New technology enables same day test results by eliminating extra confirmation step
NEW HAVEN, Conn., Aug. 16, 2022 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc.(NASDAQ: PRPO), announces the launch of its second generation of HemeScreen panels. Precipio’s customers using HemeScreen in their laboratory will have the option of upgrading to the 1-step assay, or remaining with the current assay.
While the first generation of panels required a 2-step process that included a positive-confirmation step, the new version no longer requires this step. This means that both positive and negative results can be reached at the completion of the assay run within approximately 3 hours.
The simplification of the process not only shortens turnaround time (TAT) of delivering results to the clinician; it also reduces by approximately 25% the bench work required by the lab tech to complete the assay, thus saving the laboratory time and expense. Preliminary discussions with most of our customers indicate they will upgrade to the new version of the product.
The new version of the assay has been tested extensively and validated at Precipio’s R&D facility. Over the past several months Precipio’s CLIA/CAP certified laboratory has been using it clinically, and has accumulated sufficient data demonstrating its clinical and operational utility. Now, the Products Division will be releasing this updated version to its HemeScreen customers.
“The constant improvement of its technologies is the true sign of an innovative company that is determined to become a market leader”, said Keith Meadors, Senior Vice President of Precipio’s Products Division. “Our model of utilizing our clinical laboratory to develop new technologies, test them in our clinical laboratory, and then launch them as a product for other labs to benefit from is proving to be very attractive to our customers. I’m excited to continue to work with our R&D to provide products that enable our customers to deliver the best care to cancer patients.”
About Precipio
Precipio Inc. is a healthcare company focused on cancer diagnostics. The Company’s mission is to address the pervasive problem of cancer misdiagnosis by developing products to mitigate the root causes of this problem in the form of diagnostic products, reagents, and services. Industry studies estimate 1 in 5 blood-cancer patients are misdiagnosed. As cancer diagnostic testing has evolved from cellular to molecular (genes and exons), laboratory testing has become extremely complex, requiring even greater diagnostic precision to effectively gather, analyze and present information for the physician for patient treatment. Precipio has built a robust specialty cancer diagnostics platform that enables the rapid development of highly differentiated, proprietary clinical diagnostics products which provide superior clinical, operational, and economic benefits to laboratories worldwide. By delivering diagnostic products, reagents and services that improve the accuracy and efficiency of diagnostics, leading to fewer misdiagnoses, we believe patient outcomes can be improved through the selection of appropriate therapeutic options. Furthermore, we believe that better patient outcomes will reduce/lower healthcare costs as misdiagnoses are reduced.
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