Precipio to grow business globally
Precipio, Inc. announces the launch of Precipio’s global pathology services. The services are intended to create a renewed and enhanced revenue stream by monetizing the expertise and network of excellent academic specialized oncology pathologists, which was developed by Precipio.
The rationale for the global expansion is based on the operational models developed in the US, where access to expert, sub-specialized pathologists is critical when attempting to correctly diagnose cancer and develop an appropriate treatment plan. Similarly, in countries around the world there is the same need for access to the expertise provided by Precipio. At the heart of it all, clinicians around the world and their patients are confronted with the same challenges that begin with the need to correctly diagnose cancer.
Services & Market Potential
The services which may be offered will include the following:
1. Expert pathology services: Whether a primary diagnosis or a second medical opinion, clinicians will be able to easily submit biopsies (physically or digitally) for an expert review and diagnosis. This is a service Precipio has been offering internationally on a limited basis for quite some time; whereas now, Precipio aims to enable access to this service on an institutional level with various global partners.
In the countries currently targeted, they have estimated that the patient population represents a total market opportunity for Precipio of more than one billion dollars.
2. Proprietary Technologies: It will also offer certain international partners access to the various proprietary technologies developed by the company, including but not limited to: ICE-COLD PCR, the company’s liquid biopsy technology; IV-Cell, Precipio’s cytogenetics media; and HemeScreen.
The technologies offer advanced testing at a low cost, presenting an appealing offering to various countries with developing economies around the world. It estimates the annual available global revenue potential for each of these technologies may be in excess of $50M.