Precipio and H3 Biomedicine Sign Second Development Agreement
June 25 2019 - 09:15AM
Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO),
announced the initiation of a second development project with H3
Biomedicine that will include the creation of a targeted gene
panel. The panel will include a pre-amplification multiplexed PCR
that will amplify targeted regions of the key genes of interest.
The panel would be used by H3 Biomedicine for their ongoing
clinical development programs.
H3 Biomedicine was launched in 2011 with an
unprecedented $200 million funding commitment from Eisai, a leading
global pharmaceutical company pharmaceuticals company, plus
additional funding for clinical programs. As a clinical-stage
biopharmaceutical company, H3 uniquely leverages their distinct
insights from cancer genomics and real-life patient data to advance
their projects to clinical proof of concept and beyond. H3 embraces
a novel business model in which it collaborates with Eisai to
create a prolific drug discovery engine and partnership platform.
H3 currently has three compounds in phase I development.
The first project between H3 and Precipio was
the development of multiplexed PCR assays for PIK3CA and ESR1
genes. The second development project between the companies will
focus on the development of multiplexed PCR assays for FGFR3,
PIK3CA, HRAS, TERT and PLEKHS1. During the project, Precipio will
develop nine amplicons within the genes of interest and focus on
the amplification and multiplexing of the mutations of
interest.
“We are extremely pleased to be working with the team at H3
Biomedicine on this second project. The work that our team has done
with our multiplexed ICE COLD-PCR puts these types of development
projects right in our wheel-house”, stated Stephen Miller, Chief
Commercial Officer of Precipio. “This is one of many projects in
our pipeline that demonstrates Precipio’s value to pharma and
biotech companies as they take their research from the bench to the
clinical setting.” Mr. Miller commented.
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 April 19, 2019 , the Company’s Quarterly Report
on Form 10-Q for the quarter ended March 31, 2019 and on the Annual
Report on Form 10-K for the year ended December 31, 2018 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 Feb 2024 to Mar 2024
Precipio (NASDAQ:PRPO)
Historical Stock Chart
From Mar 2023 to Mar 2024