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Precipio Signs HemeScreen™ Deals with Two Leading Oncology Groups
Partnership with ION Solutions expected to accelerate sales NEW HAVEN, Conn., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio,
About this update from Precipio, Inc.
[{"type":"text","content":"Partnership with ION Solutions expected to accelerate sales\nNEW HAVEN, Conn., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) has signed agreements with two of the largest oncology practices in the US, West Cancer Center of Memphis, TN; and New York Cancer & Blood Specialists of New York. During the coming weeks, both practices will be bringing Precipio’s HemeScreen technology in-house. The implementation of HemeScreen will enable these practices to significantly improve turnaround time for important molecular tests for diseases such as MPN (Myeloproliferative Neoplasms), CLL (Chronic Lymphocytic Leukemia) and AML (Acute Myeloid Leukemia), delivering better care to their cancer patients. Following the recent publication introducing HemeScreen to physician office laboratories (POLs) in ION’s Oncologists Magazine, the partnership with ION has the potential to continue to open doors to hundreds of independent community oncology practices nationwide, with a joint effort of both companies’ sales teams to introduce this patient-centric technology to those groups. The onboarding of these two customers will have a material impact to Precipio, and has the potential to generate seven-figure revenue to Precipio. As Precipio’s R&D team continues to expand its panels and its HemeScreen offering to new diseases, the company’s growing installed customer base will benefit from broadened testing opportunities, increasing revenue to the oncology practice. These ongoing developments will also have the potential of delivering increased market share and revenue to Precipio from expanded reagent sales. “As a patient-centric practice, we are constantly seeking innovative technologies to improve the way we care for our patients”, said Dr. Vacirca, CEO of New York Cancer & Blood Specialists. “HemeScreen will help us identify the patient’s molecular profile faster, so that we can deliver the best, most accurate and rapid care to our patients.” “The trust that these prominent practices have placed in Precipio is a testament to the value, both clinical and financial, of HemeScreen to the market; we are excited to continue and rapidly expand the market penetration of HemeScreen in the POL market”, said Ilan Danieli, Precipio’s CEO. “Consistent with our mission, we are delighted to play a role in continui...