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Adding customer segment exceeding $100M in market potential

NEW HAVEN, CT, Globenewswire – (September 15th, 2022) – Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO), has signed a distribution agreement for HemeScreen with a major distribution partner (name withheld as per partner’s policy). Following an upcoming training program and onboarding of their national coverage, this distribution channel partner’s sales team will begin promoting and driving sales of the HemeScreen platform to hundreds of their current accounts.

Precipio continues to execute its HemeScreen distribution growth strategy of a multi-pronged approach targeting national and regional reference labs, hospital networks and physician-owned laboratories (POLs). The diversity of distributors and channel partners engaging with Precipio maximizes coverage of the full market potential.

The new distributor focuses on a segment of the healthcare business which, by our estimate, represents another $100M of market potential that our current distributors are less likely to reach. With this distributor, we now have >250 sales representatives in the field calling on various groups of qualified potential customers.

“With this and our previous agreements signed, we believe we have excellent coverage and access to all target segments for HemeScreen,” said Ilan Danieli, Precipio’s CEO. “Our team has already begun receiving inquiries, and meetings have been scheduled with potential customers. As a result, we expect substantial customer base growth and revenues as these partnerships materialize. We are excited about the opportunity to partner with market leading distributors to ensure we achieve the revenue growth and market penetration for this outstanding technology.”

About Precipio

Precipio Inc. is a healthcare company focused on cancer diagnostics. The Company’s mission is to address the pervasive problem of cancer misdiagnosis by developing products to mitigate the root causes of this problem in the form of diagnostic products, reagents, and services. Industry studies estimate that 1 in 5 blood-cancer patients are misdiagnosed. As cancer diagnostic testing has evolved from cellular to molecular (genes and exons), laboratory testing has become highly complex, requiring even greater diagnostic precision to effectively gather, analyze and present information for the physician for patient treatment.  Precipio has built a robust specialty cancer diagnostics platform that enables the rapid development of highly differentiated, proprietary clinical diagnostics products which provide superior clinical, operational, and economic benefits to laboratories worldwide. By delivering diagnostic products, reagents, and services that improve the accuracy and efficiency of diagnostics, leading to fewer misdiagnoses, we believe can improve patient outcomes through the selection of appropriate therapeutic options. Furthermore, we believe that better patient outcomes will reduce/lower healthcare costs as misdiagnoses are reduced. For more information, please visit www.www.precipiodx.com.

Please follow us on LinkedIn, on Twitter @PrecipioDx, and on Facebook.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, statements related to the expected or potential impact of the novel coronavirus (COVID-19) pandemic, and the related responses of the government, consumers, and the company, on our business, financial condition and results of operations, and any such forward-looking statements, whether concerning the COVID-19 pandemic or otherwise, involve risks, assumptions, and uncertainties. Except for historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flows, plans, objectives, expectations, growth, or profitability are forward-looking statements based on management’s estimates, beliefs, assumptions, and projections. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic and financial performance, are intended to identify such forward-looking statements. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations, or could affect the company’s ability to achieve its strategic goals, include the uncertainties relating to the impact of COVID-19 on the company’s business, operations, and employees and the other factors that are described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis” in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as updated from time to time in the company’s Securities and Exchange Commission filings.

The company’s forward-looking statements in this press release are based on management’s current views, beliefs, assumptions, and expectations regarding future events and speak only as of the date of this release. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by the federal securities laws.


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