Title of Presentation
“Companion diagnostics – a gateway for commercialization of personalized medicine”
Date and Place
Nikolaus Wick is a Board Certified pathologist with professional experience in academia and international healthcare industry. His interest has been the role of biomarkers in therapy and associated companion diagnostics, covering various functions in research, product development and commercialization. Currently he is managing physician of his specialty laboratory (Labor Wick) for human diseases and acts as the CEO of the diagnostic SME Wick Diagnostics, both located in Innsbruck, Austria. He holds associate professorships at the Medical Universities of Vienna, Austria, and at the Medical School of Philadelphia, PA.
With the intent to precisely diagnose a disease and influence its course, personalized medicine has assigned a novel quality to in vitro companion diagnostics (CDx), where the immediate medical consequence of a diagnostic result defines the value of a CDx rather than the associated costs. For the diagnostic industry this has opened the opportunity to move from a cost-based pricing to a value-based pricing and thereby improve their commercial indicators. This opportunity comes with a shift in selling strategies, where independent medical diagnostic consultants visit the physicians to describe the solution to their medical problem by using a CDx. Medically qualified customer-facing personnel will be increasingly needed to communicate the product value propositions, making medical information the reason why a physician orders and purchases a CDx.