Summary: DELFI Diagnostics appointed Thomas Russo as its new CFO to support the company’s expansion into the blood-based liquid biopsy market.

Takeaways:

  1. Thomas Russo, with a strong background in finance and biopharma, joins DELFI Diagnostics as CFO, bringing valuable expertise from his previous roles at Icosavax, Assembly Biosciences, and Gilead Sciences.
  2. Russo’s appointment is expected to bolster DELFI’s efforts in scaling the adoption of its FirstLook Lung test, a blood-based liquid biopsy for early lung cancer detection, aimed at high-risk and underserved populations.
  3. DELFI Diagnostics is positioning itself to revolutionize cancer screening, supported by strategic partnerships and a leadership team focused on expanding access to life-saving diagnostic tools.

DELFI Diagnostics, a developer of accessible blood-based liquid biopsy tests for early cancer detection, announced the expansion of its leadership team with the appointment of Thomas Russo as its chief financial officer. 

At DELFI, Russo will help expand the company into the blood-based liquid biopsy market with the FirstLook Lung test.

Russo most recently served as CFO of Icosavax, where he helped guide the clinical-stage biopharmaceutical company through a pivotal growth period from its initial public offering through its acquisition by AstraZeneca for a total equity value of up to $1.1 billion.

“Tom has a proven track record of supporting innovators in healthcare, and his combined expertise across biopharma, finance, commercialization, and the investment community makes him an incredible addition to our growing team of industry visionaries,” says Susan Tousi, CEO of DELFI Diagnostics. “DELFI is poised to revolutionize cancer screening to better support providers and patients. Tom’s appointment expands our capabilities to ensure fiscal excellence, drive adoption at scale, and fulfill the company’s potential.”

Extensive Industry Expertise

Russo brings extensive expertise in finance, operations, and equity research for public biopharma companies, including CFO roles at Icosavax, Inc. and Assembly Biosciences, Inc., and senior finance and commercial operations roles at Gilead Sciences, Inc. Previously, he served as Equity Research Senior Analyst covering biotechnology for Robert W. Baird & Co. Inc., where he earned WSJ Best on the Street recognition. 

Earlier in his career, Russo worked in roles of increasing responsibility within Merck & Co., Inc.’s manufacturing division. 

“This is an exciting time to be part of DELFI, and I believe in their mission of improving access to early cancer detection for high-risk patients and those in underserved populations,” says Russo. “DELFI has an impressive team backed by an impressive group of investors. Having worked with companies at this stage, I am encouraged by the early and very strong interest in DELFI’s approach, signs that the company’s clinical and technological leadership could transform the landscape of cancer screening, and the potential for the company to create value for all its stakeholders.”

The FirstLook Lung Test

DELFI recently announced partnerships with Indigenous PACT, OSF Healthcare, and City of Hope. Lung cancer is the No. 1 cause of cancer deaths globally and in the United States, where it accounts for 25 percent of all cancer deaths. Studies show annual lung cancer screening can reduce death rates by 20% or more. 

FirstLook Lung provides health systems and their clinical operations with a simple, blood-based test solution that can be offered to screen-eligible patients during a routine visit.

Featured image: Thomas Russo, chief financial officer, DELFI Diagnostics. Photo: DELFI