NEW HAVEN, Conn., May 06, 2019 (GLOBE NEWSWIRE) -- Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO), announced that it is in the process of completing a trial of its Proprietary IV-Cell media with a significant laboratory (name undisclosed at this time). The purpose of the trial is to demonstrate the capabilities of Precipio's proprietary IV-Cell media within the cytogenetics department alongside the existing media used; and compare results. Upon successful completion of the study, Precipio and the laboratory shall continue their commercial discussions to become the lab's provider of the IV-Cell media for ongoing clinical use within its cytogenetics laboratory.
As part of its commercialization initiative of the IV-Cell media, Precipio's commercial team is contacting key strategic laboratories globally in order to conduct similar trials of the media. The goal is to reach several customers by year end, generating 7-figure revenue from the sale of the media.
Additionally, Precipio is in the final stages of negotiations with a large-scale manufacturer for the media. Upon the signing of the manufacturing agreement, Precipio will announce the name of the manufacturer to the market and commence production and supply of the media to its laboratory customers.
"We are pleased with the positive responses we have received from these large laboratories, who are expressing keen interest in incorporating our IV-Cell media into their cytogenetics operations with a goal of replacing their current media." said Stephen Miller, Precipio's Chief Commercial Officer. "This market is eager to deploy superior results-driven and innovative solutions which drive improved outcome-based clinical, operational and economic value to cytogenetics laboratories.
www.nasdaq.com/press-release/...ent-laboratory-20190506-00631
