Interpace Diagnostics Recognized as One of the Top 20 Bioinformatics Solutions Providers
Company Focusing on Leveraging Data from Over 45,000 Patients
PARSIPPANY, N.J., Jan. 08, 2018 (GLOBE NEWSWIRE) -- Interpace Diagnostics Group, Inc. (NASDAQ:IDXG) (“Interpace” or the “Company”), a fully integrated commercial and bioinformatics company that provides clinically useful molecular diagnostic tests and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management announced today that CIO Applications, a publication that is known to offer professionals a comprehensive collection of industry trends, has designated Interpace Diagnostics as one of the top 20 Companies in 2017 for providing bioinformatics solutions to their customers thru the Company’s extensive database of molecular testing results.
The December 2017 edition of CIO Applications notes, “The list highlights some of the most prominent organizations in the industry who are competent in leading their clients toward excellence by offering innovative solutions in the Bioinformatics landscape.”
In addition to Interpace, the top 20 companies include Roche Sequencing Solutions, Qiagen, Precision Medicine Group, Illumina, and AltheaDX. The rising applications of bioinformatics in drug discovery, development, and clinical trials are believed to be contributing to the growth of the bioinformatics market.
As noted in the article, “Interpace’s databases contain molecular testing results along with numerous other data elements for thousands of patients across a wide array of cancer types including Pancreatic, Thyroid, Esophageal, and Lung.” One example is the National Pancreatic Cyst Registry, one of the largest databases of molecular data on patients with suspicious pancreatic cancer. According to CIO Applications, “the list aspires to assist individuals and companies to find the right bioinformatics solutions provider that meets their specific requirements and assist them in completing their projects.”
The full article can be found at:
According to Jack Stover, President and CEO of Interpace, “We are pleased to be recognized by CIO Applications for our ability to deliver bioinformatics solutions to our current customers as well as potentially to other organizations who find value in our substantial expertise in high throughput DNA analysis and our extensive databases of patient results and other important data. We believe that this publication further validates the value of our growing database of over 45,000 patients who have been tested with our current products. We look forward to further developing and expanding this bioinformatics opportunity in the pharmaceutical sector and elsewhere in 2018 and beyond.”
About Interpace Diagnostics Group, Inc.
Interpace is a fully integrated commercial and bioinformatics company that provides clinically useful molecular 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; ThyGenX®, 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. BarreGEN® for Barrett's Esophagus, is currently being “soft launched” with key opinion leaders as we continue to gather data on this assay that will assist us in seeking favorable reimbursement as well as important clinical information. Barrett's Esophagus is a rapidly growing diagnosis that affects over three million people in the US and over time can progress to esophageal cancer. The Company’s database 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 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. 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. Known and unknown risks, uncertainties and other factors include, but are not limited to, 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 and its ability to maintain its NASDAQ listing. 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 and 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.
Released January 8, 2018