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Biodesix Awarded U.S. Federal Supply Schedule Contract for Its Comprehensive Lung Cancer Diagnostic Testing Solutions
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Biodesix announced a Federal Supply Schedule contract with the Veterans Health Administration to provide its lung diagnostic portfolio. This includes tests such as Nodify XL2® and GeneStrat®. The U.S. Department of Veterans Affairs serves over 9 million veterans, and the partnership aims to improve lung cancer care for this population, which has a higher risk of the disease. The company emphasizes its commitment to advancing diagnostic solutions in lung disease, leveraging AI capabilities to enhance patient outcomes.
Positive
Award of Federal Supply Schedule contract with Veterans Health Administration.
Access to a large market serving over 9 million veterans.
Opportunity to integrate lung diagnostic tests into the largest health care system in the U.S.
Potential for improved outcomes in lung cancer care for veterans.
Negative
None.
Expands Coverage to Veterans Health Administration and Military Health System Medical Centers for Its Entire Lung Diagnostic Portfolio
BOULDER, Colo.--(BUSINESS WIRE)--
Biodesix, Inc. (Nasdaq: BDSX), a leading data-driven diagnostic solutions company with a focus in lung disease, today announced the award of a U.S. Federal Supply Schedule contract which includes the Veterans Health Administration providing care for U.S. Veterans and Military Health System providing care for active-duty service members and their families. The contract covers the company’s entire lung diagnostic portfolio: Nodify XL2®, Nodify CDT®, VeriStrat®, GeneStrat® ddPCR, and GeneStrat NGS™ testing. The U.S. Department of Veterans Affairs (“VA”) is the largest integrated health care system in the United States and provides care at 1,298 health care facilities, including 171 VA Medical Centers and 1,113 outpatient sites of care of varying complexity to over 9 million veterans enrolled in the VA health care program.
“Partnering with the VA health system represents a large opportunity for Biodesix to help improve care for Veterans by integrating our five diagnostic tests into our country’s largest health system,” said Scott Hutton, CEO of Biodesix. “An estimated 900,000 Veterans face an elevated risk and a 25% higher likelihood of developing lung cancer compared to the general population. We pride ourselves on being a patient-centric lung disease company, focused on providing healthcare professionals with diagnostic tools capable of transforming the standard of care and improving outcomes. We are pleased to be aligning with the VA in this effort to improve care for our Veterans.”
Lung cancer is the deadliest cancer worldwide and despite the large number of treatments available to improve patient outcomes, it remains an area of unmet needs. Biodesix offers healthcare providers and patients a comprehensive suite of diagnostic tests capable of supporting clinical decision-making across the lung cancer continuum - from initial risk assessment of lung nodules with the Nodify Lung® testing strategy, to post-cancer diagnosis treatment guidance and monitoring with the IQLung™ testing strategy. The Biodesix Nodify Lungtesting strategy consists of two blood-based proteomic tests, the Nodify CDT and Nodify XL2 tests, designed to help healthcare professionals quickly and confidently decipher the risk of malignancy of a lung nodule. The Company’s IQLung Treatment Guidance testing consists of three blood-based tests, the GeneStrat NGS and the GeneStratddPCR genomic tests, and the VeriStrat proteomic test, which together provide a broader view of each patient's disease state and empower healthcare professionals with a testing strategy for any stage of non-small cell lung cancer (NSCLC), delivering timely biological insights to help expedite personalized treatment decisions.
About Biodesix
Biodesix is a leading data-driven diagnostic solutions company with a focus in lung disease. The Company develops diagnostic tests addressing important clinical questions by combining multi-omics through the power of artificial intelligence. Biodesix offers five Medicare-covered tests for patients with lung diseases. The blood based Nodify Lung® nodule risk assessment testing strategy, consisting of the Nodify XL2® and the Nodify CDT® tests, evaluates the risk of malignancy in incidental pulmonary nodules, enabling physicians to better triage patients to the most appropriate course of action. The blood based IQLung™ strategy for lung cancer patients integrates the GeneStrat® ddPCR™ test, the GeneStrat NGS™ test and the VeriStrat® test to support treatment decisions across all stages of lung cancer with results in an unprecedented average of 36-72 hours, expediting time to treatment. Biodesix also leverages the proprietary and advanced Diagnostic Cortex® AI (Artificial Intelligence) platform, to collaborate with many of the world’s leading biotechnology and pharmaceutical companies to solve complex diagnostic challenges in lung disease. For more information about Biodesix, visit biodesix.com.
Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict,” “potential,” “opportunity,” “goals,” or “should,” and similar expressions are intended to identify forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors. Biodesix has based these forward-looking statements largely on its current expectations and projections about future events and trends. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions. Forward-looking statements may include information concerning the impact of the COVID-19 pandemic on Biodesix and its operations, it is possible or assumed future results of operations, including descriptions of its revenues, profitability, outlook, and overall business strategy. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. The Company's ability to continue as a going concern could cause actual results to differ materially from those contemplated in this press release and additionally, other factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Risk Factors section of Biodesix’s most recent annual report on Form 10-K, filed March 14, 2022 or subsequent quarterly reports on Form 10-Q during 2022, if applicable. Biodesix undertakes no obligation to revise or publicly release the results of any revision to such forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.
