Interpace Announces Notice of Allowance from U.S. Patent and Trademark Office Covering BarreGEN®
BarreGEN® is Interpace’s Lead Molecular Diagnostic
Pipeline Product for Barrett’s Esophagus
Parsippany, NJ, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Interpace Diagnostics Group, Inc. (“Interpace”) (NASDAQ: IDXG) announced today that a Notice of Allowance has been issued by the United States Patent and Trademark Office (USPTO) for United States Patent Application No. 13/692,727, for methods treating patients with Barrett’s metaplasia that are identified as being at high risk to develop esophageal adenocarcinoma. The Patent, when issued, is expected to have a term that expires in 2032.
“We are extremely pleased at having received this important notice of allowance from the USPTO for this cornerstone patent supporting BarreGEN®,” said Jack Stover, President and CEO of Interpace. “This is an important milestone for Interpace and will further support expanding our clinical activities related to BarreGEN®, our proprietary esophageal cancer risk classifier for Barrett’s Esophagus, which helps predict which patients with Barret’s Esophagus will progress to Esophageal Cancer over time.”
“We believe that the claims allowed will enable Interpace to differentiate BarreGEN® in the marketplace and are supportive of our plans to accelerate commercialization of BarreGEN®,” continued Mr. Stover.
BarreGEN® is Interpace’s lead pipeline product and is currently in a Clinical Evaluation Program (CEP). BarreGEN® enables physicians to assess the risk of patients with Barrett’s Esophagus of progressing to esophageal cancer. BarreGEN® is powered by the Company’s Pathfinder TG® platform. Between 15% and 30% of adults in the US have gastrointestinal reflux disease (GERD) and 10% to 15% of adults with GERD progress to Barrett’s Esophagus.
About Interpace Diagnostics Group, Inc.
Interpace is a fully integrated commercial and bioinformatics company that provides clinically useful molecular and related first line diagnostic tests and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. The Company currently has four commercialized molecular tests and one test in a clinical evaluation process (CEP); PancraGEN® for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; ThyGeNEXT® for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; ThyraMIR® for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay; and RespriDx™, that differentiates lung cancer of primary vs. metastatic origin. The Company’s data base includes data from over 45,000 patients who have been tested using the Company’s current products, including over 15,000 molecular tests for thyroid nodules. Interpace has been designated by CIO Applications magazine as one of the top 20 companies for providing bioinformatics solutions. Interpace’s mission is to provide personalized medicine through molecular diagnostics, innovation and data to advance patient care based on rigorous science. For more information, please visit Interpace’s website at www.interpacediagnostics.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to the Company's future financial and operating performance, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, the Company’s history of losses, the Company's ability to adequately finance the business, the market's acceptance of its molecular diagnostic tests, its ability to retain or secure reimbursement, its ability to secure additional business and generate higher profit margins through sales of its molecular diagnostic tests, in-licensing or other means, projections of future revenues, growth, gross profit and anticipated internal rate of return on investments, its ability to maintain its NASDAQ listing and the Company’s ability to successfully commercialize BarreGEN® I including collecting clinical data and obtaining reimbursement. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company's SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed on March 23, 2018, Quarterly Reports on Form 10-Q and other SEC filings. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Joseph Green / Andrew Gibson
646-653-7030 / 7719
Released December 17, 2018