Interpace Diagnostics Launches New Product for Pancreatic Cancer Testing
PARSIPPANY, N.J., Aug. 24, 2016 /PRNewswire/ -- Interpace Diagnostics Group (NASDAQ: IDXG), a company that provides clinically useful molecular diagnostic tests and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for better patient diagnosis and management, reported today that the Company has launched a new version of their AccuCEA™ product called "Insights" for Gastroenterologists who focus on diagnosing and treating pancreatic cancer.
The new AccuCEA Insights service provides physicians for whom the Company has already provided first line testing, with additional information on how those results compare to those of other patients in the Company's proprietary database of over 15,000 patients, thus reporting incremental and valuable information on the patient's potential molecular profile and overall risk for developing pancreatic cancer. When the report is delivered to the ordering physician, they have an opportunity to speak with one of the Company's expert molecular pathologists and discuss the potential benefits of conducting a full, molecular pathology review using PancraGen®, the Company's fully integrated product that considers all the results from first line testing, imaging, cytology, and molecular testing and stratifies the patient in one of 4 risk categories.
Interpace Diagnostics, who has offered their AccuCEA product to customers for over 5 years, will continue to offer AccuCEA in addition to AccuCEA Insights. The primary benefit of the AccuCEA product vs. traditional carcinoembryonic antigen or CEA testing available from other labs is that AccuCEA is the only CEA assay that has been validated on small (200uL) amounts of cyst fluid. Interpace currently performs over 6,000 AccuCEA tests per year for their customers. CEA is a blood fluid chemistry test that is commonly done as part of an initial screening performed on patients suspected of having pancreatic and other types of cancer. This test, along with other common fluid chemistry tests like Amylase, may also be referred to as "first line testing".
"The additional information provided via AccuCEA Insights provides physicians a more expansive view of their patient's status and enables them to make an informed decision regarding the most appropriate next steps," said Interpace President and CEO Jack Stover. "We believe customers who currently order first line testing services only will see the value in not only the incremental information provided via AccuCEA Insights but the full benefits of our fully integrated molecular product, PancraGEN."
PancraGEN® is a pancreatic cyst molecular test that, by using a small sample of pancreatic cyst fluid, can aid in pancreatic cancer risk assessment. PancraGEN® is 90% accurate, according to clinical studies, enabling effective risk stratification of patients. Pancreatic cancer is often difficult to diagnose in early stages and typically spreads rapidly with signs and symptoms appearing when the cancer is significantly advanced. Because of this, and that complete surgical removal of the pancreas is not possible, pancreatic cancer is considered a leading cause of cancer deaths.
About Interpace Diagnostics Group, Inc.
Interpace Diagnostics provides clinically useful molecular diagnostic tests and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for better patient diagnosis and management. The Company currently has three commercialized molecular tests: PancraGen® for the evaluation of pancreatic cysts and assessment of risk of concomitant or subsequent cancer; ThyGenX®, for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; and ThyraMIR®, for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay. Interpace Diagnostics mission is to provide personalized medicine through molecular diagnostics and innovation to advance patient care based on rigorous science.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to our future financial and operating performance. The company has attempted to identify forward looking statements by terminology including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond company's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause company's actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, our ability to adequately finance the business, our ability to restructure our debt and other obligations, the market's acceptance of our molecular diagnostic tests, our ability to secure additional business and generate higher profit margins through sales of our molecular diagnostic tests, in-licensing or other means, projections of future revenues, growth, gross profit and anticipated internal rate of return on investments. Additionally, all forward-looking statements are subject to the risk factors detailed from time to time in the company's periodic filings with the Securities and Exchange Commission (SEC), including without limitation, the Annual Report on Form 10-K filed with the SEC on March 30, 2016, as amended on April 29, 2016 and June 14, 2016. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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SOURCE Interpace Diagnostics Group, Inc.