LightDeck Diagnostics Appoints Nick Traggis as CEO to Scale Company Operations Through Next Phase of Growth
By: Colorado BioScience Association Date: 07/21/2021
LightDeck Diagnostics today announced that Nick Traggis has transitioned from executive vice president of Corporate Development to Chief Executive Officer (CEO). Chris Myatt, who precedes Mr. Traggis as CEO, has transitioned to Chief Innovation Officer (CIO). Robert J. Silverman has also been elevated to Executive Chairman of the Board. Fresh off new funding from the Department of Defense (DoD) and the Department of Health and Human Services (HHS), the company is uniquely positioned to scale its operations and effectively execute its vision to transform diagnostics.
Nick Traggis brings operational, business development, and engineering leadership experience in industrial manufacturing and technology development companies to the CEO role. As EVP of Corporate Development, he has scaled LightDeck Diagnostics’ footprint, leading numerous pivotal deals and financing events to broaden the company’s reach and accelerate growth. His ability to strategically evaluate current and emerging opportunities will be critical in the company’s next phase of commercial expansion.
“Chris and I have a long history of building companies together. He and the team have built something really special at LightDeck Diagnostics and the platform has amazing potential,” said Mr. Traggis. “I look forward to leading the company into our next phase of growth and long-term success. I am also excited to continue to collaborate with Chris and Bob as we execute on our shared vision of delivering a diagnostic platform that decentralizes testing to bring lab-quality diagnostics to the point-of-need.”
As CIO, Chris Myatt will continue collaborating closely with Traggis as he transitions into the CEO role. The two have had a 20-year working relationship, first collaborating at Dr. Myatt’s first company, Precision Photonics Corporation (PPC), where they developed the core technology powering the LightDeck platform. Traggis ultimately became PPC’s General Manager, leading the company to an annual growth rate of over 30% a year and executing a successful sale to IDEX Corporation.
“I founded LightDeck Diagnostics to broaden access, increase speed, and improve the quality of diagnostics for all,” explained Dr. Myatt. “As a physicist by training, my passion lies in forging the science and innovation that will allow LightDeck to continue to grow. Nick’s drive, deep understanding, and knowledge of our business make this transition a natural fit, and will be key as we continue to scale commercialization.”
As Executive Chairman of the Board, Robert J. Silverman brings over 30 years of diversified general management, marketing, and sales experience in the diagnostics and pharmaceutical industries, with a proven track record of managing operations across domestic and international markets. He holds a rich history leading high-performance businesses: in his time as a commercial executive at Cytyc Corporation, he was an integral part of the team that grew the company to a $3 billion public market valuation; he scaled mtm laboratories as its CEO, resulting in its acquisition by Roche; and as a board director he has guided several early-stage companies through successful exits.
“I have had the pleasure of working closely with Nick and Chris for more than eight years. Nick has been an invaluable member of the team, collaborating with Chris across the business and on our long-term strategy, and he has the full confidence of the Board to lead the company,” remarked Mr. Silverman. “I am pleased to assume the role of Executive Chairman to provide even greater support to Nick, Chris and the entire LightDeck Diagnostics team.”
LightDeck Diagnostics recently announced a $35.1 million contract with the DOD and HHS’ Biomedical Advanced Research and Development Authority (BARDA) to increase manufacturing production of its 5-minute point-of-care tests for COVID-19. This new funding and these strategic executive appointments will drive the company’s vision and next phase in commercial growth.
Find out more in the LightDeck press release.