Interpace Enters Strategic Partnership Agreement with Genecast Biotechnology to Partner with Biopharma Solutions in China
PARSIPPANY, NJ, Sept. 16, 2019 (GLOBE NEWSWIRE) -- Interpace Diagnostics Group, Inc.’s subsidiary, Interpace BioPharma Inc. (“Interpace”, “Interpace BioPharma” or the “Company”) today announced that it has entered into a partnership agreement to jointly develop, promote, and offer translational studies and clinical trial solutions to biotech and pharmaceutical companies with Genecast (Beijing) Biotechnology Co. Ltd (“Genecast”) of the Peoples Republic of China (“PRC”). Genecast is a leader in offering diagnostic products and services in the field of oncology and providing a wide range of diagnostic services to pharmaceutical and biotech companies in the PRC. According to the agreement, Interpace BioPharma will perform services worldwide except in the PRC, while Genecast will provide services in the PRC.
Michael McCartney, Chief Commercial Officer of Interpace BioPharma, commented, “Genecast has an impressive, well-established menu of tumor profiling and clinical testing services and is the optimal partner to collaborate with our mutual capabilities to bring a global footprint to our biopharma solutions offerings. This collaboration is in line with our business strategy of driving sustainable, long-term growth and profitability by leveraging our unique capabilities.”
Du Bo, Co-Founder and CEO of Genecast, said, “As China plays a more important role in innovative drug development, global multi-center trials with programs in China have become a critical strategy of drug developers. This partnership with Interpace will strengthen our capabilities to provide our customers with high-quality, streamlined one-stop testing services globally and is in line with our strategy of helping pharmaceutical and biotech companies to accelerate their biomarker-driven drug development and drive precision medicine forward.”
Interpace is a leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications.
Interpace’s Biopharma Business is a market leader in providing pharmacogenomics testing, genotyping, and biorepository services to the pharmaceutical and biotech industries. The Biopharma Business also advances personalized medicine by partnering with pharmaceutical, academic, and technology leaders to effectively integrate pharmacogenomics into their drug development and clinical trial programs with the goals of delivering safer, more effective drugs to market more quickly, and improving patient care.
Interpace’s Diagnostic Business is a fully integrated commercial and bioinformatics business unit that provides clinically useful molecular diagnostic tests, bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. Interpace has four commercialized molecular tests and one test in a clinical evaluation process (CEP).
For more information, please visit Interpace’s website at www.interpacediagnostics.com.
Genecast (Beijing) Biotechnology Co. Ltd.
Genecast is a leader in offering diagnostic products & services in the field of oncology and providing a wide range of diagnostic services to pharmaceutical and biotech companies in the Peoples Republic of China (PRC). Genecast’s laboratories have met all applicable standards for accreditation including accreditation from the CAP and earned top marks in a number of external quality assessments carried out by CAP, EMQN, the Clinical Test Center of the National Health Commission of China and Center of Clinical Laboratories of Shanghai.
Genecast has formed collaborations with more than 20 pharmaceutical and biotech companies in providing comprehensive pre-clinical and clinical testing services.
For more information, please visit Genecast’s website at www.genecast.com.cn.
Genecast (Beijing) Biotechnology
Forward Looking Statements on Behalf of Interpace
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. The Company has attempted to identify forward looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, 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. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s most recent Annual Report on Form 10-K, 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, Edison Group
Released September 16, 2019