LungLife AI, INC Data on cost-effectiveness of LungLB(R) (0626R)

TIDMLLAI

RNS Number : 0626R

LungLife AI, INC

27 February 2023

LungLife AI, Inc.

(the "Company" or "LungLife")

Nodule evaluation using LungLB(R) projected to be cost-effective in US healthcare system

Data strongly support payor coverage of indeterminate lung nodule evaluation using LungLB(R) in peer-reviewed publication in the Journal of Medical Economics

LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung cancer, announces a draft publication of a cost-effectiveness analysis ("CEA") model on LungLB(R) which provides evidence that the test can be utilised as a cost-effective alternative compared to the current diagnostic pathway. Once the final publication as a Version of Record is issued a further announcement will be made.

The principal aim of the research was to explore the incremental cost-effectiveness of LungLB(R) when added to the current clinical diagnostic pathway for patients with lung nodules, as described in guidelines(1) . The greater cost savings in the model were demonstrated by a reduction in unnecessary procedures and better patient outcomes from reduced delays in treatment.

Incremental Cost-Effectiveness Ratio (ICER) is a key metric used in the publication to demonstrate cost effectiveness. Integration of LungLB(R) leads to improvement in outcomes and results in an ICER that was 25% below the willingness to pay (WTP) threshold commonly considered by US commercial payors, suggesting overall savings when LungLB(R) is priced at $2,300 per test. ICERs remain below WTP thresholds at prices up to $3,647 per test .

(1) Evaluation of individuals with pulmonary nodules: when is it lung cancer? Diagnosis and Management of lung cancer, 3(rd) ed: American College of Chest Physicians evidence-based clinical practice guidelines .

Commenting, Paul Pagano, Chief Executive Officer of LungLife, said : "This health economics publication advances our progress towards supporting payor coverage of LungLB(R), and is in-line with the pricing of $2,030 recently assigned to the test by the Centers for Medicare and Medicaid Services. "

CEA examines the costs associated with health outcomes when a new intervention is compared to a standard care pathway. Both public and private payors often use CEA to determine how much it would cost to implement the new intervention. The model was developed in collaboration with a third-party, Avalon Health Economics.

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) 
Virginia Bull / Cameron MacRitchie 
 / Lydia Zychowska 
 
Walbrook PR Limited                    Tel: +44 (0)20 7933 8780 or LungLifeAI@walbrookpr.com 
Stephanie Cuthbert / Alice Woodings                     Mob: 07980 541 893 / 07407 804 654 / 
 / Phillip Marriage                                                            07867 984 082

About LungLife

LungLife AI is a developer of clinical diagnostic solutions designed to make a significant impact in the early detection of lung cancer, the deadliest cancer globally. Using a minimally invasive blood draw, the Company's LungLB(R) test is designed to deliver additional information to clinicians who are evaluating indeterminate lung nodules. For more information visit www.lunglifeai.com

Our Purpose is to be a driving force in the early detection to lung cancer. And our Vision is to invert the 20:80 ratio such that in years to come at least 80% of lung cancer is detected early.

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