In 2020, 2.3 million women worldwide were diagnosed with breast cancer, with 685,000 fatalities, including 43,780 in the US. Mammogen is on a mission to reduce these statistics by developing and commercializing a suite of non-invasive, liquid biopsy, early detection tests for breast cancer. Elizabeth “Liz” Cormier-May, a life science and diagnostics veteran from the U. S., is on a quest to enhance the detection, diagnosis, and treatment of diseases affecting women. There is a saying, “A woman knows what a woman needs.” This thought has laid the groundwork for many female entrepreneurs dedicated to women’s health. Elizabeth is the CEO of Mammogen: A woman-led biotech firm that uses data, technology, and research, as well as personal experience, to improve every area of women’s healthcare. Her unique pursuit and prolific ambition to develop an end-to-never-end community for women around the world earns her a place in our captivating issue. She is also SVP and CCO of IV BioHoldings, a studio that conceives, develops, and commercializes first-in-class bio-platform firms that dramatically improves disease detection, diagnosis, and treatment. The IVBH ecosystem includes Mammogen, as well as LiquidLung (a pulmonary company focusing on early detection lung cancer) and HepGene (a metabolic company focusing on detection of NAFLD and NASH).
A GOAL TO REVOLUTIONIZE
“Controlling my own destiny and being able to rearrange pieces of success that others had always forced me to keep stationary were the two reasons I became an entrepreneur,” says Liz. At a young age, Liz felt compelled to introduce new tools, technologies, and products into the industry, all with the goal of improving patient care. She began her career as a medicinal chemist at the Novartis Institute for Biomedical Research, focusing on early discovery oncology. In this role, she felt too far removed from the patient, despite her desire to make a genuine impact on cancer research. She has spent over two decades creating new markets, products, and companies, all with the same goal in mind: to provide unique solutions and technologies that improve patient experiences and save lives.
With unbridled drive and experience, she brought the concept of Mammogen to life. Mammogen connects the right patient to the right treatment at the right time. Her company is developing the genTRUTM suite of breast products, first-of-its-kind, ground-breaking solutions that will unlock early detection. The flagship products have an accuracy in the upper 90 percentiles and are designed to usher in a transformation in women’s healthcare.
Liz’s mission has brought together a community of women (survivors, fighters, and previvors). As a previous medicinal chemist, she is well-versed in oncology and its terrifying consequences. “We’re providing survivors with tools that go beyond clinical diagnosis to provide a safe environment for talking, healing, and long-term wellness,” Liz explains. The team is also building partnerships with other female entrepreneurs that are focused on the clinical, social, physiological, and mental health challenges that arise during the previvor, survivor, and thriver phases in the continuum of care.
REIMAGING WOMEN’S WELL-BEING
As mentioned, Mammogen’s flagship suite of products is envisioned as a cornerstone of women’s healthcare. The genTRUTM consists of two early detection tests. The first is the genTRUTM-EDT (Early Detection Test), a non-invasive, simple blood test that will allow women who are not currently eligible for imaging to be screened for breast cancer earlier and more frequently. The second test, genTRUTM-PID (post imaging diagnostic), is intended to rule out the correct patients from invasive breast biopsies. Both the tests are based on a suite of 26 mRNA biomarkers that have demonstrated an ability to diagnose breast cancer at all stages. The product suite is validated in both blood and saliva and offers best-in-class performance.
This new multi-gene expression signature is non-invasive and painless, and it is positioned to deliver regular, accurate screening to women who are underserved by current guidelines. “We want every woman, regardless of age, background, financial status, or genetics, to have a chance at an early and safe diagnosis, which might save millions of lives,” says Liz. She and her colleagues aim to complete clinical development by next year, making early breast cancer diagnosis a near-term reality for 96 million women.
FACTORS MAKING IT DISRUPTIVE, AND DISTINCT
Mammogen’s uniqueness and strength are driven by innovation, technology, and focused R&D. The Mammogen and IVBH model focuses on reducing time, cost, and inefficiency in clinical research while maintaining a flexible market strategy. For instance, Mammogen cut the average R&D and analytical validation process by seven years and saved over 95% of the industry average cost. Liz explains, “The genTRUTM suite of products, combined with the Mammogen model, not only has the potential to decentralize potentially life-saving testing, but it also puts a palpable focus on the importance of innovation and questions the traditional models.” By utilizing RNA (as opposed to DNA), they showcase a novel R&D mindset, creating a distinct and powerful model that is completely unmatched and unlocks early detection.
By focusing on creating new efficiencies, Liz and her team are reshaping how innovation occurs, and how care is delivered. This also shows how Mammogen approaches clinical development with a fresh perspective, while moving towards actual precision medicine. Undoubtedly, it requires a multi-disciplinary strategy that covers diagnostics, imaging, genomics, genetics, targeted medicines, and follow-up care after the “cure” or remission to achieve true precision medicine; but, the resultant outcome collectively benefits patients, shareholders, partners, teams, and related communities.
THE SOULS BEHIND THE DISRUPTION
At the core of Mammogen is its team. A shared belief in a purpose greater than the team itself, one that will benefit women globally, motivates everyone involved with their mission. This fosters devotion to their company and patients, as well as encourages creative problem-solving. Be it employees, partners, advisors, or BoD members, everyone shares an unwavering passion for patient care. This ignites innovative thinking and dedication towards an altruistic vision. The Mammogen team is continually redefining industry backdrops, rearranging parts, and creating best-in-class products. This innate ingenuity and efficiency complement the team’s ongoing challenge to the industry status quo.
COVID-19: A DISRUPTIVE MILESTONE
COVID has altered our way of life for the past two years – how we live, how we do business, and how we socialize. Its afflictions are self-evident, as everyone has experienced them. There has, however, been some positives that have emerged from the last 2 years. For instance, mRNA and PCR, which were mostly unknown to the general public prior to COVID, gained household awareness. This general awareness benefited both Mammogen, and IVBH as a whole, as their portfolios are based on mRNA as the modality of choice, and the products will be commercialized as PCR technology, keeping the total cost to patients and the healthcare system as controlled as possible.
ELIZABETH CORMIER-MAY: AN INFLUENTIAL VISIONARY
“The best testimonials to leadership are defined in the hardest moments, not the commendable ones.” – Liz
There has never been a worthy cause that has come without adversity or challenges. Liz’s journey hasn’t been without its ups and downs. Truth be told, when asked what her biggest regrets were at the start of her career, she said, “Not being able to speak out when necessary, not trusting my gut, and allowing others to dictate my success.” But she didn’t fail; she learned. She learned that, in moments of crisis, transparency and honesty foster the greatest amount of trust and respect. This realization has helped her turn many challenges into collective success by working in unison with her team and community. Growing through trials has largely helped her gain respect amongst her team. She abides by the golden rule: “Treat others the way you want to be treated.” She constantly focuses on nurturing an ecosystem of transparency and respect while inspiring accountability amongst all. Of course, this doesn’t make all conversations easy, but the collective reverence keeps everyone committed to a shared purpose.
As a woman who leads by example, Liz wants women to speak out and learn to say “No.” She says emphatically, “Say it when you’re asked to do something you know isn’t in the best interests of the company, when someone treats you unfairly, when you’re asked to give too much of yourself while others aren’t pulling their weight, and when you know your idea is better than the one being tossed around the room.”
A VISION FOR THE GREATER GOOD
“My entrepreneurial journey so far has been the scariest, most exhilarating, and unquestionably most rewarding experience to date,” says Liz. IV BioHoldings’ unique distribution platform excels in speed, efficiency, and risk management; and is driven by innovation from productization to commercialization. The ecosystem brings together superior data science, exponential technologies, powerful alliances, and over 60 years of combined multi-disciplinary expertise.
She is also the Co-Founder, Chairman, and CEO of Dragonfly Data Ventures, a digital health company, which is still in stealth mode. Dragonfly is developing a gamified app that provides tools for patients, consumers, and users to own, control and activate all of the data fragments they leave behind each time they use a credit card, an app, a wearable, fitness equipment, or direct to consumer genetic testing. Dragonfly’s aim is to, for the first time ever, allow consumers to not only control, but participate in all of the upsides of the data industry, all while providing an unrivaled user experience that unlocks answers, predictions, competitions, fundraising, and self-awareness.
Liz wholeheartedly names her entrepreneurial journey as her most prized achievement, other than her family. “It requires more guts, passion, creativity, and perseverance than any boardroom, M&A transaction, or executive role I have ever been a part of,” Liz concludes.
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Business Talk is a digital business magazine that caters to CEOs, Entrepreneurs, VC, and Corporates. While working with entrepreneurs and business executives, we focus not only on their achievements. Our mission is to shed light on business entities, including their innovations, technological benchmarks, USPs, and milestones/accolades.
