Interpace Biosciences, Inc. (Nasdaq: IDXG) announced today
that it has executed a license agreement with Rutgers, The State
University of New Jersey, and Massachusetts General Hospital for a
novel monoclonal antibody platform, Das-1, used in the risk
assessment of pancreatic cysts. Although some cysts may have no
cancerous potential at all, other cysts carry up to a 48 percent
chance of harboring invasive cancer, and surgery to remove them is
often complex. Therefore, there is a need to develop additional
tools to identify which pancreatic cysts may develop into cancer
and which ones will not. In a recent, national multicenter study of
patients undergoing surgery for pancreatic cysts, the Das-1
antibody was able to accurately identify pancreatic cysts likely to
become cancerous with high sensitivity and high specificity in
comparison to current clinical guidelines (Das, K et al, “Cross
Validation of the Monoclonal Antibody Das-1 in Identification of
High-Risk Mucinous Pancreatic Cystic Lesion”, (Gastroenterology
2019; 157:720-730). Das-1 is gaining recognition among experts in
the GI community as evidenced by its inclusion as a component in
the Pancreatic Cyst Biomarker Alliance sponsored in part by the
National Cancer Institute.
The license gives Interpace exclusive commercial
rights to this patented technology. The Company’s flagship product,
PancraGEN®, was 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. This new biomarker
will provide additional information regarding cancer risk to
further facilitate personalized patient management.
Koushik K. Das, MD, an assistant professor of
medicine in the Division of Gastroenterology at Washington
University said: “We are thrilled to bring our discoveries from the
bench to the bedside with the help of Interpace. Utilizing Das-1 to
identify patients at risk of pancreatic cancer has been our goal
for many years.” Details of the Agreement were not provided.
According to Tom Burnell, President & CEO of
Interpace, “The Agreement with these highly respected institutions
represents an important evolution of our GI franchise as we strive
to provide the most comprehensive risk assessment tool available
for physicians and their patients.” He continued, “This is also
another indication of our commitment to innovation and expanding
our clinical expertise even further.” 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 assessments, 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 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’s Biopharma provides pharmacogenomics
testing, genotyping, biorepository and other customized services to
the pharmaceutical and biotech industries. The Biopharma Business
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, and improving patient care.
For more visit Interpace Biosciences’ website information,
please 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 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 its $5M secured bridge
loan, the Company’s ability to maintain its Nasdaq listing in light
of its failure to meet minimum stockholder equity requirements as
of June 30, 2020, as well as the increased difficulty in meeting
the minimum stockholders’ equity requirement as a result of the
impairment charge, 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 most recent Annual
Report on Form 10-K filed on April 22, 2020, 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 RelationsEdison GroupJoseph
Green/ Megan Paul(646)
653-7030/7034jgreen@edisongroup.com/mpaul@edisongroup.com
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