Continued ICP Orders From Japanese Customers
March 05 2019 - 7:40AM
Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO),
announced today that it continues to receive both new and repeat
business from customers in Japan for its ICP liquid biopsy
enrichment technology. In Particular, Precipio’s EGFR Exon 20 assay
is proving to be of substantial clinical interest in the Japanese
hospital market.
Recently, Kyorin University Hospital in Tokyo,
placed its third order for Precipio’s ICP assay. The RUO reagents
kit will be used for clinical research purposes within the hospital
laboratory. The National Cancer Center of Japan estimates 1 million
new cancer incidences in 2018; of these approximately 12.5% were
lung cancer patients1. Of the estimated 380,000 patients dying of
cancer in 2018 in Japan, approximately 77,500, or 20%, were
expected to be lung cancer patients, representing the #1 cause of
cancer deaths in Japan.
Clinical Value
The primary application for the EGFR Exon 20
liquid biopsy is to enable physicians to monitor lung cancer
patients who are currently on a type of chemotherapy termed TKI
(Tyrosine-kinase inhibitor). Lung cancer patients with an EGFR
mutation can be treated with a TKI therapy.
During the course of treatment, some patients
will develop resistance to that treatment, thus rendering it
ineffective. Monitoring the patient on an ongoing basis to identify
the existence of these mutations as early as possible is critical
to avoiding reaching this stage. Rather than having to biopsy the
patient repeatedly, Precipio’s ICP assay enables physicians to
conduct a simple blood draw and test for these mutations.
“Repeat orders from the same customer
demonstrate both the attractiveness of our technology, as well as
the ability to move from the trial phase to a revenue generating
customer,” commented Stephen Miller, Precipio’s Chief Commercial
Officer. “Market adoption in technologically-advanced countries
such as Japan, is a testament to the market potential and the
clinical significance of the products we sell.”
About Precipio
Precipio has built a platform designed to
eradicate the problem of misdiagnosis by harnessing the intellect,
expertise and technology developed within academic institutions and
delivering quality diagnostic information to physicians and their
patients worldwide. Through its collaborations with world-class
academic institutions specializing in cancer research, diagnostics
and treatment such as the Yale School of Medicine and Harvard’s
Dana-Farber Cancer Institute, Precipio offers a new standard of
diagnostic accuracy enabling the highest level of patient care. For
more information, please visit www.precipiodx.com.
Forward-Looking Statements
Certain statements in this press release
constitute “forward-looking statements,” within the meaning of
federal securities laws, including statements related to ICP
technology, including financial projections related thereto and
potential market opportunity, plans and prospects and other
statements containing the words “anticipate,” “intend,” “may,”
“plan,” “predict,” “will,” “would,” “could,” “should,” and similar
expressions, constitute forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of
various factors. Factors that could cause future results to
materially differ from the recent results or those projected in
forward-looking statements include the known risks, uncertainties
and other factors described in the Company’s definitive proxy
statement filed on May 29, 2018, the Company’s Quarterly Report on
Form 10-Q for the quarter ended September 30, 2018 and on the
Annual Report on Form 10-K for the year ended December 31, 2017 as
well as the Company’s prior filings and from time to time in the
Company’s subsequent filings with the Securities and Exchange
Commission. Any change in such factors, risks and uncertainties may
cause the actual results, events and performance to differ
materially from those referred to in such statements. All
information in this press release is as of the date of the release
and the Company does not undertake any duty to update this
information, including any forward-looking statements, unless
required by law.
Inquiries:
investors@precipiodx.com
+1-203-787-7888______________________________
1
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