Precipio Signs HemeScreen™ Deals with Two Leading Oncology Groups
January 20, 2021 at 10:00 am
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Precipio, Inc. has signed agreements with two oncology practices in the US, West Cancer Center of Memphis, TN; and New York Cancer & Blood Specialists of New York. During the coming weeks, both practices will be bringing Precipio’s HemeScreen technology in-house. The implementation of HemeScreen will enable these practices to significantly improve turnaround time for important molecular tests for diseases such as MPN (Myeloproliferative Neoplasms), CLL (Chronic Lymphocytic Leukemia) and AML (Acute Myeloid Leukemia), delivering better care to their cancer patients. Following the recent publication introducing HemeScreen to physician office laboratories (POLs) in ION’s Oncologists Magazine, the partnership with ION has the potential to continue to open doors to hundreds of independent community oncology practices nationwide, with a joint effort of both companies’ sales teams to introduce this patient-centric technology to those groups. The onboarding of these two customers will have a material impact to Precipio, and has the potential to generate seven-figure revenue to Precipio. As Precipio’s R&D team continues to expand its panels and its HemeScreen offering to new diseases, the company’s growing installed customer base will benefit from broadened testing opportunities, increasing revenue to the oncology practice. These ongoing developments will also have the potential of delivering increased market share and revenue to Precipio from expanded reagent sales.
Precipio, Inc. is a healthcare biotechnology company that is focused on cancer diagnostics. It develops and sells diagnostic products, reagents and services that improve the accuracy and efficiency of diagnostics, and lead to fewer misdiagnoses. The Companyâs technologies include HemeScreen and IV-Cell. IV-Cell is a cell culture media that addresses the problem of diagnostic mistakes through the process of selective culturing. IV-Cell is a universal media that enables simultaneous culturing of all four hematopoietic cell lineages. Its technology enables testing to be completed in one rapid scanning process. The HemeScreen panels test for the presence of various mutations. In developing HemeScreen, it focused on improving the economics of providing blood cancer diagnostic tests and reducing laboratory technician time consumed in the testing process. The Companyâs laboratory and research and development (R&D) facilities are located in New Haven, Connecticut and Omaha, Nebraska.