Exagen Inc. Announces Agreement with Provider Network of America Expanding Access for AVISE® Tests to 8 Million Members
September 29 2020 - 7:25AM
Exagen Inc. (Nasdaq: XGN), an organization dedicated to
transforming the care continuum for patients suffering from
debilitating and chronic autoimmune diseases, today announced that
it has entered into a preferred provider network agreement with
Provider Network of America (PNOA). Under the terms of the
agreement, over 8 million PNOA members in the U.S. will have
in-network access to Exagen’s unique suite of AVISE® tests for
autoimmune disorders, including rheumatoid arthritis and lupus.
PNOA is a nationwide, direct contracted provider network
accessed by 526 payers, which has over 375,000 contracted
physicians and 12,000 hospitals and ancillary facilities under
contract, assuring reliable access to healthcare for providers,
payers and patients. More than 8 million PNOA members have access
to PNOA’s preferred provider organization network through a client
base consisting of cost containment companies, third party
administrators, commercial payers, Taft-Hartley Trust plans and
Native American Tribal Plans.
Jeremy Ramsland, Director of Sales and Marketing of PNOA said,
“PNOA is pleased to welcome Exagen and its proprietary AVISE®
testing into our preferred provider network. Autoimmune diseases
are notoriously difficult to diagnose and prognose under current
standards of care, and the AVISE® suite of testing products is an
important new tool enabling timely differential diagnosis and
improved outcomes for patients. All parties involved in healthcare,
from patients to payers, stand to benefit from more accurate
diagnosis and earlier intervention. Our partnership with Exagen
shows PNOA’s commitment to add progressive, cutting edge companies
to our national provider network.”
“This is an important step in securing Exagen’s reimbursement
strategy framework for broad payer coverage, in-network access and
widespread adoption of AVISE® testing as a standard of care,” said
Ron Rocca, President and Chief Executive Officer of Exagen. “Our
AVISE® tests enable timely and more accurate diagnosis of
autoimmune diseases such as lupus, which takes on average 6 years
to diagnose accurately. This partnership offers PNOA’s rheumatology
providers a suite of innovative tests to help enhance care for
PNOA’s members who may be suffering from autoimmune diseases.”
About Exagen Inc.
Exagen is dedicated to transforming the care continuum for
patients suffering from debilitating and chronic autoimmune
diseases by enabling timely differential diagnosis and optimizing
therapeutic intervention. Exagen has developed and is
commercializing a portfolio of innovative testing products under
its AVISE® brand, several of which are based on our proprietary
Cell-Bound Complement Activation Products, or CB-CAPs, technology.
Exagen’s goal is to enable rheumatologists to improve care for
patients through the differential diagnosis, prognosis and
monitoring of complex autoimmune and autoimmune related diseases,
including rheumatoid arthritis and lupus. For further information
please visit www.exagen.com.
Forward Looking Statements
Exagen cautions you that statements in this press release that
are not a description of historical facts are forward-looking
statements. These statements are based on the Company's current
beliefs and expectations. Such forward-looking statements include,
but are not limited to, statements regarding the expected benefits
of the partnership with PNOA, including the availability and
expected use of AVISE tests through the PNOA network, and any
potential for increased use of AVISE laboratory tests. The
inclusion of forward-looking statements should not be regarded as a
representation by Exagen that any of its plans will be achieved.
Actual results may differ from those set forth in this press
release due to the risks and uncertainties inherent in Exagen’s
business, including, without limitation: the COVID-19 pandemic may
continue to adversely affect our business, financial condition and
results of operations; Exagen’s commercial success depends upon
attaining and maintaining significant market acceptance of its
testing products and promoted therapeutics among rheumatologists,
patients, third-party payers and others in the medical community;
third party payers not providing coverage and adequate
reimbursement for the company’s testing products or promoted
therapeutics; the company’s ability to obtain and maintain
intellectual property protection for its testing products;
regulatory developments affecting the company’s business; risks
associated with maintaining third-party partnerships and Exagen’s
performance thereunder; and other risks described in the Company’s
prior press releases and in the Company’s filings with the
Securities and Exchange Commission, including under the heading
"Risk Factors" in the company’s Annual Report on Form 10-K and any
subsequent filings with the SEC. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof, and we undertake no obligation to
revise or update this press release to reflect events or
circumstances after the date hereof. All forward-looking statements
are qualified in their entirety by this cautionary statement, which
is made under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.
Investors:
Westwicke Partners
Mike Cavanaugh
Mike.Cavanaugh@westwicke.com
646.677.1838
Company:
Exagen Inc.
Kamal Adawi, Chief Financial Officer
KAdawi@exagen.com
760.477.5514
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