Interpace Diagnostics Ranked as Top 10 Bioinformatics Solutions Provider
PARSIPPANY, NJ, Dec. 27, 2018 (GLOBE NEWSWIRE) -- Interpace Diagnostics Group, Inc. (NASDAQ: IDXG) announced today that CIO Applications, a publication focused on providing professionals with information on the most comprehensive collection of technology trends, has once again recognized Interpace Diagnostics as a top bioinformatics solutions company. This year CIO Applications ranked Interpace as a Top 10 Company for providing bioinformatics solutions through the Company’s extensive database of molecular testing results. In 2017, Interpace was recognized as a Top 20 Bioinformatics Solutions Provider. CIO Applications utilizes its distinguished selection panel, comprised of CEOs, CIOs, CTOs, industry analysts and its own editorial board to narrow the final list of 10 bioinformatics solutions providers which this year includes Interpace and selected prominent companies such as Biomax Informatics, Codexis and Oxford Gene Technology. These companies are all known to exhibit competence in delivering best-in-class bioinformatics capabilities according to the selection panel.
Bioinformatics is becoming more and more critical in the drug discovery market as bioinformatics solution providers transform the development, testing, and application of the modeling and analysis of biological data derived from the molecular profiling of specific patient populations. Interpace currently has a biobank containing nearly 50,000 patient samples and the associated bioinformatics database including clinical and molecular analysis and results. The biobank includes data elements across a wide array of cancer types including pancreatic, thyroid, esophageal, and lung. In anticipation of the growing bioinformatics market, Interpace continues to explore opportunities to access and leverage these data sets to assist in developing novel therapeutics.
Jack Stover, President and CEO of Interpace, stated, “We were pleased to be recognized again by CIO Applications as a top bioinformatics solutions provider and especially now as a top 10 provider recognizing the value of our core biomarker and DNA analysis as well as our biobank and associated databases.”
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About Interpace Diagnostics Group, Inc.
Interpace is a fully integrated commercial and bioinformatics company that provides clinically useful molecular and related first line diagnostic tests and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. The Company currently has four commercialized molecular tests and one test in a clinical evaluation process (CEP); PancraGEN® for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; ThyGeNEXT® for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; ThyraMIR® for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay; and RespriDx™, that differentiates lung cancer of primary vs. metastatic origin. The Company’s data base includes data from over 45,000 patients who have been tested using the Company’s current products, including over 15,000 molecular tests for thyroid nodules. Interpace has been designated by CIO Applications magazine as one of the top 10 companies for providing bioinformatics solutions. Interpace’s mission is to provide personalized medicine through molecular diagnostics, innovation and data to advance patient care based on rigorous science. For more information, please visit Interpace’s website at www.interpacediagnostics.com
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 the Company's future financial and operating performance, 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 history of losses, the Company's ability to adequately finance the business, the market's acceptance of its molecular diagnostic tests, its ability to retain or secure reimbursement, 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, its ability to maintain its NASDAQ listing and the Company’s ability to successfully commercialize BarreGENÒI including collecting clinical data and obtaining reimbursement. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company's SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed on March 23, 2018, Quarterly Reports on Form 10-Q and other SEC filings. 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.
Joseph Green / Wiktoria O’Hare
646-653-7030 / 7028
Released December 27, 2018