DENVER, Colorado — January 6, 2021 —Theralink Technologies (OTC: OBMP) (“Theralink” or the “Company”), a molecular profiling company specializing in patented, biomarker assay services that target multiple areas of oncology, today issued a letter to shareholders from its President and CEO, Mick Ruxin, M.D., providing a 2020 year-end recap and vision for the path ahead in 2021.
2020 was a transformative year for Theralink Technologies. In June, we successfully closed OncBioMune Pharmaceuticals’ asset purchase of Avant Diagnostics and changed the corporate name to Theralink® Technologies Inc. In September, Theralink emerged as a proteomics-based, molecular profiling and precision medicine company targeting multiple areas of oncology and drug development. Going forward we will continue to work on several other key aspects of our evolution as a public company, including our stock symbol change and updated financial statements with the SEC, which we anticipate to all be completed during the first half of 2021.
In addition to my appointment as President and CEO, we have added experienced professionals to our leadership team through three key hires. We welcomed Kris Weinberg as Director of Commercial Oncology Markets, Michael Fanelli as Senior Director of Biopharma Commercial Operations and Tom Chilcott as Chief Financial Officer, who all bring extensive experience in their respective fields and have hit the ground running as part of our team.
Over the past six-months, we have worked diligently to lay the foundation for our growth in 2021. Notably, we received Clinical Laboratory Improvement Amendments (CLIA) certification for our Golden, Colorado laboratory, which took two years to achieve. CLIA certification enables us to expand our testing capabilities and we will soon begin receiving, testing and billing for patient’s breast cancer tumor specimens.
As part of our growth strategy ahead, we have established several strategic agreements:
In July, we announced a multi-year strategic agreement with VieCure™, the developer of the proprietary VieCure™ platform, a real-time decision-support system that combines clinical knowledge with patient data to assist oncologists in generating personalized treatment plans and managing a patient’s care throughout his or her cancer therapy. Through our agreement, VieCure’s physician network has access to Theralink’s generation of testing for cancer patients, extending VieCure™’s genomics platform to now include phosphoprotein and protein-based information. We believe that the potential reach of their physician network leveraging our assay is substantial.
In September, we announced our translational research collaboration with BioMed Valley Discoveries (BVD) to provide Laser Capture Microdissection (LCM) and Reverse Phase Protein Array (RPPA) services to assist BVD with translational research. We believe that this research could potentially improve treatment outcomes and quality of life for all cancer patients.
In November 2020, we announced our agreement with Perthera, a market leader in Precision Oncology technology and services whose platform has been utilized by over 250 cancer care sites. The alliance was formed to facilitate and accelerate access to Theralink’s 32 phosphoprotein panel, the Theralink® assay, across Perthera’s wide reach in the U.S. for breast cancer patients and the oncologists who treat them.
With many key milestones under our belt for 2020, there remains no shortage of opportunity as we head into 2021. In addition to the signing of our translational research collaboration with BioMed Valley Discoveries in September 2020, we have successfully signed multiple other biopharma collaboration agreements to date, all of which are generating revenue. In 2021, we not only expect to expand these existing relationships, but we will also continue to sign multiple other collaborative agreements.
Thank you for your continued support and commitment. The Theralink team looks forward to a prosperous 2021!
Mick Ruxin, M.D.
President and CEO
- OncBioMune Pharmaceuticals closed the asset purchase of Avant Diagnostics in June 2020 – link
- In September 2020, the Company received Clinical Laboratory Improvement Amendments (CLIA) certification for its Golden, Colorado laboratory, retroactively effective as of January 8, 2020 – link
- As of Thursday, September 24, 2020 the Company completed its corporate name change to Theralink Technologies, Inc. – link
- In June 2020, we appointed Mick Ruxin, M.D. as President & CEO and Jeffrey Busch as Chairman of the Board – link
- Also In June 2020, we appointed Kris Weinberg as Director, Oncology Commercial Markets. Mr. Weinberg has 20 years of experience in the commercial aspects of cancer molecular diagnostics, leading the launch and adoption of oncology assays including OncoType Dx and Guardant 360. Prior to TheraLink, he was commercial lead for TGen’s CLIA NGS laboratory (Ashion) and Natera’s oncology division. Also, Mr. Weinberg has previous public company experience at IMPATH, Genomic Health and Guardant Health.
- In July 2020, we appointed Michael Fanelli as Senior Director of Biopharma Commercial Operations – link
- In September 2020, we appointed Thomas E. Chilcott, III CPA as Chief Financial Officer – link
- In July 2020, the Company signed a mutli-year strategic agreement with VieCure™ to enhance personalized cancer treatment in community oncology settings – link
- In September 2020, the Company announced its translational research collaboration with BioMed Valley Discoveries (BVD) to provide Laser Capture Microdissection (LCM) and Reverse Phase Protein Array (RPPA) services to assist BVD with translational research pertaining to first-in-class and best-in-class ERK 1/2 Inhibitor – Ulixertinib (BVD-523) – link
- In November 2020, the Company announced its agreement with Perthera, a market leader in Precision Oncology technology and services. The alliance was formed to facilitate and accelerate access to Theralink’s 32 phosphoprotein panel, the Theralink assay, across the U.S. for breast cancer patients – link
About Theralink Technologies, Inc.
Theralink® Technologies is a proteomics-based, molecular profiling and precision medicine company with a CLIA-certified laboratory located in Golden, Colorado. Through its unique and patented phosphoprotein and protein biomarker platform and LDTs, Theralink’s technology targets multiple areas of oncology and drug development. Theralink provides precision oncology data through its powerful Theralink® Reverse Phase Protein Array (RPPA) assays to assist the biopharmaceutical industry and clinical oncologists in identifying likely responders and non-responders to both FDA-approved and investigational drug treatments. Theralink intends to help improve cancer outcomes for patients, reveal therapeutic options for oncologists, and support biopharmaceutical drug development by using a beyond-genomics approach to molecular profiling that directly measures drug target levels and activity. For more information, please visit www.theralink.com.
Theralink Technologies, Inc.
KCSA Strategic Communications
Valter Pinto, Managing Director
Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, anything relating or referring to future financial results, patient enrollment and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by Theralink Technologies with the Securities and Exchange Commission. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business and although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof.