Interpace Announces Extension of LabCorp Agreement
Interpace Biosciences, Inc. (NASDAQ: IDXG) announced today that its
agreement with LabCorp® (NYSE: LH) has been extended for an
additional two years, through January 2022. Interpace and LabCorp
initially entered in to their collaboration in 2016 through which
LabCorp became the first national laboratory in the U.S. to offer
electronic ordering and result reporting for Interpace’s
proprietary ThyGeNEXT® and ThyraMIR® tests for thyroid cancer.
In 2018, the parties expanded their agreement to
support single-source ordering of both an initial thyroid biopsy
analysis to be performed by LabCorp, through its Dianon Pathology
specialty laboratory, and an automatic reflex to Interpace to
perform its tests should the biopsy result be indeterminate. This
single-source ordering provides physicians and patients with
greater diagnostic clarity and reduced turnaround in determining if
there is a diagnosis of cancer.
Terms of the agreement extension were not disclosed.
According to Jack Stover, Interpace’s CEO, “We
are pleased to extend this relationship with LabCorp, one of our
largest and most prestigious customers. Our collaboration has
received a positive response from customers, and it is helping to
improve patient care by providing clinicians with more specific
About Thyroid Nodules, ThyGeNEXT® and ThyraMIR®
According to the American Thyroid Association,
approximately 20% of the 525,000 thyroid fine needle aspirations
(FNAs) performed on an annual basis in the U.S. are indeterminate
for malignancy based on standard cytological evaluation, and thus
are candidates for ThyGeNEXT® and ThyraMIR®.
ThyGeNEXT® and ThyraMIR® reflex testing yields
high predictive value in determining the presence and absence of
cancer in thyroid nodules. The combination of both tests can
improve risk stratification and surgical decision-making when
standard cytopathology does not provide a clear diagnosis for the
presence of cancer.
ThyGeNEXT® utilizes state-of-the-art
next-generation sequencing (NGS) to identify more than 100 genetic
alterations associated with papillary and follicular thyroid
carcinomas, the two most common forms of thyroid cancer. ThyraMIR®
is the first microRNA gene expression classifier. MicroRNAs are
small, non-coding RNAs that bind to messenger RNA and regulate
expression of genes involved in human cancers, including every
subtype of thyroid cancer. ThyraMIR® measures the expression of 10
microRNAs. Both ThyGeNEXT® and ThyraMIR® are covered by both
Medicare and Commercial insurers, with more than 280 million
About Interpace Biosciences
Interspace Biosciences is a leader in enabling
personalized medicine, offering specialized services along the
therapeutic value chain from early diagnosis and prognostic
planning to targeted therapeutic applications.
Interpace Diagnostics is a fully integrated
commercial and bioinformatics business unit 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. Interpace 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; 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. In addition, BarreGEN® for Barrett’s Esophagus,
is currently in a clinical evaluation program whereby we gather
information from physicians using BarreGEN® to assist us in
positioning the product for full launch, partnering and potentially
supporting reimbursement with payers.
Interpace Pharma Solutions provides
pharmacogenomics testing, genotyping, biorepository and other
customized services to the pharmaceutical and biotech industries
while also advancing 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, and improving patient care.
For more information, please visit Interpace Biosciences’
website at www.interpace.com.
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.
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
10Q. 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.
Investor Relations - Edison Group Joseph Green (646) 653-7030;
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