Precipio Ships First IV-Cell Order to Major US Healthcare System

Products Division revenues begin to diversify beyond HemeScreen

NEW HAVEN, Conn., March 21, 2023 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO) delivered its first order of IV-Cell, the Company’s proprietary cytogenetics cell culturing media, to a major US healthcare system. The healthcare system (unnamed for competitive reasons) has successfully completed the validation of the media and will begin the gradual incorporation into clinical use.

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. It simplifies the cell culturing process by eliminating the need for special mixtures of multiple components for each sample, and provides cytogenetics laboratories with clinical, operational and economic advantages to speed up output and improve their operating costs. For more information please visit our website at https://www.precipiodx.com/products/iv-cell-cytogenetics-media/.

“Although the Products Division remains focused on HemeScreen, its important to remind our stakeholders in the healthcare community that Precipio is not a single-product company,” said Ilan Danieli, Precipio’s CEO. “Our R&D team continues to improve our existing product lines, as well as explore and develop new concepts.”

Several laboratories (both domestically and internationally) have submitted inquiries about the product; and subsequently, Precipio technical team members have been working with customers to introduce the media, demonstrate its effectiveness, and assist in the onboarding process.

Ilan Danieli, Precipio’s CEO, also commented, “Precipio remains true to its vision as a provider of proprietary, clinically-relevant, workflow-efficient and economically attractive products, tested and developed in its clinical laboratory. I’m pleased to see the future diversity of revenue as we expand our business.”

About Precipio

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, as well as proprietary products that serve laboratories 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 https://www.precipiodx.com/.