Monday, March 4, 2024
HomeBreaking NewsPrecipio Signs Distribution Agreement For IV-Cell® and HemeScreen® in Japan

Precipio Signs Distribution Agreement For IV-Cell® and HemeScreen® in Japan

NEW HAVEN, Conn., Jan. 17, 2024 (GLOBE NEWSWIRE) — Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) announces it has entered into an agreement with a Japanese distributor for the sales and distribution of its products into the Japanese market. The distributor has already secured its first purchase order from a leading Japanese clinical laboratory, for Precipio’s proprietary IV-Cell cytogenetics media. The first shipment is expected to be delivered at the end of Q1-2024.

The Japanese diagnostic market is renowned for its high level of quality and for its intense scrutiny of products. Precipio was approached by a Japanese laboratory with an inquiry about its IV-Cell media, and entered into a testing period to evaluate the product.

The laboratory conducted extensive testing of Precipio’s IV-Cell cytogenetics media, including a comprehensive side-by-side analysis comparing it to the current media used in their lab. The study, results of which were shared with Precipio, demonstrated the superior performance of IV-Cell, and ultimately resulted in their decision to adopt the media in their laboratory.

The laboratory then appointed a distributor to handle negotiations with Precipio, resulting in a distribution agreement for its products within the Japanese market. The parties have entered into a multiple year commitment, with the intent of forming a long-term relationship to leverage the distributor’s network within Japan to distribute Precipio’s current, and future products, and bring diagnostic advancements to a broad range of customers in the Japanese market.

“There is no greater demonstration of the quality and clinical utility of our product, than its acceptance by a premier lab in Japan. I’m extremely proud of our R&D team that has successfully created a product that will be used in such a prestigious international market,” said Ilan Danieli, Precipio’s CEO, “Furthermore, our entry into the Japanese market underscores the effectiveness of our overseas sales & marketing strategy. I expect that in 2024 we will also see penetration into other markets globally, complementing our domestic growth in the US market.”

About Precipio

Precipio is a healthcare biotechnology company focused on cancer diagnostics. Our mission is to address the pervasive problem of cancer misdiagnoses by developing solutions in the form of diagnostic products and services. Our products and services deliver higher accuracy, improved laboratory workflow, and ultimately deliver better patient outcomes which reduce healthcare expenses. Precipio develops innovative technologies in our clinical laboratory where we design, test, validate, and run these products intended to improve diagnostic outcomes. Precipio then commercializes its technologies as proprietary products that serve the global laboratory community and further scales Precipio’s reach to eradicate misdiagnosis. For more information, please visit www.precipiodx.com .

Please follow us on LinkedIn , X@PrecipioDx and on Facebook .

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. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the targets set herein and related timing.

Except for historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flows, plans, objectives, expectations, growth or profitability are forward-looking statements based on management’s estimates, beliefs, assumptions and projections. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic and financial performance, are intended to identify such forward-looking statements. These forward-looking statements are only predictions based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and our other reports filed with the U.S. Securities and Exchange Commission. Any such forward-looking statements represent management’s estimates as of the date of this press release only. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Inquiries:investors@precipiodx.com+1-203-787-7888 Ext. 523

Most Popular

Advertisement

Subscribe to our Stock News Alerts

Mobile is not required however if you want the fastest
delivery be sure to add your mobile.

Subscribe to our News Alerts
Loading