Precipio Conducts IV-Cell™ Validation Trial with a Prominent Laboratory
May 06 2019 - 09:20AM
Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO),
announced that it is in the process of completing a trial of its
Proprietary IV-Cell media with a significant laboratory (name
undisclosed at this time). The purpose of the trial is to
demonstrate the capabilities of Precipio’s proprietary IV-Cell
media within the cytogenetics department alongside the existing
media used; and compare results. Upon successful completion of the
study, Precipio and the laboratory shall continue their commercial
discussions to become the lab’s provider of the IV-Cell media for
ongoing clinical use within its cytogenetics laboratory.
As part of its commercialization initiative of
the IV-Cell media, Precipio’s commercial team is contacting key
strategic laboratories globally in order to conduct similar trials
of the media. The goal is to reach several customers by year end,
generating 7-figure revenue from the sale of the media.
Additionally, Precipio is in the final stages of
negotiations with a large-scale manufacturer for the media. Upon
the signing of the manufacturing agreement, Precipio will announce
the name of the manufacturer to the market and commence production
and supply of the media to its laboratory customers.
“We are pleased with the positive responses we
have received from these large laboratories, who are expressing
keen interest in incorporating our IV-Cell media into their
cytogenetics operations with a goal of replacing their current
media.” said Stephen Miller, Precipio’s Chief Commercial Officer.
“This market is eager to deploy superior results-driven and
innovative solutions which drive improved outcome-based clinical,
operational and economic value to cytogenetics laboratories.
For more information on Precipio’s IV-Cell
media, laboratories with cancer cytogenetics operations are invited
to inquire at bd@precipiodx.com or by calling 203.787.7888.
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 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 Definitive Proxy filed by the
Company on April 29, 2019 and the Company’s Annual Report on Form
10-K for the year ended December 31, 2018 as filed on April 16,
2019 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
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