- Current POAI Chairman J. Melville (“Mel”) Engle has been appointed to CEO position
- Engle has held executive positions throughout his career at leading pharma and medical device companies, including Dey L.P. (a subsidiary of Merck KGaA), Allergan, Anika Therapeutics and Thermogenesis
- During his time at Merck’s Dey L.P., Engle transitioned the company from generics to branded products and grew sales from $250 million to $600 million
The world today uses big data for all sorts of predictions, especially consumer behavior. One day, though, big data and technology could prove even more valuable as the catalyst to flip the healthcare script from one that is almost exclusively reactive, to a proactive one that foretells disease at best and eliminates trial and error in therapy decisions after a disease presents at worst. That’s the hope of Predictive Oncology (NASDAQ: POAI), a company using an extensive dataset collected over the last 15 years to better inform individualized cancer therapies today as it advances development of its predictive tumor profiling technology rooted in its artificial intelligence (“AI”) platform.
The company recently named J. Melville (“Mel”) Engle as chief executive officer. Engle has been a director at POAI since October 2016 and has sat as chairman of the board since January 2020. He will take on the top executive role and continue to serve as the company’s chairman.
Engle has a history of success on multiple verticals in business development and a proven track record during more than 20 years holding C-level positions at healthcare and biotechnology companies. His skillset is particularly impressive with regards to properly positioning a company, launching products and expanding sales.
That experience will be invaluable as CEO of Predictive Oncology, which operates through three primary subsidiaries, two of which are in the revenue stage. The company’s Helomics division is an area of focus as it targets researchers in pharmaceutical/diagnostic companies to provide cancer treatment recommendations– the market segment where there is unmet need and pharmas have money to spend to improve patient care.
For the last decade-and-a-half, the company, through its subsidiaries, has been collecting a trove of more than 150,000 physical models of tumors and generating data valuable to clinicians. Growing revenue from this portion of the business strategy is integral to funding the requisite clinical research that will validate the AI model in the future.
Prior to starting his consulting practice in 2012, Engle was CEO of NASDAQ-listed Thermogenesis. Thermogenesis designed, developed and sold medical devices that enabled the practice of regenerative medicine.
In 2002, Engle was recruited by Merck KGaA to serve as president and CEO of Dey L.P, a division of Merck. Dey L.P., a pharmaceutical company focused on the development and commercialization of products for respiratory, allergy and other breathing disorders. Under his leadership, Dey was transformed form one selling 90% commodity generics to one selling 90% branded products, during which sales surged from $250 million annually to over $600 million.
Engle was also regional director, North America for Merck’s Generics Group, where he led all their North American businesses, including Dey, Genpharm, Inc. (Canada) and Genpharm, L.P. (U.S.) with total sales of $800 million and 1,200 employees. That role was subsequent to spending 14 years as a senior executive (CFO, managing director (Canada), senior vice president (Latin America/Canada), and senior vice president (U.S. Sales) with Allergan.
“I believe Predictive Oncology is positioned for success and I look forward to working with our team to achieve its strategic short- and long-term objectives. I am excited about the prospects of making a positive impact in enhancing the value for our stakeholders,” said Mr. Engle in a press release announcing his new CEO position (https://ibn.fm/7v4eB).
For more information, visit the company’s website at www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI