Multi-Country Agreement Widens Distribution in Key Asian Markets for ICE COLD-PCR Liquid Biopsy Technology that Enables Precision Medicine
Provides Clearbridge Health's Network of Physicians and Patients with Access to Precipio's Platform for Optimizing Personalized Diagnosis and Treatment
NEW HAVEN, CT / ACCESSWIRE / July 5, 2017 / Precipio Inc. (PRPO) today announced a multi-country agreement with Clearbridge Health, Pte. (CBH), to provide its ICE COLD-PCR (ICP) technology in CBH's network of laboratories, serving patients in more than a dozen countries throughout Asia, including China, India, Taiwan, South Korea, Singapore, Malaysia, Indonesia, and Australia. Those laboratories will incorporate the Company's ICP technology into their operations over the coming months, and are expected to begin offering liquid biopsy diagnostic services to local physicians soon thereafter. CBH will provide Precipio's diagnostic services, as well as access to its world-class academic experts, to physicians and patients throughout the Clearbridge Health network. The agreement is expected to significantly increase Precipio's footprint in the Asian market.
Clearbridge Health, Pte. is a Singapore-based medical group that aims to redefine healthcare in Asia by better enabling patient care through the deployment of precision and data-driven medical technologies. Its mission is to improve primary patient care by deploying advanced, best-in-class medical tests, making them available to clinicians throughout the region. A key focus of the agreement is the deployment of Precipio's liquid biopsy diagnostic assays and panels for customized screening, profiling, and diagnoses.
"We are excited to partner with Clearbridge to deliver our technology and services to the Asian market an excellent example of how we are already beginning to realize the synergies of combining Precipio's diagnostic platform with Transgenomic's enabling liquid biopsy technology. Clearbridge's network operates in one of the most dynamic regions in the world, encompassing countries that include more than one-third of the world's population," said Ilan Danieli, CEO of Precipio. "ICP's economic advantages compared to other alternatives make it a very attractive offering in the price-sensitive Asian market. Coupled with its growing demand for specialized expertise and access to world-class diagnostics, we believe the Asian market represents a major opportunity for our company."
Jeremy Yee, CEO and Executive Director of Clearbridge Health, Pte., said, "Precipio's platform of advanced technologies and specialized expertise and diagnostics will be well received by our network of physicians and patients, who are eager to gain access to these important tools. We are looking forward to working with the team at Precipio to bring the highest level of care to patients within our network."
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. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. For more information, please visit www.precipiodx.com.
About Clearbridge Health
Clearbridge Health (CBH) combines med-tech and healthcare innovations with powerful service delivery channels. To meet healthcare sector challenges in an Asian context, CBH brings together medical talent, technology, and long-horizon investment approaches into an optimum business model. It was created with the flexibility of talents and capital market resources to rebalance its portfolio through both organic growth-strategic acquisitions and investments-divestments. As a new pan-Asian conglomerate, CBH strives to increase the depth and breadth of technology-based healthcare solutions, deployment methods and industry expertise in Asia. For more information, visit clearbridgehealth.com.
Certain statements in this press release constitute "forward-looking statements," within the meaning of federal securities laws, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, to the impact of the CBH arrangement on the Company's business and the market opportunity in Asia. The known risks, uncertainties and other factors affecting these forward-looking statements are described in Transgenomic's definitive proxy statement filed on May 12, 2017, Transgenomic's prior filings and from time to time in Precipio's subsequent filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events, and performance to differ materially from those referred to in such statements. All information in this press release is as of the date of the release and Precipio does not undertake any duty to update this information, including any forward-looking statements, unless required by law.