PrognomiQ

Key People

• Philip Ma, PhD - Chief Executive Officer & Director
• Joel Kaufman - Chief Financial Officer
• Katherine Dalao - Vice President, Quality Assurance and Clinical Lab Affairs
• Manway Liu, PhD - Vice President, Data Sciences
• Madhuvanthi Ramaih, PhD - Vice President, Product Management and Project Management Office

Assessment

Team

Aspect: First-time 10+ yrs
Summary: Leadership team with extensive experience in diagnostics and biotech.

PrognomiQ's leadership includes individuals with significant experience in diagnostics and biotechnology. For instance, CEO Philip Ma has a background in digital health technologies and data sciences, and CFO Joel Kaufman has held leadership roles in molecular diagnostics companies. This depth of experience positions the company well for navigating the complexities of product development and commercialization.

Clinical Need

Aspect: Very Strong
Summary: High demand for early lung cancer detection solutions.

Lung cancer remains the leading cause of cancer-related deaths worldwide. Early detection significantly improves survival rates, yet current screening methods are underutilized. PrognomiQ's development of a blood-based early detection test for lung cancer addresses this critical unmet need, potentially improving screening rates and patient outcomes.

Competition

Aspect: Very crowded + Strategics
Summary: Operating in a competitive diagnostics market with established players.

The biotechnology and diagnostics sectors are highly competitive, with established companies like Roche, Thermo Fisher Scientific, and Abbott Laboratories holding significant market shares. PrognomiQ must effectively differentiate its products and establish a strong brand presence to compete successfully in this crowded landscape.

Technical Challenge

Aspect: Predictable
Summary: Utilizing established multi-omics technologies for diagnostics.

PrognomiQ's approach involves integrating proteomics, genomics, and metabolomics technologies to develop diagnostic tests. While this integration is complex, the individual technologies are well-established, making the technical challenges more predictable and manageable.

Patent

Aspect: Strong
Summary: Access to a robust patent portfolio through licensing agreements.

PrognomiQ has non-exclusively licensed certain patents and patent applications from Seer, Inc., including those related to methods for identifying biological states using nanoparticle compositions. This access to intellectual property supports the company's product development efforts.

Financing

Aspect: Well-funded
Summary: Secured over $135 million in funding since inception.

Since its founding in 2020, PrognomiQ has raised more than $135 million, including a $34 million Series D financing round led by Seer, Inc. This substantial funding enables the company to advance its product development and commercialization efforts.

Regulatory

Aspect: Running FIH
Summary: Conducting large-scale studies to support regulatory submissions.

PrognomiQ is enrolling participants in a 15,000-subject lung cancer study initiated in 2023 to support registration of its in vitro diagnostic (IVD) test. The company has also been granted a Clinical Laboratory Improvement Amendment (CLIA) license, indicating progress in meeting regulatory requirements.

Opportunity Rollup

Odds of Success

3.2

Peak Market Share

4.05

Segment CAGR

1.9%

Market Segment

In Vitro Diagnostics

Market Sub Segment

Oncology Diagnostics

Key Takeaway

PrognomiQ is well-positioned to address the critical need for early lung cancer detection through its multi-omics platform, supported by experienced leadership and substantial funding, though it faces challenges in a competitive and complex regulatory landscape.