Sera Prognostics Announces Industrial Modifications and Actions to Optimize Organization for Industry Accomplishment Toward Accelerating Test Adoption and Income
Aligning Management Group offered New Refined Industrial Concentrate on Institutions Beginning with Current Appointment of Board Member Zhenya Lindgardt as Interim President and CEO
Engages Top Method Property to Evaluate Ideal Pathways Toward Targeting Enhanced Income Generation at Substantially Lowered Operating Expenses
Nadia Altomare Anticipated to Move from Chief Industrial Officer to Consulting Function to Assistance Driving Efficiency and Effectiveness in Our Industrial Devote in Partnership with Our External and Internal Group
SALT LAKE CITY, May perhaps 25, 2023 /PRNewswire/ — Sera Prognostics Inc., The Pregnancy Company® (NASDAQ: SERA), focused on enhancing maternal and neonatal overall health by giving revolutionary pregnancy biomarker information and facts to medical doctors and sufferers, right now announced particular industrial adjustments and plans to optimize its tactic and industrial structure to extremely concentrate organization activities on accelerating test adoption and income at considerably decreased operating fees.
These plans involve adjustments to improved align leadership with a new refined industrial concentrate on institutions and expense-efficiently accelerating test adoption and income in advance of upcoming information readouts. This procedure began with the current appointment of Board Member Zhenya Lindgardt, a seasoned organization operator for higher-development organizations, as interim President and CEO, announced on May perhaps 15, 2023.
Sera Prognostics has also engaged a major tactic home to rigorously evaluate the very best pathways toward enhanced income at considerably decreased expense to a lot more broadly commercialize the company’s PreTRM® Test and pipeline of technologies. This evaluation is anticipated to be inclusive of effective industry concentrate and prospective strategic partnerships. As element of this procedure, Nadia Altomare is anticipated to move from Chief Industrial Officer to a consulting function to help driving efficiency and effectiveness in our industrial commit in partnership with our external and internal group.
The Business has also produced choose headcount reductions at month finish in its industrial organization to improved map present industrial and promoting fees toward refined concentrate on these possibilities getting deemed as the most profitable in the close to-term from a test adoption and income generation viewpoint. Sera Prognostics is evaluating other methods to additional optimize its organization whilst lowering operating fees and safeguarding its sturdy balance sheet, which at the moment affords a sturdy foundation toward realization of the Company’s ambitions outlined right now coupled with targeting enhanced shareholder valuation.
“We are taking decisive and properly-defined methods to optimize for industry good results offered the macro atmosphere, whilst also taking into consideration the emerging function we seek to play in establishing our very first-of-its-type PreTRM test as a typical of care in safeguarding mothers and babies,” mentioned Sera Prognostics interim CEO, Zhenya Lindgardt. “Even though adjust is at instances difficult, we anticipate our actions will prove effective in supporting our objective to be The Pregnancy Business whilst fostering important development, and we are thankful for our team’s function in generating a paradigm shift in pregnancy care to build improved healthcare outcomes for expectant mothers and their kids.”
About Sera Prognostics, Inc.
Sera Prognostics is a major overall health diagnostics business committed to enhancing the lives of ladies and babies by way of precision pregnancy care. Sera’s mission is to offer early, pivotal pregnancy information and facts to increase the overall health of mothers and newborns, resulting in reductions in the fees of healthcare delivery. Sera has a robust pipeline of revolutionary diagnostic tests focused on the early prediction of preterm birth danger and other complications of pregnancy. Sera’s precision medicine PreTRM® Test reports to a doctor the individualized danger of spontaneous premature delivery in a pregnancy, enabling earlier proactive interventions in ladies with greater danger. Sera Prognostics is situated in Salt Lake City, Utah.
About Preterm Birth
Preterm birth is defined as any birth ahead of 37 weeks’ gestation and is the major bring about of illness and death in newborns. The 2022 March of Dimes Report Card shows that, for the final 4 consecutive years, a lot more than a single in ten infants is born prematurely. Prematurity is linked with a considerably improved danger of big lengthy-term health-related complications, which includes mastering disabilities, cerebral palsy, chronic respiratory illness, intellectual disability, seizures, and vision and hearing loss, and can produce important fees all through the lives of impacted kids. The annual overall health care fees to handle quick- and lengthy-term complications of prematurity in the United States were estimated to be approximately $25 billion for 2016.
About the PreTRM® Test
The PreTRM® Test is the only broadly validated, commercially offered blood-primarily based biomarker test that gives an early, precise and individualized danger prediction for spontaneous preterm birth in asymptomatic singleton pregnancies. The PreTRM® Test measures and analyzes proteins in the blood that are extremely predictive of preterm birth. The PreTRM® Test permits physicians to determine, through the weeks 18 by way of 20 of pregnancy, which ladies are at improved danger for preterm birth and its complications, enabling a lot more informed, customized clinical choices primarily based on every single woman’s person danger. The PreTRM® Test is ordered by a health-related expert.
Sera Prognostics, the Sera Prognostics logo, The Pregnancy Business, and PreTRM are trademarks or registered trademarks of Sera Prognostics, Inc. in the United States and/or other nations.
Secure Harbor Statement
This press release includes “forward-seeking statements” inside the which means of the Private Securities Litigation Reform Act of 1995, which includes statements relating to accelerating test adoption and income targeting enhanced income generation at considerably decreased operating fees driving efficiency and effectiveness in our industrial commit upcoming information readouts prospective strategic partnerships additional optimizing the Company’s organization enhanced shareholder valuation establishing the Company’s very first-of-its-type PreTRM test as a typical of care fostering important development and the company’s strategic directives below the caption “About Sera Prognostics, Inc.” These “forward-seeking statements” are primarily based on management’s present expectations of future events and are topic to a quantity of dangers and uncertainties that could bring about actual final results to differ materially and adversely from these set forth in or implied by forward-seeking statements. These dangers and uncertainties involve, but are not restricted to: net losses, money generation, and the prospective will need to raise a lot more capital revenues from the PreTRM Test representing substantially all Business revenues to date the will need for broad scientific and industry acceptance of the PreTRM Test a concentrated quantity of material shoppers our potential to introduce new goods prospective competitors our proprietary biobank essential suppliers the COVID-19 pandemic and its prospective lingering effect on our operations, as properly as the organization or operations of third parties with whom we conduct organization estimates of total addressable industry chance and forecasts of industry development prospective third-celebration payer coverage and reimbursement new reimbursement methodologies applicable to the PreTRM Test, which includes new CPT codes and payment prices for these codes adjustments in FDA regulation of laboratory-created tests the intellectual house rights safeguarding our tests and industry position and other things discussed below the heading “Threat Elements” contained in our Final Prospectus on Type S-1, which was filed with the Securities and Exchange Commission on July 14, 2021, as properly as any updates to these danger things filed from time to time in our Quarterly Reports on Type ten-Q, Annual Reports on Type ten-K, or Existing Reports on Type eight-K. All information and facts in this press release is as of the date of the release, and the Business undertakes no duty to update this information and facts unless needed by law.
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