NEW HAVEN, Conn., April 09, 2019 (GLOBE NEWSWIRE) -- Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO) announced today that it is negotiating a definitive agreement with a manufacturer
to produce its IV-Cell media.
Over the past year, Precipio has been working to commercialize its patented IV-Cell media by offering the Research-Use Only
(RUO) based media to large laboratory customers who offer cancer cytogenetics testing. As part of Precipio’s continuous effort to
expand and improve the economics of our business, it became apparent that the best alternative for Precipio would be to identify a
manufacturing partner to produce the media for those customers. As a clinical laboratory and developer of these innovative
products, Precipio prefers to outsource manufacturing to a company experienced in large-scale regulated manufacturing.
The manufacturing partner identified has the necessary experience and expertise, as well as scalable, large volume manufacturing
capabilities. In addition, they have the embedded quality-control processes, and the various ISO-related certifications required to
mass-produce the media for global distribution.
“This is an exciting time for us, as we move towards the start of commercializing the technologies we’ve developed,” said Ilan
Danieli, Chief Executive Officer of Precipio. “The company and its shareholders deserve to reap the benefits of the innovative
products developed, as we translate ideas in the laboratory into products - and revenue, for the company.”
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 such as the Yale School of Medicine and Harvard’s Dana-Farber Cancer Institute, 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 IV-Cell technology, including financial projections related thereto and potential market
opportunity, 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 29, 2018, the Company’s Quarterly Report on Form 10-Q for the
quarter ended November 19, 2018 and on the Annual Report on Form 10-K for the year ended December 31, 2017 as well as 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
