Complimentary Precipio ICE COLD PCR™ kits now available to advance body of research and accelerate market expansion
NEW HAVEN, CT, (April 11th, 2018) - Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO), announced today the launch of its program to provide complimentary ICE COLD-PCR (ICP) kits to cancer researchers studying the field of liquid biopsy.
The program will make available a limited number of ICP mutation enrichment kits to cancer researchers who intend to conduct research in liquid biopsies and publish their work in peer reviewed journals.
Interested researchers should contact Precipio directly at BD@precipiodx.com.
There are a number of benefits to this program for researchers and for Precipio.
As a newly commercialized technology, new publications build ICP’s credibility with further validation of the platform’s efficacy and clinical applications. For researchers, this program supports the effort to publish their findings and gain recognition for their research, while offering the technology internally to physicians and their patients.
Precipio plans to partner with select research centers that will first set up ICP as part of a research program, generating compelling studies and publications that will include Precipio’s ICP technology as a centerpiece of the study. Following that, since those cancer centers will already have the technology set up, they can immediately offer the test as a cost effective clinical service to their physicians and their patients, when compared to other liquid biopsy testing options in the market.
ICP costs are typically 50% of that of competing technologies while still achieving limits of detection of 0.1%. Always on the cutting edge, academic and research centers can then provide their patients with cost effective monitoring to track their disease progression and response to therapy, realizing the promise of the liquid biopsy, the field they are researching.
Participating institutions will receive access to the technology for their research programs; Precipio will also contribute its know-how and expertise in the validation and setup process. Ultimately, we expect Precipio to gain publications on ICP, as well as sophisticated, revenue-generating customers that will lead the way to further revenue growth.
The University of Kentucky's Markey Cancer, a National Cancer Institute (NCI)-designated center, recently on-boarded ICP into its research laboratory as part of a colorectal cancer study, as we disclosed; and is also expected to launch the test clinically to patients in the coming months, as a revenue-generating customer for Precipio. These types of structures serve as another attractive business model to gain visibility and traction in the market.
“Our goal for this program is to make ICP technology broadly accessible to research conducted on liquid biopsies, while making liquid biopsy testing available in a clinical setting to the benefit of patients,” said Stephen Miller, Chief Commercial Officer of Precipio. "We are firmly committed to cancer researchers who will be utilizing ICP’s groundbreaking technology to offer cost effective liquid biopsy testing, used to monitor patients for clinically actionable genetic mutations.”
About ICE-COLD PCR™
ICE COLD-PCR is a non-allele specific mutation enrichment technology developed out of Harvard’s Dana Farber Institute and licensed exclusively to Precipio. Highly flexible, it can be used on any downstream DNA sequencing platform, on any sample type (e.g. Blood, FFPE).
The multiplexed technology offers significant advantages over current sequencing technologies. It delivers at least a 500-fold improvement in sensitivity compared to standard methods enabling detection levels as low as 0.1% on plasma (blood) samples. Also, its ultra-high sensitivity allows comprehensive genomic analyses using liquid biopsies at a fraction of the cost of competing assays.
Additionally, the use of the robust High Resolution Melt (HRM) technology as a screening tool after enrichment with ICP enables researchers to quickly and effectively rule out samples that are negative for a genetic mutation in the region of interest. Obtaining that information through a simple and quick up-front step potentially eliminates the need to perform more complex and costly genetic mutation detection (e.g. next generation sequencing, NGS), significantly reducing the cost, and turnaround time to hours instead of weeks.
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.
Certain statements in this press release constitute “forward-looking statements,” within the meaning of federal securities laws, including statements related to ICP 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 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.