Precipio ICE COLD-PCR™ reagents will be sold with PerkinElmer DNA/RNA extraction and isolation products
NEW HAVEN, CT, (November 1st, 2018) - Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO), today announced an agreement with PerkinElmer to jointly offer Precipio’s ICE COLD-PCR (ICP) mutation enrichment technology together with PerkinElmer’s NextPrep-Mag™ cell-free DNA isolation kit, Janus® G3 liquid handling workstation, and chemagic™ MSM I, chemagic™ 360, and chemagic™ Prime™ platforms.
The agreement involves collaborative commercial efforts that include joint development and implementation of promotional material, instructions for use, product-supported development of scientific white papers and posters, reciprocal sales & customer training and exhibits at trade shows and scientific conferences.
Precipio and PerkinElmer together can provide a simple, reliable, automated cell-free DNA analysis workflow alongside a cutting-edge mutation enrichment technology in ICE COLD-PCR that will enable laboratories to efficiently use these technologies to support liquid biopsy testing.
Precipio and PerkinElmer will demonstrate the workflow advantages of the NextPrep-Mag™ cfDNA isolation kit coupled with ICE COLD-PCR and PerkinElmer’s automation suite at the Association for Molecular Pathology conference, November 1-3, 2018, in San Antonio. AMP is attended by over 2,000 molecular diagnostic professionals and decision makers from across the globe. In addition, Precipio and PerkinElmer will be conducting their first joint webinar on ICE COLD-PCR for customers and prospects on November 20, 2018.
“We expect the combination of these products to provide unique value in an optimized sample-to-answer workflow for laboratories and clinical researchers that offer liquid biopsy assays,” stated Arvind Kothandaraman, Director of PerkinElmer’s Applied Genomics product line. “Our NextPrep-Mag cfDNA kits enable fast and efficient cell-free DNA extraction manually or automated on chemagic™ nucleic acid isolation instruments. This complements Precipio’s ICE COLD-PCR mutation enrichment well, enabling users to accelerate liquid biopsy testing and research.”
“With PerkinElmer’s global reach, we expect the success of ICP’s global market introduction to be significantly enhanced through this collaboration,” commented Stephen Miller, Precipio’s Chief Commercial Officer. “Such strategic partnerships represent critical milestones in our plan for widespread adoption of our ICP-based testing products.”
About ICE-COLD PCR™
ICE COLD-PCR is a non-allele specific mutation enrichment technology developed at the 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 29, 2018, the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 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.