PARSIPPANY, N.J., Feb. 21, 2017 /PRNewswire/ — Interpace Diagnostics Group, Inc. (NASDAQ: IDXG)(“Interpace” or the “Company”), a fully integrated commercial company that provides clinically useful molecular diagnostic tests and pathology services, today announced the initiation of a collaborative research program with Viatar CTC Solutions Inc. (Viatar), the cancer dialysis company.
The collaboration utilizes Viatar’s novel circulating tumor cell collection technology in combination with the Company’s commercialized PancraGEN™ assay that is used to help assess indeterminate pancreatic cancer biopsies in patients with pancreatic cysts. Studies are being designed to identify patients most likely to develop pancreatic cancer in the near future as well as to detect pancreatic cancer at its earliest stage of development.
These pre-clinical studies are expected to take place over the next six months and may lead to the implementation of early diagnostic testing and assessment for patients with pancreatic diseases and/or for those predisposed to the development of this aggressive and difficult to treat form of cancer most in need of early and accurate detection.
According to Jack E. Stover President & CEO of Interpace Diagnostics, “We are pleased to partner with Viatar, a company dedicated to CTC’s and in combination with our PancraGEN assay we are hopeful of providing early detection, prognosis and disease monitoring by way of liquid biopsies for pancreatic cancer at its earliest stage of detection. ”
About Interpace Diagnostics Group
Interpace is a fully integrated commercial 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. 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’s mission is to provide personalized medicine through molecular diagnostics and innovation to advance patient care based on rigorous science. For more information, please visit Interpace Diagnostics’ website at www.interpacediagnostics.com
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 Viatar CTC Solutions
Viatar CTC Solutions Inc., the cancer dialysis company, is a medical technology company focused on the treatment of patients with metastatic cancer. The company’s lead product, the Viatar® Oncopheresis System, removes circulating tumor cells from liters of whole blood based on a patented filtration method using size and stiffness. Pending regulatory approval, it will be used as a periodic dialysis-like therapy for a wide range of solid tumor types such as lung, breast, colon, prostate, pancreatic and gastric cancers. This proprietary technology also powers the company’s liquid biopsy products, which are collection systems for use by genetic testing companies, researchers and medical oncologists that provide a greater quantity and purity of circulating tumor cells for their molecular analysis and personalized medicine objectives. For additional information about Viatar, go to www.viatarctcsolutions.com.
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 the Company’s 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 the Company’s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the 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, the Company’s ability to adequately finance the business, its ability to restructure its debt and other obligations, the market’s acceptance of its molecular diagnostic tests, its ability to secure additional business and generate higher profit margins through sales of its molecular diagnostic tests, in-licensing or other means, projections of future revenues, growth, gross profit and anticipated internal rate of return on investments and our ability to maintain our NASDAQ listing. Additionally, all forward-looking statements are subject to the risk factors detailed from time to time in the Company’s filings with the 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, the Quarterly Report on Form 10-Q filed with the SEC on November 17, 2016, and the prospectus supplement and accompanying prospectus related to the offering that was filed with the SEC. 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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