Interpace Diagnostics Group (NASDAQ:IDXG) (“Interpace” or “the
Company”), a fully integrated commercial and bioinformatics company
that provides clinically useful molecular diagnostic tests and
pathology services for improved patient diagnosis and management,
reported today that the Company has entered into an Agreement with
Vanderbilt University Medical Center (VUMC) based in Nashville, TN,
one of the largest and most prestigious academic medical centers in
the country. The new Agreement between Interpace and VUMC enables
all physicians across the Vanderbilt system access to
both ThyGenX® (now ThyGeNEXT®) and ThyraMIR® for patients with
indeterminate thyroid nodules.
ThyGeNEXT® – ThyraMIR® represents the only tests in the market
that combine the rule-in properties of next-generation sequencing
of a patient’s DNA and RNA, with the rule-out capabilities of a
micro-RNA classifier to provide physicians with clinically
actionable test results. Since 2015, Interpace has conducted over
15,000 ThyGenX® (the predecessor to ThyGeNEXT®) and ThyraMIR® tests
for nearly 400 physicians and hospitals nationwide.
According to the American Cancer Society, thyroid cancer is the
most rapidly increasing cancer in the U.S., tripling in the past
three decades. Most physicians have traditionally recommended
thyroid surgery where thyroid nodule biopsy results are
indeterminate, not clearly benign, or malignant following
traditional cytopathology review; however, 70%-80% of these
surgical outcomes are ultimately benign. Molecular testing
using ThyGenX® (now ThyGeNEXT®) – ThyraMIR® has been shown to
reduce the rate of unnecessary surgeries in indeterminate
cases.
Jack Stover, President and CEO of Interpace, said, “This
Agreement with such a well-regarded institution as VUMC is another
strong indication of the increased interest in ThyGeNEXT® and
ThyraMIR® for use in improved classification of indeterminate
thyroid nodules.” Stover added, “We are pleased that the physicians
and patients within the VUMC and its network now have access
to our molecular tests for thyroid cancer.”
About Vanderbilt University Medical
CenterVanderbilt University Medical Center is considered
one of the nation’s Best Hospitals as ranked by the well-known U.S.
News & World Report and is considered the number one Hospital
in the State of Tennessee. Managing more than 2.2 million patient
visits each year, Vanderbilt is the primary resource for specialty
and primary care in hundreds of adult and pediatric specialties for
patients throughout Tennessee and the Mid-South. The School of
Medicine’s biomedical research program is among the nation’s top 10
in terms of National Institutes of Health peer reviewed funding,
receiving more than $550 million in public and private awards
during 2016. The Medical Center is the region’s locus of
postgraduate medical education, with over 1,000 residents and
fellows training in more than 100 specialty areas. Vanderbilt
University Adult Hospital and the Monroe Carell Jr. Children’s
Hospital at Vanderbilt are recognized each year by U.S. News &
World Report’s Best Hospitals rankings as national leaders, with 19
nationally ranked adult and pediatric specialties. Through the
Vanderbilt Health Affiliated Network, VUMC is working with more
than 60 hospitals and 5,000 clinicians across Tennessee and five
neighboring states to share best practices and bring value-driven
and cost-effective health care to the Mid-South.
About Interpace Diagnostics Group,
Inc.Interpace is a fully integrated commercial and
bioinformatics company that provides clinically useful molecular
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; ThyGenX® (now
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.
BarreGEN® for Barrett's Esophagus, is currently being “soft
launched” with key opinion leaders as we continue to gather data on
this assay that will assist us in seeking favorable reimbursement
as well as important clinical information. Barrett's Esophagus is a
rapidly growing diagnosis that affects over three million people in
the US and over time can progress to esophageal cancer. 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 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
About Thyroid Nodules, ThyGenX® (and now ThyGeNEXT®) and
ThyraMIR® testingAccording to the American Thyroid
Association, approximately 15% to 30% of the 525,000 thyroid fine
needle aspirations (FNAs) performed on an annual basis in the U.S.
are indeterminate for malignancy based on standard cytological
evaluation, and thus are candidates for ThyGenX® (and now
ThyGeNEXT®) and ThyraMIR®.
ThyGenX® (and now ThyGeNEXT®) and ThyraMIR® reflex testing
yields high predictive value in determining the presence and
absence of cancer in thyroid nodules. The combination of both tests
can improve risk stratification and surgical decision-making when
standard cytopathology does not provide a clear diagnosis for the
presence of cancer.
ThyGenX® (and now ThyGeNEXT®) utilizes state-of-the-art
next-generation sequencing (NGS) to identify more than 100 genetic
alterations associated with papillary and follicular thyroid
carcinomas, the two most common forms of thyroid cancer. ThyraMIR®
is the first microRNA gene expression classifier. MicroRNAs are
small, non-coding RNAs that bind to messenger RNA and regulate
expression of genes involved in human cancers, including every
subtype of thyroid cancer. ThyraMIR® measures the expression of 10
microRNAs, and through a proprietary algorithm, provides insight of
cancer risk. Both ThyGenX® (and now ThyGeNEXT®) and ThyraMIR® are
covered by both Medicare and Commercial insurers.
ThyGeNEXT® is a proprietary new mutational panel for
indeterminate thyroid nodules. ThyGeNEXT® includes numerous
additional molecular markers, gene mutations, and RNA fusions
compared to ThyGenX®. The new product represents a more
comprehensive set of indicators to not only identity malignant or
benign nodules, but also ascertain aggressiveness and other
characteristics.
Forward Looking StatementsThis 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 Company's ability to adequately finance the business, its
ability to restructure its liabilities and other obligations, 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 and its ability
to maintain its NASDAQ listing.. 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 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.
CONTACT:
Interpace Diagnostics Investor RelationsJoe Green – Edison
Group(646) 653-7030jgreen@edisongroup.comAndrew Gibson – Edison
Group(646) 653-7719agibson@edisongroup.com
Interpace Biosciences (NASDAQ:IDXG)
Historical Stock Chart
From Apr 2024 to May 2024
Interpace Biosciences (NASDAQ:IDXG)
Historical Stock Chart
From May 2023 to May 2024