Key Regional Health Plan Further Expands Number
of Covered Lives to Over 280 Million
Interpace Diagnostics Group, Inc. (NASDAQ: IDXG) announced today
that Medica, one of the largest health plans spanning numerous
states throughout the Midwest, has extended coverage of both
ThyGeNEXT™ and ThyraMIR® to its 1.3 million covered lives.
Physicians across Medica’s entire network will now be able to
utilize Interpace’s thyroid products to assess indeterminate
nodules providing patients with added diagnostic options.
The ThyGeNEXT™/ThyraMIR® combination represents
the only test in the market that includes the rule-in properties of
next-generation sequencing of the patient’s DNA and RNA along with
the rule-out capabilities of a micro-RNA classifier to provide
physicians with clinically actionable test results. Since ThyGenX
was launched in 2014, Interpace has conducted over 25,000 thyroid
tests for over 700 physicians and hospitals nationwide. The Company
then launched ThyGeNEXT™, equipped with next-generation sequencing
technology, to provide an expanded offering that now includes
markers of aggressiveness as well as other markers that provide
physicians with incremental insights to assist in treatment
decision making.
Medica is a non-profit health plan that serves
communities in Minnesota, Iowa, Kansas, Missouri, Nebraska, North
Dakota, Oklahoma, South Dakota and Wisconsin. It provides health
care coverage in the employer, individual, Medicaid and Medicare
markets along with national network coverage to employers who have
employees outside the Medica regional network.
Jack Stover, President and CEO of Interpace,
stated, “We are pleased that Medica, one of the largest Midwestern
health plans in the U.S., is now covering our molecular thyroid
tests and that these members and their families now have access to
our thyroid assays.” Mr. Stover continued, “This continues the
trend we have seen among other health care plans, both national and
regional, to make our unique ThyGeNEXT™/ ThyraMIR® combination
tests available to their members.”
About Thyroid Nodules, ThyGeNEXT™ and ThyraMIR®
Testing
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
patients covered.
About Interpace Diagnostics Group
Interpace is a fully integrated commercial and
bioinformatics company that provides clinically useful molecular
diagnostic tests 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; 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 50,000 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 2018
edition of CIO Applications as one of the top 10 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 its
business, 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 tests, in-licensing or other means,
projections of future revenues, growth, gross profit and
anticipated internal rate of return on investments, its ability to
maintain its NASDAQ listing and other risks. Additionally, all
forward-looking statements are subject to the risk factors detailed
from time to time in the Company's filings with the SEC, including
without limitation, the 2018 Annual Report on Form 10-K filed with
the SEC and the Company’s Quarterly Reports on Form 10-Q filed.
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 Relations - Edison GroupJoseph Green(646)
653-7030jgreen@edisongroup.com
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