Precipio Signs First IV-Cell Customer Agreement
Laboratory operating both HemeScreen® & IV-Cell® demonstrates significant cross-sell potential
NEW HAVEN, Conn., May 10, 2022 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO), announced today that American Oncology Network (AON) of Fort Myers, Florida, has completed its validation of Precipio’s proprietary IV-Cell® culture media, and will adopt the product for use in its clinical cytogenetics laboratory.
The adoption of IV-Cell by industry leader AON demonstrates Precipio’s ability to identify a critical unmet market need, develop and bring to market a differentiated, high value solution to the customer. Previous launch of HemeScreen® testing by AON in August 2021, combined with this agreement for IV-Cell serve as validation of Precipio’s new strategic business model as a specialty cancer diagnostics products company, and its ability to deliver multiple products to the same customer.
Jacob Diaz, AON’s Laboratory Operations Manager said, “IV-Cell will provide significant technical and operational efficiencies within our laboratory as well as help AON provide a more accurate diagnosis to patients.”
“We are dedicated to building our relationship with AON as we continue to innovate and commercialize our portfolio of high value, differentiated, diagnostic products like HemeScreen. AON’s adoption of this technology solidifies their innovative and leadership position within the market,” said Ilan Danieli, CEO of Precipio. “We are excited for the gradual reopening of laboratories, which enables us to meet with customers in-person and demonstrate the clinical and operational benefits of IV-Cell media within their laboratory, leading to further market penetration both domestically and internationally.”
About IV-Cell® Media
Precipio’s IV-Cell® culturing media is a critical reagent intended to be used by cytogenetics laboratories to simplify, speed up and provide greater accuracy of their hematologic (blood cancer) diagnostic processes. IV-Cell includes all the necessary components for the cell culturing process. It simplifies the process by eliminating the need to cocktail a media mix for each sample, and provides cytogenetics laboratories with both clinical, operational and economic advantages relative to the existing products on the market. For more information please visit our website at http://www.precipiodx.com/ivcell.html.
About American Oncology Network
American Oncology Network, LLC (AON) is an alliance of physicians and seasoned healthcare leaders partnering to ensure the long-term success of community oncology. Launched in 2018, the rapidly expanding AON network currently represents 107 physicians and 85 nurse practitioners and physician assistants practicing across 16 states. The executive management team of AON encompasses more than three decades of oncology practice management experience, enabling physicians to focus on what matters most – providing the highest quality care for patients.
The organization provides unique and comprehensive protocols for managing administrative procedures and enhancing ancillary services for its affiliates. AON is able to aggregate volume and attain economies of scale, as it guides its member physicians and practices through the transition to value-based reimbursement models that improve the patient experience and help to reduce the per capita cost of cancer care.
AON also provides a unique model of physician led, community-based oncology management. With services such as a centralized specialty pharmacy, diagnostics, pathology, fully integrated electronic medical records, a care management team and a variety of financial assistance programs, an alliance with AON ensures that patients’ experiences will be at the very pinnacle of cancer care today. For more information, please visit AONcology.com.
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. Precipio leverages its relationships with world-class academic institutions, coupled with its in-house clinical laboratory which enables its internal product development and testing engine to create and offer proprietary tests and reagents that enhance diagnostic accuracy, and improve patient care. For more information, please visit www.precipiodx.com.
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