10 August 2020
Release date: 4 August 2020
Dear Valued Stakeholders,
We are pleased to inform you that on 28 July 2020, Sienna Cancer Diagnostics Ltd (Sienna) became a wholly owned subsidiary of BARD1 Life Sciences Ltd (BARD1 or the Company). The acquisition of Sienna and merger into BARD1 has created a well-capitalised, Australian-based diagnostics company with a high-calibre Board, experienced leadership team and innovative cancer diagnostics portfolio. The Company will focus on delivering novel cancer diagnostics for earlier detection of cancer.
Sienna will continue to provide high quality service and support to our valued stakeholders under our parent company BARD1. The Company now combines the complementary BARD1 and Sienna Cancer Diagnostics businesses with the goal of transforming the business into a leading diagnostics company.
Former Sienna CEO Carl Stubbings has transitioned to BARD1 COO responsible for leading the Company’s commercial operations. Mr Stubbings said: “Our priorities will include driving revenue growth, commercialisation of our diagnostics pipeline and securing additional commercial partners. Importantly, we will continue to supply our adjunct urine cytology test, the hTERT ICC test, and deliver service excellence to our hTERT partners to grow hTERT sales and revenues.”
Sienna has come a long way since work first began on the hTERT test in our humble laboratory in Parkville, Melbourne. We have made significant progress since then, which we could not have achieved without our valuable Sienna team (in the US and Australia), our Chairman and Board, our dedicated and loyal shareholders, clinical staff and networks, external consultants, global customers, collaborators, commercial partners and our growing list of global distributors. Our journey in a snapshot is one we are immensely proud of:
- Development, commercialisation and launch of the hTERT ASR (Analyte Specific Reagent) in 2015
- Development, commercialisation and launch of the hTERT IVD in 2016
- Successful registrations and listings with the FDA, TGA, and CE mark certifications
- Successful IPO and listing with the ASX in 2017
- Global expansion with our in-market product, hTERT (now in 12 regions globally)
- Acquisition of a unique biomarker capture platform technology – SIEN-NETTM
- Worldwide exclusive license for a unique pan-cancer probe – SubB2M
What changes have taken effect?
- BARD1 has completed Sienna acquisition strengthening the leadership, business, product pipeline and balance sheet
- BARD1 Board changes with the appointments of Geoff Cumming as Chairman and Helen Fisher as a Non-Executive Director
- Strengthened leadership team with the appointments of Carl Stubbings who will step into a COO role while Tony Di Pietro will continue to serve the combined entity as CFO and Company Secretary
- Relocation of BARD1 head office to Notting Hill, Melbourne, Australia
- The acquisition delivers an expanded cancer diagnostic portfolio of innovative technologies, pipeline diagnostics and revenue generating products including the BARD1 autoantibody tests, SubB2M, SIEN-NETTM and the hTERT ICC test.
- The Company will focus on delivering novel diagnostics for earlier cancer detection.
What does this change mean for you?
- The Company will continue to enhance quality, sales, marketing, distribution, and applications support of hTERT
- The hTERT product branding, quality, regulatory and manufacturing processes will remain unchanged
- Ordering and technical enquiries for the hTERT product will continue to be supported by the Global Field Applications Support Team you are familiar with.
- All Sienna Cancer Diagnostics Ltd website traffic will now be redirected to the BARD1 website (https://www.bard1.com/)
- LinkedIn and Twitter accounts will remain active until all followers can be transferred to the BARD1 LinkedIn and Twitter (@BD1LSL) accounts
- There will be minimal impact to email communication with Sienna employees, as all Sienna emails will be redirected to corresponding BARD1 email addresses for all employees and services i.e. orders@siennadiagnostics.com.au will remain active and redirected to orders@bard1.com and; info@siennadiagnostics.com.au will be redirected to info@bard1.com.
We will keep our key stakeholders informed as we continue to grow the Company post-merger. In the meantime, please contact us on +61 3 9548 7586 or info@bard1.com if you have any additional questions.
BARD1 Chief Executive Officer, Dr Leearne Hinch said: “The completion of the Sienna acquisition further advances a series of strategic initiatives implemented by the Company last year to expand our Board and management, strengthen our diagnostics portfolio and position the Company for growth as we seek to transform the business into a leading diagnostics company.”
“We are excited to combine our complementary cancer diagnostic businesses under BARD1 and will now focus on integrating our operations, executing our growth strategy, and advancing our R&D programs to deliver value-generating development and commercial milestones in financial year 2021.”
“I look forward to working with the expanded Board and leadership team to deliver on our potential to build a leading diagnostics company and grow shareholder value.”
From all of us at BARD1 Life Sciences we wish you strength and success during these unprecedented times and we appreciate your ongoing partnership and support. Stay healthy and stay safe.
Your sincerely,
Dr Leearne Hinch | CEO
E leearne@bard1.com
M +61 400 414 416
Carl Stubbings | COO
E cstubbings@bard1.com
M +61 423 666 374
Minesh Lalla | BDM
E mlalla@bard1.com
M +61 405 418 854
