Interpace Biosciences Announces U.S. PTO Issuance of Patent No. 11,143,657 Titled: Topographic Genotyping for Determining the Diagnosis, Malignant Potential, and Biologic Behavior of Pancreatic Cysts and Related Conditions
28 Octubre 2021 - 7:15AM
Interpace Biosciences, Inc. (“Interpace” or the “Company”) (OTCQX:
IDXG), a fully integrated commercial company that provides
clinically relevant molecular diagnostic tests and pathology
services for improved patient diagnosis and management, today
announced that on October 12th 2021, the United States Patent and
Trademark Office granted it an US Patent (11,143,657) titled:
Topographic genotyping for determining the diagnosis, malignant
potential, and biologic behavior of pancreatic cysts and related
conditions.
This patent covers the underlying technology
used in PancraGEN®, Interpace’s flagship product for risk
stratification of Pancreatic cysts. PancraGEN® is designed to
provide risk assessment for pancreatic cysts using both molecular
and clinical features, and has been performed on more than 40,000
pancreatic cysts to date.
According to Syd Finklestein, MD, an inventor of
this patent and Chief Scientific Officer of Interpace Biosciences,
“The PancraGen patent represents our commitment to deliver
clinically actionable molecular testing that will help better
manage pancreatic cancer, a leading cause of cancer deaths in the
United States. The creative approach behind this patent represents
both new ideas and a novel approach to build our understanding of
the biology behind this aggressive cancer.”
About PancraGEN®
PancraGEN® is a pancreatic cyst molecular test
that, by using a small sample of pancreatic cyst fluid, can aid in
pancreatic cancer risk assessment. PancraGEN® is 90% accurate,
according to clinical studies, enabling effective risk
stratification of patients. Pancreatic cancer is often difficult to
diagnose in early stages and typically spreads rapidly with signs
and symptoms appearing when the cancer is significantly advanced.
Because of this, and that complete surgical removal of the pancreas
is not possible, pancreatic cancer is considered a leading cause of
cancer deaths.
About Interpace Biosciences
Interpace Biosciences is an emerging leader in
enabling personalized medicine, offering specialized services along
the therapeutic value chain from early diagnosis and prognostic
planning to targeted therapeutic applications.
Clinical services, through Interpace
Diagnostics, 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. Interpace has five
commercialized molecular tests and one test in a clinical
evaluation program (CEP): PancraGEN® for the diagnosis and
prognosis of pancreatic cancer from pancreatic cysts; PanDNA, a
“molecular only” version of PancraGEN® that provides physicians a
snapshot of a limited number of factors; 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
versus metastatic origin. In addition, BarreGEN®, a molecular based
assay that helps resolve the risk of progression of Barrett’s
Esophagus to esophageal cancer, is currently in a clinical
evaluation program (CEP) whereby we gather information from
physicians using BarreGEN® to assist us in gathering clinical
evidence relative to the safety and performance of the test and
also providing data that will potentially support payer
reimbursement.
Pharma services, through Interpace Pharma
Solutions, provides pharmacogenomics testing, genotyping,
biorepository and other customized services to the pharmaceutical
and biotech industries. Pharma services also advances personalized
medicine by partnering with pharmaceutical, academic, and
technology leaders to effectively integrate pharmacogenomics into
their drug development and clinical trial programs with the goals
of delivering safer, more effective drugs to market more quickly,
while also improving patient care.
For more information, please visit Interpace
Biosciences’ website at www.interpace.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 statements including,
but not limited to, the adverse impact of the COVID-19 pandemic on
the Company’s operations and revenues, the substantial doubt about
the Company’s ability to continue as a going concern, the
possibility that the Company’s estimates of future revenue, cash
flows and adjusted EBITDA may prove to be materially inaccurate,
the Company’s history of operating losses, the Company’s ability to
adequately finance its business, the Company’s ability to repay
borrowings under its new credit facility as well as its $7.5M
bridge loans from its private equity investors, the Company’s
dependence on sales and reimbursements from its clinical services,
the Company’s ability to retain or secure reimbursement including
its reliance on third parties to process and transmit claims to
payers and the adverse impact of any delay, data loss, or other
disruption in processing or transmitting such claims, the Company’s
revenue recognition being based in part on estimates for future
collections which estimates may prove to be incorrect, and the
Company’s ability to remediate material weaknesses in internal
controls. Additionally, all forward-looking statements are subject
to the “Risk Factors” detailed from time to time in the Company’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2020 filed with the Securities and Exchange Commission, Current
Reports on Form 8-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.
Contacts:
Investor RelationsInterpace Biosciences,
Inc.(855)-776-6419Info@Interpace.com
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