LungLife AI, INC CPT(R) Code granted by American Medical Association (2499X)

TIDMLLAI

RNS Number : 2499X

LungLife AI, INC

04 January 2022

LungLife AI, Inc.

(the "Company" or "LungLife")

CPT(R) Code granted by American Medical Association

Successful grant marks first step facilitating commercial reimbursement

LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung cancer announces it has been granted a CPT(R) Proprietary Laboratory Analyses (PLA) code for its LungLB(R) test by the American Medical Association (AMA). The new code has been approved and published by the AMA Editorial Panel and is scheduled to become effective on 1 April 2022.

Reimbursement in the US is comprised of three components: code, price, and coverage. CPT(R) codes offer health care professionals a uniform language for coding medical services and procedures, and the CPT(R) code allows clinical laboratories to more specifically identify their tests when billing Medicare and commercial insurers. The successful granting of a CPT(R) code marks the first step on the path for commercial reimbursement.

Paul Pagano , Chief Executive Officer, LungLife AI said: "A CPT(R) code is fundamental in the commercialisation of the LungLB(R) test. We were delighted with the AMA's decision as this will facilitate access to LungLB(R) for patients with indeterminate pulmonary nodules who are at-risk for lung cancer."

For further information please contact:

 
LungLife AI, Inc.                                                           www.lunglifeai.com 
Paul Pagano, CEO                                                               Via Walbrook PR 
David Anderson, CFO 
 
Investec Bank plc (Nominated Adviser                                  Tel: +44 (0)20 7597 5970 
 & Broker) 
Daniel Adams / Virginia Bull / Cameron 
 MacRitchie 
 
Walbrook PR Limited                      Tel: +44 (0)20 7933 8780 or LungLifeAI@walbrookpr.com 
Paul McManus / Alice Woodings                               Mob: 07980 541 893 / 07407 804 654

About LungLife AI

LungLife is a developer of clinical diagnostic solutions for lung cancer enhanced by artificial intelligence. The Company's diagnostic solutions are designed to make a significant impact in the early detection of lung cancer.

The Company's technology is a combination of the recovery of rare cells and blood-based biomarkers shown to be altered in lung cancer. The Company employs machine learning to improve biomarker detection, and intends to build a deep, novel pool of lung cancer-related data for AI-enabled applications designed to improve its diagnostic solutions over time.

The Company's core technologies are integrated in the LungLB(R) test, which is intended to be used as a tool to provide physicians with additional information to help in the decision-making process for people with indeterminate lung nodules that may be lung cancer following a CT scan. There are estimated to be over 1.5 million individuals with indeterminate lung nodules diagnosed each year in the United States. The LungLB(R) test may have additional utilities, the most significant of which is likely to be in monitoring individuals for recurrence following surgical removal of cancerous lung nodules.

The Company has completed a 149 subject pilot study to evaluate the LungLB(R) test, which showed a well-balanced performance and a Positive Predictive Value of 89 per cent. The Company is now gearing up to proceed to a larger, multi-centre validation study to garner regulatory and reimbursement support and facilitate commercialisation.

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