Physician Office Laboratory (POL) Customers will be able to immediately integrate this important test into their current operations
NEW HAVEN, CT, (May 10th, 2021) - Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO), announced that it has launched a new, four-hour Acute Myeloid Leukemia (AML) HemeScreen panel to specifically determine the genetics of this aggressive, acute form of leukemia. When physicians are armed with the genetic character of the disease, they can rapidly and precisely select the most effective targeted therapeutic.
Beyond the important clinical utility and substantial impact to patient care described below, this panel is expected to increase revenues to Oncology Physician Office Laboratories (POLs) by approximately 10% (subject to patient volume), and is expected to similarly increase Precipio’s revenues from existing and future Oncology POL and other laboratory customers who incorporate this panel into their operations.
The addition of this panel further demonstrates the potential of HemeScreen and the POL model, whereby an existing installed customer base, as well as Precipio, benefit from the continued development and introduction of new panels by Precipio’s R&D team.
The other panels within the HemeScreen suite of products are offered in multi-sample, pre-plated plates, enabling the testing of multiple patient samples simultaneously (improving efficiencies and reducing costs). Recognizing the acute situation surrounding AML patients and the immediate need for an answer, the AML panel was designed as a single-sample plate.
This means that when a patient presents with severe symptoms that cause suspicion of AML, the office can draw a blood sample and immediately proceed to test the patient for AML, with results that can potentially be obtained as rapidly as approximately 4 hours later. There is no other product or technology in the market that can provide this access to rapid results within a POL setting.
Clinical utility and patient care impact
Acute myeloid leukemia (AML) diagnosis is increasingly based on the underlying genetic characteristics. The evaluation of several gene mutations is now becoming standard of care for diagnosis, prognostic stratification, and differentially tailored treatment strategies1. Furthermore, the importance of correctly identifying the disease and quickly treating patients suspected of having AML makes this HemeScreen panel a valuable tool placed directly in the hands of physicians running these panels in their POL.
The following is a brief outline of the genes tested in Precipio’s new AML panel, and their clinical importance:
“With patient care at the center of our vision, our R&D team’s abilities to both identify clinically-important testing needs, and design products that address these needs are the backbone of the clinical and commercial success of HemeScreen”, said Ilan Danieli, Precipio’s Chief Executive Officer. “These panels will enable POLs to rapidly identify patient disease and provide immediate, and subsequently better care to their patients in addition to having a positive financial and operational impact on their business. We are excited to see the rollout of the AML and future panels to the market.”
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, as well as proprietary products that serve laboratories 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 the 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.
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