– Expert in the field of gastrointestinal cancer
and precision oncology to lead Invitae's medical oncology team with
a particular focus on somatic testing development –
– Invitae reports inducement grant under NYSE
Rule 303A.08 –
SAN
FRANCISCO, March 16, 2023 /PRNewswire/ --
Invitae (NYSE: NVTA), a leading medical genetics company,
today announced the appointment of W. Michael Korn, M.D., as its chief medical officer
for oncology, effective March 13,
2023. Dr. Korn brings decades of experience in the field of
gastrointestinal cancers, implementing precision oncology
principles in clinical cancer care, and designing a novel database
on targeted cancer therapeutics.
At Invitae, Dr. Korn will lead the medical oncology team with
the goal of enabling an integrated portfolio in cancer, with an
emphasis on somatic testing development. Invitae's comprehensive
oncology portfolio aims to accurately and reliably identify
patients at risk of developing cancer and enable care for patients
diagnosed with cancer through advanced molecular diagnostics and
data interpretation.
"We're delighted that Dr. Korn has joined our team. His
extensive experience in both academic medicine and the commercial
sector, combined with his dedication to advancing precision
medicine throughout a patient's cancer journey, will contribute
greatly to advance our mission of bringing somatic testing to the
care of cancer patients. Given Invitae's focus on our personalized
cancer monitoring (PCM) assay that uses circulating tumor DNA for
determining prognosis, surveillance, early detection of relapse and
assessment of a patient's response to therapy, this is an important
time to have Dr. Korn's expertise on our team," said Robert Nussbaum, M.D., chief medical officer at
Invitae. "In addition, Dr. Korn will be a key contributor to our
clinical research efforts, the design of our tests, our physician
education efforts and the building out of customer experience and
clinical support for both oncology providers and patients
alike."
Before joining Invitae, Dr. Korn served from 2017 to 2022 as
chief medical officer at Caris Life Sciences. He was instrumental
in developing AI-driven molecular signatures and advancing clinical
and translational research in precision oncology. Dr. Korn remains
on faculty at the University of California San
Francisco (UCSF) as clinical professor (volunteer) in the
Division of Hematology/Oncology.
At UCSF, he founded and led the Precision Oncology Initiative
and the Molecular Tumor Board and was the lead investigator of
clinical trials exploring new treatments for advanced cancers. Dr.
Korn's laboratory focused on the development of rational
combination therapies for cancer using systems-biology approaches,
and his scientific work has been published in more than 100
peer-reviewed publications.
"I am thrilled to join Invitae and help move the precision
oncology field forward in the best interest of our patients," said
Dr. Korn, chief medical officer for oncology at Invitae. "Invitae
is well positioned to build on its leading position in germline
hereditary cancer testing to improve the care of cancer patients.
Invitae's goals are to enable oncologists to provide more precise
prognoses, monitor remissions more sensitively, detect relapses
requiring alterations in therapy more rapidly and identify targets
for precision cancer therapy, thereby improving clinical care
across a patient's entire cancer journey. I am excited about the
company's vision to advance the development of a comprehensive
oncology portfolio."
A native of Germany, Dr. Korn
earned his medical degree at the Philipps University Marburg and
graduated from the University of Düsseldorf in Germany. He completed his internal medicine
and medical oncology training at the West German Cancer Center –
University Hospital Essen. He is board certified in internal
medicine and medical oncology.
Invitae will grant 260,000 restricted stock units ("RSUs") to
Dr. Korn under Invitae's 2015 Stock Incentive Plan (the "2015
Plan"), which will be amended and restated to add 260,000 shares of
Invitae common stock to a pool of shares under the 2015 Plan which
is to be used exclusively for the grant of inducement awards in
compliance with New York Stock Exchange Rule 303A.08 ("Rule
303A.08"). The RSUs are subject to approval by Invitae's Board of
Directors and will be granted as an inducement material to Dr.
Korn's agreement to be employed with Invitae in reliance on the
employment inducement exemption under Rule 303A.08. One-third of
the RSUs will vest on each of the first three anniversaries of
May 15, 2023, subject to Dr. Korn's
continued service as an employee of Invitae through the applicable
vesting dates. The grant of the RSUs is subject to the terms and
conditions of the 2015 Plan and the applicable form of stock award
agreement.
About Invitae
Invitae (NYSE: NVTA) is a leading
medical genetics company trusted by millions of patients and their
providers to deliver timely genetic information simplified by
digital technology. With accurate and actionable answers to
strengthen medical decision-making, Invitae gives individuals and
their families powerful, personalized insights that could improve
and extend their lives. Invitae's genetics experts apply a rigorous
approach to data and research, serving as the foundation of their
mission to bring comprehensive genetic information into mainstream
medicine to improve healthcare for billions of people.
To learn more, visit invitae.com and follow for
updates on Twitter, Instagram,
Facebook and LinkedIn @Invitae.
Safe Harbor Statement
This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements relating to the company's belief that Dr. Korn will
contribute to its mission; the company's expectations and goals
with respect to Dr. Korn's role and future contributions; and the
company's goals and vision to advance the development of a
comprehensive oncology portfolio. Forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially, and reported results should not be considered
as an indication of future performance. These risks and
uncertainties include, but are not limited to: the impact of
inflation and the current economic environment on the company's
business; the company's ability to grow its business in a
cost-efficient manner; the company's history of losses; the
company's ability to maintain important customer
relationships; the company's ability to compete; the company's
need to scale its infrastructure in advance of demand for its tests
and to increase demand for its tests; the applicability of clinical
results to actual outcomes; risks associated with litigation; the
company's ability to use rapidly changing genetic data to interpret
test results accurately and consistently; security breaches, loss
of data and other disruptions; laws and regulations applicable to
the company's business; and the other risks set forth in the
company's filings with the Securities and Exchange Commission,
including the risks set forth in the company's Annual Report on
Form 10-K for the year ended December 31,
2022. These forward-looking statements speak only as of the
date hereof, and Invitae Corporation disclaims any obligation to
update these forward-looking statements.
Invitae PR contact:
Amanda McQuery
pr@invitae.com
(628) 213-3283
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SOURCE Invitae Corporation