Interpace Diagnostics Enters Agreement with Predictive Oncology to Enhance Diagnosis of Thyroid Cancer Via AI-Driven Analysis...
July 18 2019 - 6:55AM
Interpace Diagnostics Group, Inc. (NASDAQ: IDXG) (“Interpace” or
the “Company), announced today that it has executed an agreement
with the Helomics division of Predictive Oncology (NASDAQ: POAI), a
company focused on applying artificial intelligence to personalized
medicine and drug discovery.
As part of this agreement, the Companies expect
to develop a pipeline of products that work seamlessly together to
diagnose and assess the risk for thyroid cancer as well as provide
appropriate therapeutic recommendations by leveraging Interpace’s
Thyroid products, ThyGeNEXT® and ThyraMIR®, coupled with Helomics’
patient-derived tumor profiling and AI platform known as “D-CHIP.”
Under the plan for this phase of the agreement Helomics will build
a model using Interpace’s existing clinical data which can be
utilized to identify druggable targets for treatment of indolent
and aggressive thyroid cancers.
“The better we understand thyroid cancer, the
better equipped we are to both diagnose and predict treatment
outcomes,” added Jack Stover, CEO of Interpace Diagnostics. “We
believe that this collaboration with Helomics is a significant step
to help us better diagnose thyroid cancer, resulting in existing
product line extensions as well as potentially new products and
partnerships based on the AI-driven models Helomics is
building.”
“Our collaboration with Interpace is a prime
example of the capabilities that Helomics brings to improve
diagnostics and BioPharma products,” commented Gerald Vardzel,
president of Helomics. “We look forward to continuing this
collaboration with Interpace and to future successful outcomes
together.”
It is estimated that the treatment market for
thyroid cancer was valued at approximately $340 million in 2018 and
is expected to reach $2.1 billion by the end of 2025.
About Interpace Diagnostics, Group,
Inc.
Interpace 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’s Diagnostic Business 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 Business is a market
leader in providing pharmacogenomics testing, genotyping, and
biorepository 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 information, please visit Interpace’s
website at www.interpacediagnostics.com.
About Predictive Oncology
Inc.
Predictive Oncology (Nasdaq: POAI) operates
through its three wholly owned subsidiaries, Helomics, TumorGenesis
and Skyline Medical. Helomics applies artificial intelligence to
its rich data gathered from patient tumors to both personalize
cancer therapies for patients and drive the development of new
targeted therapies in collaborations with pharmaceutical companies.
Helomics’ CLIA-certified lab provides clinical testing that assists
oncologists in individualizing patient treatment decisions, by
providing an evidence-based roadmap for therapy. In addition to its
proprietary precision oncology platform, Helomics offers boutique
CRO services that leverage its TruTumor™, patient-derived tumor
models coupled to a wide range of multi-omics assays (genomics,
proteomics and biochemical), and an AI-powered proprietary
bioinformatics platform (D-CHIP) to provide a tailored solution to
its clients’ specific needs. Predictive Oncology’s TumorGenesis
subsidiary is developing a new rapid approach to growing tumors in
the laboratory, which essentially “fools” cancer cells into
thinking they are still growing inside a patient. Its proprietary
Oncology Discovery Technology Platform kits will assist researchers
and clinicians to identify which cancer cells bind to specific
biomarkers. Once the biomarkers are identified they can be used in
TumorGenesis’ Oncology Capture Technology Platforms which isolate
and help categorize an individual patient’s heterogeneous tumor
samples to enable the development of patient specific treatment
options. Helomics and TumorGenesis are focused on ovarian cancer.
Predictive Oncology’s Skyline Medical subsidiary markets its
patented and FDA cleared STREAMWAY System which automates the
collection, measurement and disposal of waste fluid, including
blood, irrigation fluid and others, within a medical facility,
through both domestic and international divisions. The company has
achieved sales in five of the seven continents through both direct
sales and distributor partners. For more information, please visit
www.predictive-oncology.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 fact that there is no assurance that there will be
shareholder approval of a portion of Ampersand’s investment or that
Ampersand will make the second tranche investment, that the
acquisition will be successfully integrated with the Company, or
that the potential benefits of the acquisition, including future
revenues, will be successfully realized, the Company’s history of
losses, the market's acceptance of its tests, the Company’s ability
to retain and secure reimbursement, and the Company’s ability to
maintain its NASDAQ listing, among other things. 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.
Contacts: Investor RelationsEdison GroupJoseph
Green(646) 653-7030jgreen@edisongroup.com
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