Interpace Diagnostics Enters into Agreement with Renowned Integrated Health System
Agreement with Piedmont Healthcare Covers Company’s Pancreatic Cancer Test
PARSIPPANY, NJ, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Interpace Diagnostics Group (NASDAQ: IDXG) reported today that it has entered in to an Agreement with Piedmont Healthcare, Georgia’s largest healthcare system with nearly 600 locations, including 11 hospitals, that serves 2 million patients annually.
Piedmont Atlanta Hospital, the system’s flagship hospital, is the largest tertiary care center in Georgia with more than 3,700 employees and 529 beds, specializes in cancer care and has been recognized in US News and World Report for its quality care delivery. The Agreement enables all physicians across the Piedmont Healthcare Network to use PancraGEN® for patients with indeterminate pancreatic cysts or other pancreaticobiliary lesions. The Company recently announced an expansion of the applications for PancraGEN to include biliary strictures and solid lesions as well as the publication of several peer-reviewed papers and updated guidelines that support the utility of molecular markers in identifying pancreatic cancer.
Jack Stover, President and Chief Executive Officer of Interpace, said, “This Agreement with Piedmont, a leading health system in cancer care, represents another example of the expanded use of PancraGEN we are experiencing.” Mr. Stover continued, “We are pleased that the physicians and patients within the Piedmont Healthcare Network now have access to our molecular test for Pancreatic cancer.”
Piedmont Healthcare’s Piedmont Cancer service line, which includes Piedmont Atlanta, Piedmont Newnan Hospital, Piedmont Henry Hospital and Piedmont Fayette Hospital, is the only regional organization that is a certified member of the MD Anderson Cancer Network®, a program of The University of Texas MD Anderson Cancer Center. Through this affiliation, cancer patients at Piedmont facilities have access to best practices, consults, and direct referrals when needed. This affiliation also ensures that patients at Piedmont Healthcare receive world renowned cancer care in their local community.
About PancraGEN®
PancraGEN is a molecular, pancreatic cancer risk classifier for cysts, solid lesions, and biliary strictures that uses a small sample of pancreatic cyst fluid or brushing specimen to aid in the risk assessment of pancreatic cancer. PancraGEN is 90% accurate according to clinical studies, enabling effective risk stratification of patients. Pancreatic cancer, a leading causes of cancer deaths, is often difficult to diagnose in early stages and typically spreads rapidly with signs and symptoms appearing when the cancer is significantly advanced.
About Interpace Diagnostics Group, Inc.
Interpace is a fully integrated commercial and bioinformatics company that provides clinically useful molecular diagnostic tests bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. The Company currently has four commercialized molecular tests and one test in a clinical evaluation process (CEP); PancraGEN for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; ThyGenX® (now ThyGeNEXT™) for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; ThyraMIR® for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay; and RespriDX™ that differentiates lung cancer of primary vs. metastatic origin. BarreGEN® for Barrett's Esophagus, is currently being “soft launched” with key opinion leaders as we continue to gather data on this assay that will assist us in seeking favorable reimbursement as well as important clinical information. Barrett's Esophagus is a rapidly growing diagnosis that affects over three million people in the US and over time can progress to esophageal cancer. The Company’s data base includes data from over 45,000 patients who have been tested using the Company’s current products, including over 25,000 molecular tests for thyroid nodules. Interpace has been designated by the 2017 edition of CIO Applications as one of the top 20 companies for providing bioinformatics solutions. Interpace’s mission is to provide personalized medicine through molecular diagnostics, innovation and data to advance patient care based on rigorous science. For more information, please visit Interpace’s website at www.interpacediagnostics.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to the Company's future financial and operating performance. The Company has attempted to identify forward looking statements by terminology including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, the Company's ability to adequately finance the business, its ability to restructure its liabilities and other obligations, the market's acceptance of its molecular diagnostic tests, its ability to retain or secure reimbursement, its ability to secure additional business and generate higher profit margins through sales of its molecular diagnostic tests, in-licensing or other means, projections of future revenues, growth, gross profit and anticipated internal rate of return on investments and its ability to maintain its NASDAQ listing.. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contact Interpace Diagnostics Investor Relations Joe Green – Edison Group (646) 653-7030 jgreen@edisongroup.com Andrew Gibson – Edison Group (646) 653-7719 agibson@edisongroup.com
Released October 4, 2018