FT. MYERS, FL / ACCESSWIRE / May 5, 2020 / NeoGenomics, Inc. (NASDAQ:NEO), a leading provider of cancer-focused genetic testing services, today announced a collaboration with Bayer (BAYN) to facilitate an RNA-based Neurotrophic Tropomyosin-Receptor Kinase (NTRK) testing for certain colorectal and thyroid cancer patients. All eligible patients who enroll and opt-in to a Sponsored Testing Program will receive testing at no cost to themselves or their insurance. Bayer will cover the total cost of this test regardless of the results and treatment decision.
The Sponsored Testing Program is for metastatic colorectal cancer (mCRC) patients with high Microsatellite Instability (MSI-H) status or deficient DNA mismatch repair (MMR-), as well as patients with radioactive iodine refractory differentiated thyroid carcinoma (RAIR DTC). All eligible patients who enroll in the Sponsored Testing Program will receive an RNA-based next-generation sequencing (NGS) test (NTRK NGS Fusion Profile) from NeoGenomics and patients will also receive a NeoGenomics Pan-Tropomyosin receptor kinase (TrK) Immunohistochemistry (IHC) test. For more information onthe Sponsored Testing Program and its no-cost testing, or to download the Test Request Form, healthcare professionals should visit https://www.neogenomics.com/ntrk-sponsored-testing-program.
A higher prevalence of NTRK gene fusions are found among patients with metastatic colorectal cancer (mCRC) with prior high microsatellite instability (MSI-H) status. Studies suggest NTRK gene fusions are greater than 3% among these patients. NTRK rearrangements are also found to occur in 2.4-12% of radioactive iodine refractory differentiated thyroid carcinoma (RAIR DTC) patients with less favorable disease outcomes. Genomic cancer tests that detect an NTRK gene fusion provide actionable information for patients that harbor the genomic alteration and may be appropriate for therapy.
"Our collaboration with Bayer to provide eligible colorectal and thyroid cancer patients with no-cost testing for NTRK gene fusions will help facilitate critical therapy for these patients," said Douglas M. VanOort, NeoGenomics' Chairman and CEO. "As a leading provider of oncology testing for clinical trials and patient care, NeoGenomics is in a unique position to provide access to genomic tests enabling patients to access important therapies without delay. This is one of several initiatives we expect to bring forward in our collaboration with Bayer that offer patients access to innovative testing approaches for approved cancer therapies."
NeoGenomics has a national footprint and broad customer reach in cancer-related genetic testing services and one of the most comprehensive oncology-focused test menus. NeoGenomics is uniquely positioned to increase patient access to important diagnostic testing that can drive treatment decisions for better patient care.
About NeoGenomics, Inc.
NeoGenomics, Inc. specializes in cancer genetics testing and information services. The Company provides one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. The Company's Pharma Services Division serves pharmaceutical clients in clinical trials and drug development.
Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited and CLIA certified laboratories in Ft. Myers and Tampa, Florida; Aliso Viejo, Carlsbad, Fresno and San Diego California; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; and CAP accredited laboratories in Rolle, Switzerland, and Singapore. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, and managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia. For additional information about NeoGenomics, visit http://www.neogenomics.com/.
About Oncology at Bayer
Bayer is committed to delivering science for a better life by advancing a portfolio of innovative treatments. The oncology franchise at Bayer now expands to six marketed products and several other assets in various stages of clinical development. Together, these products reflect the company's approach to research, which prioritizes targets and pathways with the potential to impact the way that cancer is treated.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of 43.5 billion euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3 billion euros. For more information, go to www.bayer.us.
Forward Looking Statements
Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward-looking statements as the result of the Company's ability to continue gaining new customers, offer new types of tests, integrate its acquisitions and otherwise implement its business plan, as well as additional factors discussed under the heading "Risk Factors" and elsewhere in the Company's Annual Report on Form 10-K filed with the SEC on February 28, 2020. As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. In addition, it is the Company's practice to make information about the Company available by posting copies of its Company Overview Presentation from time to time on the Investor Relations section of its website at http://ir.neogenomics.com/.
Forward-looking statements represent the Company's estimates only as of the date such statements are made (unless another date is indicated) and should not be relied upon as representing the Company's estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if its estimates change.
For further information, please contact:
Director, Investor Relations
(239)690-4238 (w) (239)284-4314 (m)
SOURCE: NeoGenomics, Inc.
View source version on accesswire.com:
Released May 5, 2020