NEW HAVEN, Conn., Feb. 15, 2018 (GLOBE NEWSWIRE) -- Precipio, Inc. (NASDAQ:PRPO) announced today its launch of the
first lung cancer treatment resistance panel specifically for the critical mutations T790M and C797S in the EGFR gene. The test
will use Precipio’s patented ICE-COLD PCR™ liquid biopsy enrichment technology to enable better cancer outcomes by identifying
treatment resistance mutations in non-small cell lung cancer (NSCLC).
Precipio’s TKI chemotherapy resistance test is designed to detect these critical lung cancer mutations at a fraction of the cost
of competitor’s existing, broader panels. This focused, cost effective test allows for more frequent testing, and a quicker
identification of a patient’s resistance to various therapies.
Better cancer treatment outcomes are the intended result from the increased monitoring frequency, enabled by these low cost test
with results delivered as quick as 24 hours.
Precipio’s lung cancer test is the first of its kind on the market, detecting mutations with a sensitivity of 99.9%, which
equates to a single cancer cell within 1,000 normal cells.
Clinical Value
The primary application for this test is to enable physicians to monitor lung cancer patients who are currently on a type of
chemotherapy termed TKI (Tyrosine-kinase inhibitor).
Lung cancer patients identified to have a mutation in the EGFR gene are treated with a TKI therapy. During the course of
treatment, some patients will develop resistance to that treatment, thus rendering it ineffective.
Therefore, there is a need for a test that can be used to monitor the patient on an ongoing basis to identify
the existence of these mutations as early as possible. The presence of either the T790M or C797S mutations may indicate the patient
has developed a resistance, information necessary to determine whether to continue TKI or switch to a different therapy.
Competitive Advantage
Currently, there are several laboratories offering tests with the same genes and mutations, but they are included within an
expansive and expensive broad panel.
As an initial diagnostic panel run upon disease onset, these large panels may be suitable for broad characterization of the
tumor’s biology. However, there are two major drawbacks to these panels.
First, almost all patients will eventually develop resistance to TKI therapies. Over 50% of these patients will develop the
T790M resistance mutation and 33% will develop the C797S resistance mutation as a result of the treatment.
Therefore, testing up front will likely not identify those mutations, as they will develop during treatment.
Second, at a price point of $4,000-$6,000 per test, they are too expensive to be considered for patient monitoring which may
require repetitive testing for T790M and C797S.
Billed at below $500 for both mutations, Precipio’s test is the only economical option for repetitive patient monitoring using a
simple blood draw, which is critical to identify the mutation as early as possible.
Precipio’s test provides physicians the ability to monitor their patients using the most cost effective resistance mutation
panel on the market, tested on a simple blood (liquid biopsy) sample. An assay using ICP yields results quickly, and creates
unprecedented opportunities for clinicians to obtain a deeper understanding of changes to the biology of a patient’s tumor, in
real-time.
Market Potential
Approximately 220,000 new lung cancer patients are diagnosed each year in the US, in addition to the estimated 550,000 existing
lung cancer patients. Applying the percentage of patients on TKI therapies that would require monitoring to identify resistance,
and a frequency of 4 tests per year, this equates to a domestic market potential of $1.5B annually.
Business Model
Some hospitals and laboratories may not have sufficient volume to justify an in-house setup initially. For those customers, our
CLIA lab will run the test as a centralized laboratory, allowing the hospital to initially assess, and then grow the volume from
its physicians, to reach an economically justified threshold to internalize the test.
While Precipio’s primary focus is the sale of ICP kits to laboratories, establishing the test in our CLIA facility assists our
customers in internalizing ICP. Many hospitals considering bringing the test in house, initially examine the volume requirements
within their network to assess the capacity and economics of running the test in their laboratory.
Therefore, the option for the hospital to initially send their tests to Precipio while they on-board the test, is an attractive
no-risk option we offer to our customers while they internalize the test. This also creates an attractive additional revenue stream
for Precipio, as well as the ability to collect clinical data for further research and development.
“Our ultimate goal is for every laboratory with a focus on molecular diagnostics to run these tests in-house, changing the
economic model and enabling the lab to make money with liquid biopsy testing,” said Ilan Danieli, President and Chief Executive
Officer of Precipio. “Over the next few months, our team will continue to launch additional liquid biopsy assays in our CLIA lab.
This will allow physicians to order directly from Precipio or allow Precipio to handle orders from hospitals until they decide to
bring the ICE COLD-PCR technology into their own laboratory, ” Mr. Danieli continued.
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.
Inquiries
investors@precipiodx.com
+1-203-787-7888
