Precipio signs deal with another major US healthcare company

NEW HAVEN, Conn., Sept. 15, 2022 (GLOBE NEWSWIRE) — A cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO), has signed a distribution agreement for HemeScreen with a major distribution partner (name withheld as per partner policy). Following an upcoming training program and the integration of their national coverage, the sales team of this channel partner will begin promoting and driving sales of the HemeScreen platform to hundreds of their current accounts.

Precipio continues to execute its HemeScreen distribution growth strategy of a multi-pronged approach targeting national and regional reference laboratories, hospital networks and physician-owned laboratories (POLs). The diversity of distributors and distribution partners who engage with Precipio maximizes coverage of all market potential.

The new distributor focuses on a segment of the healthcare industry that we estimate represents another $100 million in market potential that our current distributors are less likely to reach. With this distributor, we now have over 250 field sales representatives reaching out to various groups of qualified potential customers.

“With this agreement and our previous signed agreements, we believe we have excellent coverage and access to all target segments for HemeScreen,” said Ilan Danieli, CEO of Precipio. “Our team has already started receiving inquiries and meetings have been scheduled with potential clients. As a result, we expect substantial customer and revenue growth as these partnerships come to fruition. We are excited about the opportunity to partner with market leading distributors to ensure we achieve revenue growth and market penetration for this exceptional technology.

About Precipio

Precipio Inc. is a healthcare company focused on cancer diagnostics. The company’s mission is to solve the pervasive problem of misdiagnosis of cancer by developing products to alleviate the root causes of this problem in the form of diagnostic products, reagents and services. Industry studies estimate that one in five patients with blood cancer is misdiagnosed. As cancer diagnostic tests have evolved from cellular to molecular (genes and exons), laboratory tests have become very complex, requiring even greater diagnostic accuracy to effectively collect, analyze and present information to the physician for treatment. patients. Precipio has built a robust specialty cancer diagnostics platform that enables the rapid development of highly differentiated, proprietary clinical diagnostic products that deliver superior clinical, operational and economic benefits to laboratories worldwide. By providing diagnostic products, reagents and services that improve diagnostic accuracy and efficiency, resulting in fewer misdiagnoses, we believe we can improve patient outcomes through the selection of appropriate therapeutic options. Additionally, we believe that better patient outcomes will reduce/lower healthcare costs as misdiagnoses are reduced. For more information, please visit www.precipiodx.com.

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Forward-looking statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among other things, statements regarding expectations or the potential impact of the novel coronavirus (COVID-19) pandemic, and related government, consumer and business responses, on our business, financial condition and results of operations , and any such forward-looking statements, whether relating to the COVID-19 pandemic or otherwise, involve risks, assumptions and uncertainties. Excluding historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flow , plans, goals, expectations, growth or profitability are forward-looking statements based on management’s estimates, beliefs, assumptions and projections. Words such as “could”, “may”, “expect”, “anticipate”, “will”, “target”, “goals”, “project”, “intend”, “plan” , “believes”, “seeks”, “estimates”, “forecasts” and variations of these words, and similar expressions which reflect our current opinions with regard to future events and operational, economic and financial performance, are intended to identify these forward-looking statements. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations, or that could affect the company’s ability to achieve its strategic objectives, include uncertainties related to the impact of COVID- 19 on the business, operations and employees of the company and the other factors which are described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis” in the company’s annual report on Form 10- K for the year ended December 31, 2021, as updated from time to time in the Securities and Exchange Commission Filings.

The company’s forward-looking statements in this press release are based on management’s current opinions, beliefs, assumptions and expectations regarding future events and speak only as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws.


        

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