TORONTO, Oct. 9, 2024 /CNW/ - NetraMark Holdings Inc. (the "Company" or "NetraMark") (CSE: AIAI) (OTCQB: AINMF) (Frankfurt: 8TV) a generative AI software leader in clinical trial analytics, is pleased to announce the appointment of P.J. Haley, Executive Vice President, Commercial at Exelixis, Inc. (Nasdaq: EXEL), as a director of the Company, effective October 15th, 2024. Mr. Haley will be replacing Sheetal Jaitly, who is stepping down as a director after a period of dedicated service and contributions to the Company.
NetraMark Holdings Inc. logo (CNW Group/NetraMark Holdings Inc.)
As NetraMark focuses on advancing its technology for late phase pharmaceutical development, the Company continues to bolster its scientific and commercial capabilities by adding leaders with expertise within its key therapeutic areas. The NetraMark solution set is suited for oncological clinical development and market access which has a growing addressable market, as showcased at American Association of Cancer Research (AACR) poster presentations this year. In 2022, the oncology clinical trial market was valued at approximately USD $12.4 billion and is projected to grow to USD $19.49 billion by 20301. Furthermore, the global oncology therapeutics market was valued at around USD $205.52 billion in 2023 and is projected to reach USD 484.32 billion by 20302. To effectively engage with the oncology market, the Company has a need to lean on individuals with a deep understanding of this market, including market access and strategic knowledge from a hands-on perspective. P.J. Haley brings this expertise to the NetraMark Board of Directors.
Specifically, Mr. Haley brings to NetraMark over 20 years of experience in commercial leadership, strategy, and business development within the biotechnology and pharmaceutical sectors. His current role at Exelixis, a pioneering oncology company, positions him as an industry leader in commercialization strategies, market access, and fostering partnerships to drive long-term growth. P.J. Haley has a diverse background and has held positions of progressive commercial leadership since September 2010, serving as Executive Vice President - Commercial, Senior Vice President - Commercial, Vice President - Commercial, Executive Director - Sales & Marketing, Senior Director - Marketing, and as Director - Marketing. Prior to joining Exelixis, from 2007 to 2010, he held positions of increasing responsibility at Genentech, Inc., on the Avastin marketing team, most recently Group Product Manager. Mr. Haley served in various sales and marketing roles at Amgen, Inc. He also held various positions at PWC Securities, Lehman Brothers and Accenture. Mr. Haley holds a Masters of Business Administration from University of Michigan, Ross School of Business, and a Bachelor of Arts in Art History and Medieval and Renaissance Studies from Duke University.
"We are thrilled to welcome P.J. Haley to our Board of Directors," said George Achilleos, CEO and Director of NetraMark. "His extensive expertise in driving commercial success and navigating the intricacies of the pharmaceutical landscape will be invaluable as NetraMark continues to expand its AI-powered capabilities in precision medicine. Mr. Haley's leadership will be instrumental in shaping our growth strategy, particularly as we focus on advancing our platform and building new strategic partnerships."
"I am excited to join NetraMark's Board during this transformative time for artificial intelligence in the healthcare sector," said Mr. Haley. "The biopharmaceutical sector continues to become increasingly competitive and I believe I can leverage my significant experience to help shape the strategic direction of the Company. It is an exciting time for NetraMark, as it begins to provide value to biopharmaceutical companies by optimizing clinical trial designs for improved probability of successful outcomes."
NetraMark would like to extend its heartfelt thanks to Sheetal Jaitly for his invaluable contributions to the Company. "Sheetal has been a trusted Director and an important part of our journey and he will continue to serve in an Advisory capacity as we move forward," said Mr. Achilleos.
In contrast to other AI-based methods, NetraAI is uniquely engineered to include focus mechanisms that separate small datasets into explainable and unexplainable subsets. Unexplainable subsets are collections of patients that can lead to suboptimal overfit models and inaccurate insights due to poor correlations with the variables involved. The NetraAI uses the explainable subsets to derive insights and hypotheses (including factors that influence treatment and placebo responses, as well as adverse events) providing the potential to increase the chances of a clinical trial success. Many other AI methods lack these focus mechanisms and assign every patient to a class, often leading to "overfitting" which drowns out critical information that could have been used to improve a trial's chance of success.
About NetraMark
NetraMark is a company focused on being a leader in the development of Generative Artificial Intelligence (Gen AI)/Machine Learning (ML) solutions targeted at the Pharmaceutical industry. Its product offering uses a novel topology-based algorithm that has the ability to parse patient data sets into subsets of people that are strongly related according to several variables simultaneously. This allows NetraMark to use a variety of ML methods, depending on the character and size of the data, to transform the data into powerfully intelligent data that activates traditional AI/ML methods. The result is that NetraMark can work with much smaller datasets and accurately segment diseases into different types, as well as accurately classify patients for sensitivity to drugs and/or efficacy of treatment.
For further details on the Company please see the Company's publicly available documents filed on the System for Electronic Document Analysis and Retrieval+ (SEDAR+).
Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation including statements regarding the Company's future personnel appointments and their potential impact on the Company's business and ability to engage with target markets, the Company's anticipated business planes and strategies, and the potential value of our technology to pharmaceutical and biotechnology companies to drive efficiency, productivity, and growth which are based upon NetraMark's current internal expectations, estimates, projections, assumptions and beliefs, and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact. The forward-looking statements are expectations only and are subject to known and unknown risks, uncertainties and other important factors that could cause actual results of the Company or industry results to differ materially from future results, performance or achievements. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, NetraMark does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. New factors emerge from time to time, and it is not possible for NetraMark to predict all such factors.
When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements as set out in the materials we file with applicable Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca including our Management's Discussion and Analysis for the year ended September 30, 2023. These risk factors and other factors could cause actual events or results to differ materially from those described in any forward-looking information.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
