Year: 2014-15

Company: Veracyte

Liaison(s): Bryan Campbell John Hanna Andy Thorson Khush Bhesania Mike Rosenbluth

Veracyte is pioneering the field of molecular cytology,
focusing on genomic solutions that resolve diagnostic
ambiguity and enable physicians to make more informed
treatment decisions at an early stage in patient
care. By improving preoperative diagnostic accuracy,
the company aims to help patients avoid unnecessary
invasive procedures while reducing healthcare
costs. Their flagship product, Afirma® Thyroid FNA
Analysis, resolves ambiguity in thyroid nodule assessment
reducing unnecessary surgeries for benign thyroid
nodules by 50%. Veracyte is also in late product
development for a genomic test to resolve preoperative
ambiguity in lung nodules suspicious for cancer and
in early product development to resolve ambiguity in
diagnosis of idiopathic pulmonary fibrosis.
With Afirma on the market, Veracyte is looking to
expand into new medical fields by assessing unmet
clinical needs in endocrinology and pulmonology. After
examining a variety of diseases in both of these medical
fields by conducting KOL interviews with different physician
specialties, the TMP team has uncovered valuable
information that will inform Veracyte’s growth strategy
to develop into a more diverse company.
The TMP team began the project by reviewing
published literature in order to better understand the
current state of treatment. After identifying the current
market and assessing possible unmet needs, the team
reached out to key opinion leaders (KOLs) to establish
their perspectives and opinions in the areas. After analyzing
the collected data, the team provided a possible
approach for Veracyte to penetrate the endocrinology
and pulmonology market. This project has allowed
Veracyte to gain deeper understanding in unmet clinical
needs and prioritize markets for entry.