Veravas Inc. Company Profile

Background

Veravas Inc., established in 2017, is a laboratory diagnostic company dedicated to enhancing early disease detection through its proprietary VeraBIND™ technology. This innovative platform addresses longstanding challenges in diagnostics by eliminating interferences and accurately detecting low-abundance biomarkers, thereby improving diagnostic accuracy and patient outcomes.

Key Strategic Focus

Veravas concentrates on developing advanced diagnostic solutions that enable early detection of diseases, particularly neurodegenerative conditions like Alzheimer's disease. The company's strategic objectives include:

Development of Novel Diagnostic Tests: Creating assays that detect low-abundance biomarkers in complex sample types such as saliva, blood, urine, and stool.

Enhancement of Sample Preparation: Utilizing proprietary magnetic beads to purify and concentrate biomarkers, resulting in matrix-free samples for accurate analysis.

Collaboration with Industry Partners: Engaging in strategic alliances to co-develop diagnostic tests and expand market reach.

Financials and Funding

As of February 2020, Veravas secured $4 million in seed funding from private investors through convertible notes. This capital supports the advancement and commercialization of the company's sample preparation technology and novel diagnostic tests.

Pipeline Development

Veravas is actively developing diagnostic assays, with a notable focus on:

VeraBIND Tau Assay: A first-in-class blood-based test measuring the pathological activity of hyperphosphorylated tau in blood samples. This assay aims to aid in the early diagnosis of Alzheimer's disease by detecting tau pathology, a hallmark of the condition.

Technological Platform and Innovation

Veravas' proprietary VeraBIND™ technology stands out in the diagnostics industry by:

Proprietary Technologies: Utilizing nanomagnetic particles to purify and concentrate biomarkers from complex samples, facilitating the detection of low-abundance biomarkers.

Scientific Methodologies: Transforming challenging sample types into measurable biomarkers, enabling the development of highly accurate assays for early disease detection.

Leadership Team

Veravas is led by a team of seasoned professionals:

John Forrest, Co-Founder & Chief Executive Officer: With over 30 years of experience in healthcare IT and innovation, Mr. Forrest has successfully led multiple ventures recognized for rapid growth.

Josh Soldo, Co-Founder & Chief Scientific Officer: Inventor of the VeraBIND technology, Mr. Soldo brings over 25 years of experience in diagnostics and commercialization, holding numerous patents and having brought multiple breakthrough products to market.

Luc Vanhal, Chief Operating Officer: A global leader in operations and finance, Mr. Vanhal has managed operations for consumer brands such as Walt Disney Consumer Products and Activision/Blizzard.

Chris Mirro, Chief Growth Officer: With over 30 years in healthcare, Mr. Mirro has led billion-dollar growth initiatives across services, technology, and consulting.

Leadership Changes

In June 2020, Veravas appointed Joshua Soldo as Chief Scientific Officer and Carmen Wiley, Ph.D., as Chief Clinical Officer. Dr. Wiley, a recognized leader in clinical chemistry and laboratory medicine, brought over 18 years of experience to the company.

Competitor Profile

Market Insights and Dynamics

The diagnostic industry is experiencing significant growth, driven by the increasing demand for early disease detection and personalized medicine. The market for diagnostic assays, particularly for neurodegenerative diseases like Alzheimer's, is expanding as the global population ages and the prevalence of such conditions rises.

Competitor Analysis

Veravas operates in a competitive landscape with several key players:

WaveFront Dynamics: Develops wavefront diagnostic technology to assess visual performance.

G-Ray: Specializes in monolithic detectors and x-ray technology.

1DROP Diagnostics: Focuses on non-invasive diagnostic tests.

Cepheid: Develops molecular diagnostic systems and tests.

Strategic Collaborations and Partnerships

Veravas has engaged in several strategic alliances to enhance its diagnostic capabilities:

Phanes Biotech: Co-developing a blood-based tau pathology test to improve Alzheimer's disease detection.

Tymora Analytical Operations: Collaborating to develop the world's first diagnostic test for Alzheimer's disease from human plasma samples, offering a non-invasive alternative to current cerebrospinal fluid testing.

True Diagnostics, Inc.: Partnered to commercialize VeraTest Biotin™, a rapid test that screens for biotin interference in diagnostic assays.

Operational Insights

Veravas differentiates itself through its proprietary VeraBIND™ technology, which addresses critical challenges in diagnostic testing by enabling the detection of low-abundance biomarkers and eliminating sample interferences. This technological advantage positions the company favorably against competitors in the diagnostic industry.