to accurately predict which cancer patients will respond to standard oncology treatments. KIYATEC has developed a validated process to use a cancer patient’s own live cells to accurately predict treatment response prior to beginning treatment.

     

    About Greenville Health System

    Greenville-based Greenville Health System (GHS) has partnered with Columbia-based Palmetto Health to form a not-for-profit health care delivery system serving 1.2 million patients annually across South Carolina. The new name and graphic identity are expected to be announced later this year. GHS offers patients an innovative network of clinical integration, expertise and technologies through its academic health system, eight medical campuses, tertiary medical center, research and education facilities, community hospitals, physician practices and numerous specialty services. GHS, by itself a 1,627-bed system, is home to 16 medical residency and fellowship programs, as well as partnership efforts such as the University of South Carolina School of Medicine Greenville and the soon-opening Clemson University Center for Nursing, Health Innovation and Research. Visit www.ghs.org for more information.