Interpace Biosciences Announces Improved Coverage for ThyGeNEXT® and ThyraMIR®
03 May 2021 - 10:00PM
Interpace Biosciences, Inc. (“Interpace” or the “Company”) (OTCQX:
IDXG) announced today that eviCore Healthcare (“eviCore”), a wholly
owned subsidiary of Cigna, has updated their laboratory management
guidelines to include positive coverage for ThyGeNEXT® and
ThyraMIR®. This update, which impacts approximately 27 health plans
nationwide covering 100 million lives, is effective on July 1,
2021. This means that after the effective date, claims for
ThyGeNEXT and ThyraMIR which meet eviCore’s criteria for coverage
will be considered medically necessary and processed as a covered
service.
Thomas W. Burnell, President and CEO of
Interpace Biosciences, stated, “We are delighted that eviCore
values the clinical utility of ThyGeNEXT and ThyraMIR, including
how our testing can reduce the need for unnecessary invasive
medical procedures, reduce overall healthcare costs, and improve
patient outcomes. eviCore’s updated medical policy will offer
coverage for ThyGeNEXT and ThyraMIR to millions of
commercially-insured lives from coast to coast.”
About Interpace Biosciences
Interpace Biosciences is an emerging leader in
enabling personalized medicine, offering specialized services along
the therapeutic value chain from early diagnosis and prognostic
planning to targeted therapeutic applications.
Clinical services, through Interpace
Diagnostics, provides clinically useful molecular diagnostic tests,
bioinformatics and pathology services for evaluating risk of cancer
by leveraging the latest technology in personalized medicine for
improved patient diagnosis and management. Interpace has five
commercialized molecular tests and one test in a clinical
evaluation process (CEP): PancraGEN® for the diagnosis and
prognosis of pancreatic cancer from pancreatic cysts; PanDNA, a
“molecular only” version of PancraGEN® that provides physicians a
snapshot of a limited number of factors; 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
versus metastatic origin. In addition, BarreGEN®, a molecular based
assay that helps resolve the risk of progression of Barrett’s
Esophagus to esophageal cancer, is currently in a clinical
evaluation program (CEP) whereby we gather information from
physicians using BarreGEN® to assist us in gathering clinical
evidence relative to the safety and performance of the test and
also providing data that will potentially support payer
reimbursement.
Pharma services, through Interpace Pharma
Solutions, provides pharmacogenomics testing, genotyping,
biorepository and other customized services to the pharmaceutical
and biotech industries. Pharma services also advances personalized
medicine by partnering with pharmaceutical, academic, and
technology leaders to effectively integrate pharmacogenomics into
their drug development and clinical trial programs with the goals
of delivering safer, more effective drugs to market more quickly,
while also improving patient care.
For more information, please visit Interpace Biosciences’
website at www.interpace.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. 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 statements including,
but not limited to, the adverse impact of the COVID-19 pandemic on
the Company’s operations and revenues, the substantial doubt about
the Company’s ability to continue as a going concern, the
possibility that the Company’s estimates of future revenue may
prove to be materially inaccurate, the Company’s history of
operating losses, the Company’s ability to adequately finance its
business, the Company’s ability to repay its $5M secured bridge
loan, the Company’s dependence on sales and reimbursements from its
clinical services, the Company’s ability to retain or secure
reimbursement including its reliance on third parties to process
and transmit claims to payers and the adverse impact of any delay,
data loss, or other disruption in processing or transmitting such
claims, the Company’s revenue recognition being based in part on
estimates for future collections which estimates may prove to be
incorrect, and the Company’s ability to remediate material
weaknesses in internal controls. Additionally, all forward-looking
statements are subject to the “Risk Factors” detailed from time to
time in the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2020 filed with the Securities and Exchange
Commission , Current Reports on Form 8-K and Quarterly Reports on
Form 10-Q. 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.
Contacts: Investor Relations Interpace
Biosciences, Inc. (855)-776-6419Info@Interpace.com
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