DermTech Enters Agreement with Blue Cross Blue Shield of Illinois
November 20 2020 - 8:00AM
Business Wire
DermTech, Inc. (NASDAQ: DMTK) (“DermTech”), a leader in
precision dermatology enabled by a non-invasive skin genomics
platform, announced today it has entered into an agreement,
effective November 3, 2020, with Blue Cross Blue Shield of Illinois
for its Commercial PPO and Medicare Advantage membership.
DermTech’s PLA is the first non-invasive gene expression test
for the early detection of melanoma. The PLA has a 99% negative
predictive value (“NPV”), meaning there is a less than 1%
probability of the PLA missing a melanoma when administered
properly.
“We are excited to announce that our test is now available to a
segment of commercial and Medicare Advantage members. Our PLA test
offers significant benefits in early melanoma detection and reduced
biopsies of benign lesions while also reducing overall costs to the
healthcare system,” said Dan Visage, Senior Vice President of Payor
Access.
About DermTech:
DermTech is the leading genomics company in dermatology and is
creating a new category of medicine, precision dermatology, enabled
by our non-invasive skin genomics platform. DermTech’s mission is
to transform the practice of dermatology through more accurate
diagnosis and treatment, and the elimination of unnecessary
surgery, leading to improved patient care and lower costs. DermTech
provides genomic analysis of skin samples collected non-invasively
using an adhesive patch rather than a scalpel. DermTech markets and
develops products that facilitate the early detection of skin
cancers, and is developing products that assess inflammatory
diseases and customize drug treatments. For additional information
on DermTech, please visit DermTech’s investor relations site at:
www.DermTech.com.
Forward-Looking Statements:
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. The expectations,
estimates, and projections of DermTech may differ from its actual
results and consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, expectations with respect to: the performance, patient
benefits, cost-effectiveness and commercialization of DermTech’s
products and the market opportunity therefor. These forward-looking
statements involve significant risks and uncertainties that could
cause the actual results to differ materially from the expected
results. Most of these factors are outside of the control of
DermTech and are difficult to predict. Factors that may cause such
differences include, but are not limited to: (1) the outcome of any
legal proceedings that may be instituted against DermTech; (2)
DermTech’s ability to obtain additional funding to develop and
market its products; (3) the existence of favorable or unfavorable
clinical guidelines for DermTech’s tests; (4) the reimbursement of
DermTech’s tests by Medicare and private payors; (5) the ability of
patients or healthcare providers to obtain coverage of or
sufficient reimbursement for DermTech’s products; (6) DermTech’s
ability to grow, manage growth and retain its key employees; (7)
changes in applicable laws or regulations; (8) the market adoption
and demand for DermTech’s products and services together with the
possibility that DermTech may be adversely affected by other
economic, business, and/or competitive factors; and (9) other risks
and uncertainties included in (x) the “Risk Factors” section of the
most recent Quarterly Report on Form 10‑Q filed by DermTech with
the Securities and Exchange Commission (the “SEC”), and (y) other
documents filed or to be filed by DermTech with the SEC. DermTech
cautions that the foregoing list of factors is not exclusive. You
should not place undue reliance upon any forward-looking
statements, which speak only as of the date made. DermTech does not
undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in its expectations or any change in events,
conditions, or circumstances on which any such statement is
based.
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Sarah Dion VP Marketing sdion@dermtech.com (858) 450-4222
DermTech (NASDAQ:DMTK)
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