Medical Technology company Sienna Cancer Diagnostics Limited (ASX: SDX) is a publicly listed company of manufacturing In-Vitro Diagnostic (IVD) medical devices for pathology laboratories. The company, headquartered in Melbourne, Australia, has recently launched the first-ever In-Vitro Diagnostic (IVD) medical device for the detection of bladder cancer.
Sienna is led by Chief Executive Officer Matthew Hoskin who has extensive global experience in leading medtech companies. Mr Hoskin joined Sienna early in 2014, bringing in over 20 years of his experience in growing medtech and healthcare sector companies at a leadership role.
Mr Hoskin is accredited for playing a key role in the development of Australia’s one of the most profitable biotech companies, Vision Biosystems, which was eventually sold at ~AUD$800 million. Due to his special interest in cancer diagnostics technology, Mr Hoskin has worked with the significant number of multinational medtech companies including Leica Biosystems, Siemens Medical and Hospira.
Further at senior management level, Sienna is governed by Chief Financial Officer and Company Secretary Tony Di Pietro. Prior to the appointment as Chief Executive Officer of Sienna in November 2014, Mr Pietro worked with pharmaceutical company Acrux Limited at a key managerial level for the term of more than 10 years. He was appointed to the role of Company Secretary later in February 2015.
Mr Pietro is a Chartered Accountant from a profession with substantial experience in corporate governance and accounting across the range of industries in Australia and the UK. Mr Pietro experience spans many industries having been employed with leading companies of the sectors including BHP Ltd in Resource Industry, HSBC Ltd in Banking, and Wilson Group in Security and Parking Industry.
It has to be seen that the credentials of management play a pivotal role in the company’s key expansion strategies as Mr Hoskin efforts are regularly focused on driving the company’s growth through the delivery of high-quality products that address unmet market needs.
The company aims to takeover complementary technologies to expand its commercialization pipeline. The most essential part of the company’s growth strategy is to apply its commercialization and development experience in building other technologies for IVD devices.
In the Initial Public Offering in August 2017, the company raised $4.6 million and a further $5.2 million was raised through a share placement and right issue offer in July and August 2018. Mr Hoskin stated these raising ensures the progress of technology expansion strategy along with the continuous advancement of other strategic priorities.
Mr Hoskin’s extensive experience in driving revenue and profit while ensuring operational excellence and Mr Pietro’s expertise in corporate governance allows Sienna to achieve global diagnostics success. The Board further believes that the company holds a healthy financial position to execute its current strategies.
SDX traded flat on 8 February 2019. The stock price last traded at $0.064 with a market capitalisation of $17.11 million. Further, SDX has witnessed a positive price movement of 6.67% over the last month.
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