Interpace Announces Notice of Allowance from U.S. Patent and Trademark Office Covering BarreGEN®
December 17 2018 - 06:50AM
BarreGEN® is
Interpace’s Lead Molecular Diagnostic
Interpace Diagnostics Group, Inc. (“Interpace”) (NASDAQ: IDXG)
announced today that a Notice of Allowance has been issued by the
United States Patent and Trademark Office (USPTO) for United States
Patent Application No. 13/692,727, for methods treating patients
with Barrett’s metaplasia that are identified as being at high risk
to develop esophageal adenocarcinoma. The Patent, when issued, is
expected to have a term that expires in 2032.
“We are extremely pleased at having received
this important notice of allowance from the USPTO for this
cornerstone patent supporting BarreGEN®,” said Jack Stover,
President and CEO of Interpace. “This is an important milestone for
Interpace and will further support expanding our clinical
activities related to BarreGEN®, our proprietary esophageal cancer
risk classifier for Barrett’s Esophagus, which helps predict which
patients with Barret’s Esophagus will progress to Esophageal Cancer
over time.”
“We believe that the claims allowed will enable
Interpace to differentiate BarreGEN® in the marketplace and are
supportive of our plans to accelerate commercialization of
BarreGEN®,” continued Mr. Stover.
About BarreGEN®
BarreGEN® is Interpace’s lead pipeline product
and is currently in a Clinical Evaluation Program (CEP). BarreGEN®
enables physicians to assess the risk of patients with Barrett’s
Esophagus of progressing to esophageal cancer. BarreGEN® is powered
by the Company’s Pathfinder TG® platform. Between 15% and 30% of
adults in the US have gastrointestinal reflux disease (GERD) and
10% to 15% of adults with GERD progress to Barrett’s Esophagus.
About Interpace Diagnostics Group, Inc.
Interpace is a fully integrated commercial and
bioinformatics company that provides clinically useful molecular
and related first line 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. The Company’s data base includes data from over
45,000 patients who have been tested using the Company’s current
products, including over 15,000 molecular tests for thyroid
nodules. Interpace has been designated by CIO Applications magazine
as one of the top 20 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, 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 history of losses, the Company's
ability to adequately finance the 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 molecular
diagnostic 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 the Company’s ability to successfully commercialize
BarreGEN® I including collecting clinical data and obtaining
reimbursement. Additionally, all forward-looking statements are
subject to the “Risk Factors” detailed from time to time in the
Company's SEC filings, including its Annual Report on Form 10-K for
the fiscal year ended December 31, 2017, filed on March 23, 2018,
Quarterly Reports on Form 10-Q and other SEC filings. 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:
Interpace DiagnosticsInvestor RelationsJoseph Green / Andrew
Gibson646-653-7030 / 7719jgreen@edisongroup.com/
agibson@edisongroup.com
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