Continued Expansion of Academic Expertise Platform
NEW HAVEN, CT, (October 9th, 2019) - Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO), announced today a further expansion of its cancer patient access to world-class pathology diagnostics with its partnership for the provision of pathology diagnostic services to Precipio's customers and their patients worldwide. Partners physicians are teaching affiliates of Harvard Medical School, and Partners is a national leader in biomedical research.
Partners Online Second Opinions is part of Partners HealthCare, a not-for-profit healthcare delivery network based in Boston, Massachusetts. Founded in 1994 by Brigham and Women's Hospital and Massachusetts General Hospital, Partners HealthCare includes community and specialty hospitals, a health insurance plan, a physician network, community health centers, home care and long-term care services, and other health care entities.
The Partners HealthCare physicians providing consultations are national and international leaders in medicine, research and training. Together, they represent nearly all adult and pediatric specialties.
With the addition of Partners, Precipio continues to grow its unique platform providing its customers with access to the largest academic pathology expertise network worldwide, to continuously improve patient outcomes by achieving the most accurate level of diagnosis.
Precipio's value proposition
Precipio's vision is to harness academic expertise to eradicate the problem of cancer misdiagnosis. While the industry rate of misdiagnosis varies from 5-25% of patients1 2 (depending on the type of cancer), Precipio has reached a level of 99% diagnostic accuracy in the types of cancers we specialize in.3
Oncologists are entirely reliant on pathology to provide them with the right diagnosis. Precipio's customers know they are supported by a backbone of premier academic pathologists that span all necessary subspecialties, providing the expertise they can rely on in order to best help their patients in their battle with cancer.
Academic pathologists maintain their high level of expertise by remaining engaged in non-clinical tasks that are part of the academic mission. These include teaching at the medical school; conducting research and authoring publications; attending and often speaking at various industry conferences. Those engagements are critical to ensuring that faculty are at the cutting edge of the industry and maintain their expertise. Precipio is able to tap into world-class expertise, making that expertise available to its customers.
"Adding the physicians at Partner's Healthcare to our platform and the adoption by an institution of this caliber is further validation of the strength and value of our model," said Ilan Danieli, CEO of Precipio. "With these partnerships we can expand our products and services in innovative models that capitalize on the expertise and clinical value we deliver to our physicians and their patients worldwide".
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, Harvard's Dana-Farber Cancer Institute, and University of Pennsylvania, 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 April 19, 2019 , the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 and on the Annual Report on Form 10-K for the year ended December 31, 2018 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.
3 Based on Precipio internal data