Aditxt’s Precision Health Subsidiary, Pearsanta, Appoints Christopher Mitton as President as it Seeks to Complete Clinical Validation Studies for its Mitomic? Endometriosis Test (MET?) and Mitomic? Prostate Test (MPT?)
MOUNTAIN VIEW, Calif., August 26, 2024--(BUSINESS WIRE)--Aditxt, Inc. ("Aditxt" or the "Company") (NASDAQ: ADTX), an innovation platform dedicated to discovering, developing, and deploying promising health innovations, today announced that its subsidiary, Pearsanta, Inc. ("Pearsanta"), appointed Christoper Mitton as President.
Christopher Mitton brings over 20 years of leadership experience in the medical diagnostics industry, with a strong focus on personalized healthcare and molecular oncology diagnostics. He has a proven track record in building and leading successful commercial operations, underpinned by his deep expertise in product commercialization, business development, and strategic sales and marketing. Mr. Mitton continues to serve as Chief Executive Officer of MDNA Life Sciences, Inc.; before this, he headed sales operations at Cancer Genetics Inc., a commercial lab specializing in oncology. He led the North American commercial expansion for Ipsogen, a French molecular diagnostics company. Following Ipsogen’s acquisition by Qiagen, he managed Qiagen's entire personalized healthcare portfolio, driving significant advancements in precision diagnostics. Earlier in his career, Mr. Mitton held key sales positions with BioChem Immunosystems, Abbott Diagnostics, and Bayer Healthcare. He earned his B.S. in Molecular Biology from Florida A&M University.
Pearsanta, a majority owned Aditxt subsidiary, focuses on precision health. It specializes in developing diagnostic tests that address critical health challenges, particularly in cancer, cardiology, immunology, gut health and chronic conditions. Pearsanta’s proprietary platforms, Mitomic? Technology, and AditxtScore?, are dedicated to early disease detection and personalized treatment strategies. By advancing innovations in diagnostic technologies, Pearsanta aims to empower patients and healthcare providers to make more informed, personalized healthcare decisions.
Pearsanta is at the forefront of transforming disease detection and management through its innovative technologies. Central to this effort is the proprietary Mitomic? Technology Platform, which harnesses the unique properties of mitochondrial DNA (mtDNA) to identify specific mutations linked to various diseases through non-invasive, blood-based liquid biopsies. With its high mutation rate and persistence in cells, mtDNA serves as a unique biosensor suited for early disease detection, enabling the rapid and accurate identification of disease-associated biomarkers. The Mitomic? Technology Platform supports a robust biomarker portfolio that addresses numerous high-priority health concerns, including prostate, ovarian, and lung cancers and non-cancerous conditions like endometriosis.
In addition, Pearsanta is advancing the AditxtScore? Technology Platform, which provides comprehensive immune system profiling. This platform allows for the monitoring of immune responses to various agents, including viruses, bacteria, and transplanted organs, as well as responses to therapeutic interventions. Together, these technologies position Pearsanta to transform the diagnosis and management of diseases, set new standards in precision healthcare, and significantly improve patient outcomes across a broad spectrum of medical conditions.
Under Christopher Mitton’s leadership, Pearsanta will prepare for its strategic commercial rollout. Pearsanta is seeking to complete clinical validation studies for its Mitomic? Endometriosis Test (MET?) and Mitomic? Prostate Test (MPT?), with a commercial launch planned as laboratory developed tests (LDTs) validated in Pearsanta’s CLIA CAP-certified lab in Richmond, VA, and an ISO 15189 UKAS-accredited lab in the UK. Additionally, Pearsanta is seeking to finalize the validation study for the Mitomic? Ovarian Test (MOT?) for ovarian cancer.
Pearsanta’s go-to-market strategy will seek to leverage existing partnerships and capitalize on internal synergies within the Aditxt platform to drive revenue potential and accelerate test adoption. Aditxt is seeking to position Pearsanta for global expansion, with potential channel partners to launch Pearsanta’s products outside the U.S. Pearsanta will also utilize its established sales channels to support the launch of its endometriosis test and other products in the pipeline in the U.S.
Pearsanta envisions a seismic shift in the global landscape of disease detection and diagnosis underpinned by advancements in precision medicine, including liquid biopsy technologies. As highlighted by Fortune Business Inside, the liquid biopsy sector is poised for exponential growth and is expected to surge from $8.01 billion in 2023 to $34.71 billion by 2030. The World Health Organization (WHO) emphasizes the significant prevalence of endometriosis, impacting roughly 1 in 10 women of reproductive age worldwide. The significant prevalence of endometriosis and ovarian cancer, affecting women globally, underscores the far-reaching potential implications and the need for advanced diagnostic techniques. Furthermore, in 2023, the American Cancer Society anticipates around 288,300 new cases of prostate cancer in the United States alone. On a global scale, 2020 witnessed approximately 1,414,259 new prostate cancer diagnoses. Pearsanta is seeking to address a need for tests that can improve the identification of clinically significant prostate cancer for men in the prostate-specific antigen grey zone, which could enhance decision-making regarding the need and frequency of biopsies.
"We believe that Pearsanta is at the forefront of personalized health, developing diagnostic innovations that have the potential to improve patient care significantly," said Christopher Mitton. "I’m eager to step into this role and lead the talented teams at Pearsanta as we work to redefine what's possible in precision health and deliver transformative outcomes for our patients."
Amro Albanna, Co-Founder, Chairman, and CEO of Aditxt, "We are thrilled to welcome Chris to Pearsanta at this pivotal moment. Our mission at Aditxt is to build and accelerate companies focusing on innovative health solutions that tackle some of the most critical challenges in healthcare. We believe that Chris’s leadership will be key as we seek to drive the commercial success of Pearsanta, advancing breakthrough innovations and creating value for all stakeholders. We feel strongly that his personalized healthcare and commercial strategy expertise make him the ideal leader to guide Pearsanta's next growth phase as we accelerate our precision health initiatives."
Aditxt currently operates two programs focused on immune health and precision health. Following the completion of the Appili Therapeutics Inc. (TSX: APLI; OTCPink: APLIF) and Evofem Biosciences, Inc. (OTCQB: EVFM) transactions, Aditxt will introduce two additional programs dedicated to public health and women's health. Each program is designed to function autonomously while collectively advancing Aditxt’s mission of discovering, developing, and deploying innovative health solutions to tackle some of the most urgent health challenges. The closing of each of these transactions is subject to several conditions, including but not limited to approval of the transactions by the respective target shareholders and Aditxt raising sufficient capital to fund its obligations at closing. No assurance can be provided that all of the conditions to closing will be obtained or satisfied or that either of the transactions will ultimately close.
About Aditxt, Inc.
Aditxt, Inc.? is an innovation platform dedicated to discovering, developing, and deploying promising health innovations. Aditxt’s ecosystem of research institutions, industry partners, and shareholders collaboratively drives their mission to "Make Promising Innovations Possible Together." The innovation platform is the cornerstone of Aditxt’s strategy, where multiple disciplines drive disruptive growth and address significant societal challenges. Aditxt operates a unique model that democratizes innovation, ensures every stakeholder’s voice is heard and valued and empowers collective progress.
Aditxt has a diverse innovation portfolio, including Adimune?, Inc., which is leading the charge in developing a novel class of therapeutics for retraining the immune system to combat organ rejection, autoimmunity, and allergies. Adivir?, Inc. focuses on enhancing national and population health and impacting public health globally. Pearsanta?, Inc., delivers rapid, personalized, and high-quality lab testing accessible anytime, anywhere, led by its CLIA-certified and CAP-accredited clinical laboratory based in Richmond, VA.
Certain statements in this press release constitute "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements include statements regarding the Company’s intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the Company’s ongoing and planned product and business development; the Company’s ability to finance and execute on its strategic M&A initiatives; the Company’s ability to obtain the necessary funding and partners to commence clinical trials and clinical validation studies; the Company’s intellectual property position; the Company’s ability to develop commercial functions; expectations regarding product launch and revenue; the Company’s results of operations, cash needs, spending, financial condition, liquidity, prospects, growth and strategies; the Company’s ability to raise additional capital; the industry in which the Company operates; and the trends that may affect the industry or the Company. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, as well as market and other conditions and those risks more fully discussed in the section titled "Risk Factors" in the Aditxt’s most recent Annual Report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s other filings with the Securities and Exchange Commission. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.