Methodist Will Begin Development of a Lung Cancer Resistance Mutation Assay to be Run on Liquid Biopsy Samples
NEW HAVEN, CT / ACCESSWIRE / November 1, 2017 / Precipio, Inc. (NASDAQ: PRPO), announced today that Methodist Healthcare has
selected Precipio's RUO ICE-COLD PCR™ (ICP) technology as their liquid biopsy mutation enrichment platform. Memphis Pathology Group
will be the primary molecular laboratory servicing Methodist Healthcare using ICP; it will begin the implementation and validation
of ICP as a mutation enrichment platform within their laboratory in early November, to be used in the process of developing assays
for the detection of lung cancer mutations.
"We considered several other methods and decided that ICE-COLD PCR™ (ICP) is the mutation enrichment technology that will allow
our laboratory to cost-effectively detect critical mutations at very low levels in plasma," said Shari Brown, MD, Director of
Molecular Oncology for the Memphis Pathology Group. "Utilizing ICP as a platform to develop assays that monitor various resistance
mutations will be a tremendous benefit to our researchers and physicians at Methodist Healthcare."
"We are extremely excited to add yet another customer that sees the advantages of ICE-COLD PCR™ compared to competing
technologies. Memphis Pathology Group will lead an exciting effort to develop liquid biopsy testing using ICP, enabling detection
of mutations at very low levels within liquid biopsies," said Ilan Danieli, President and Chief Executive Officer of Precipio.
"ICE-COLD PCR™ is now beginning to deliver on the promise of the technology developed at Dana Farber; Precipio's R&D team has
done a tremendous job at developing ICP into an attractive, marketable RUO product; and Precipio's commercial team has, in the
brief timeline since our newly-designed kits were launched, done an outstanding job at continuing to grow our customer base. The
addition of Methodist Healthcare is yet another demonstration of the potential that ICP, and Precipio's product offerings, hold in
the market," concluded Mr. Danieli.
About Methodist Healthcare
Methodist Healthcare is home to both scientists, and care providers; with experts from a variety of medical and scientific
disciplines, working together to provide an integrated experience for our patients - from screening and diagnosis to personalized
treatment options. In 2012, Methodist Healthcare and The University of Tennessee Health Science Center joined forces with the West
Clinic to create West Cancer Center, delivering comprehensive cancer care to more than 30,000 patients each year. This innovative
partnership brings together pioneering leaders to enhance the study and treatment of cancer in the Mid-South and beyond. Methodist
Healthcare's main hospital in Memphis is a 1,397-bed general medical and surgical facility with 62,624 admissions in the most
recent year reported. It performed 19,413 annual inpatient and 21,194 outpatient surgeries; its emergency room had 334,134
visits.
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, initially the Yale School of Medicine, 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 Precipio's merger with Transgenomic, consolidation of laboratory operations, reductions of accounts
payable, 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 May 12, 2017, the Company's Quarterly Report on Form 10-Q for the quarter
ended June 30, 2017, 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.
Contacts:
Precipio Investor Relations:
John Marco Managing Director Core IR 377 Oak Street Garden City, NY 11530 516 222 2560 johnm@coreir.com www.coreir.com
SOURCE: Precipio, Inc.
