Company Update (NASDAQ:IDXG): Interpace Diagnostics Group Inc Investors Celebrate as New Partnership Announced
Shareholders in Interpace Diagnostics Group Inc (NASDAQ:IDXG) have a reason to celebrate today after the company announced that it has entered in to an agreement with Best Med Opinion Ltd of Tel Aviv, Israel, a provider of second opinion and clinical services for physicians and patients in Israel and several other countries.
As part of the Agreement, Best Med will provide physicians and patients with information regarding the Company’s ThyGenX®, ThyraMir®, and PancraGen® tests, and when these tests are selected to support and inform treatment decisions, manage the logistics associated with collecting and shipping samples to Interpace’s CLIA laboratories and report results back to the ordering physician. The Agreement designates Best Med as the exclusive provider of Interpace’s products for the country of Israel. No other terms of the Agreement were made available.
Interpace Diagnostics shares reacted to the news, jumping 40% as of this writing.
Eran Lazar, CEO of Best Med Opinion Ltd., said, “We are very enthusiastic about our partnership with Interpace. Their products fill an important role in our efforts to provide physicians and patients with access to the best diagnostic tools available to help inform treatment decisions.”
Jack E. Stover, President and CEO of Interpace, stated, “We are excited about our relationship with Best Med. Their selection of our products and services is an important validation of our potential to expand internationally.”
Interpace Diagnostics Group, Inc. engages in the development and commercialization molecular diagnostic tests principally focused on early detection of high potential progressors to cancer. It offers commercialized molecular tests which include PancraGen, ThyGenX, and ThyraMIR. The company was founded by John P. Dugan in 1987 and is headquartered in Parsippany, NJ.