Precipio Identifies Manufacturer for its IV-Cell Media
April 09 2019 - 9:15AM
Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO)
announced today that it is negotiating a definitive agreement with
a manufacturer to produce its IV-Cell media.
Over the past year, Precipio has been working to commercialize
its patented IV-Cell media by offering the Research-Use Only (RUO)
based media to large laboratory customers who offer cancer
cytogenetics testing. As part of Precipio’s continuous effort to
expand and improve the economics of our business, it became
apparent that the best alternative for Precipio would be to
identify a manufacturing partner to produce the media for those
customers. As a clinical laboratory and developer of these
innovative products, Precipio prefers to outsource manufacturing to
a company experienced in large-scale regulated manufacturing.
The manufacturing partner identified has the necessary
experience and expertise, as well as scalable, large volume
manufacturing capabilities. In addition, they have the embedded
quality-control processes, and the various ISO-related
certifications required to mass-produce the media for global
distribution.
“This is an exciting time for us, as we move towards the start
of commercializing the technologies we’ve developed,” said Ilan
Danieli, Chief Executive Officer of Precipio. “The company and its
shareholders deserve to reap the benefits of the innovative
products developed, as we translate ideas in the laboratory into
products - and revenue, for the company.”
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 IV-Cell
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 November 19, 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
Precipio (NASDAQ:PRPO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Precipio (NASDAQ:PRPO)
Historical Stock Chart
From Apr 2023 to Apr 2024