Castle Biosciences Announces Expanded U.S. Federal Supply Schedule Contract Covering Its Entire Dermatologic Cancer Portfolio of Tests

Rhea-AI Summary

Castle Biosciences announced an expansion of its U.S. Federal Supply Schedule contract, effective April 15, 2022, to include its entire skin cancer test portfolio. This includes DecisionDx®-SCC, DecisionDx® DiffDx™-Melanoma, myPath® Melanoma, and DecisionDx®-CMSeq, alongside the already covered DecisionDx®-Melanoma. Veterans and families treated at Veterans Health Administration facilities will benefit from increased access to these tests, which aim to enhance skin cancer diagnosis and management.

Positive

• Expanded FSS contract increases access to skin cancer tests for U.S. veterans and military families.
• Inclusion of multiple tests in the FSS contract strengthens Castle's market position in dermatologic cancer diagnostics.

Negative

• None.

Castle was first awarded a U.S. Federal Supply Schedule contract in August 2021 for DecisionDx®-Melanoma

Castle’s expanded U.S. Federal Supply Schedule contract now includes DecisionDx®-SCC, DecisionDx® DiffDx™-Melanoma, myPath® Melanoma and DecisionDx®-CMSeq, in addition to DecisionDx®-Melanoma

FRIENDSWOOD, Texas--(BUSINESS WIRE)-- Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced that its current U.S. Federal Supply Schedule (FSS) contract with the Veterans Health Administration (VHA) has been expanded to include coverage for the Company’s entire skin cancer test portfolio, effective as of April 15, 2022.

“Castle’s innovative tests for skin cancer provide precise, personalized information based on each patient’s tissue biology and are designed to meaningfully impact how skin cancers are diagnosed and managed,” said Derek Maetzold, president and chief executive officer of Castle Biosciences. “We are proud that veterans and their families treated at VHA and Military Health System (MHS) medical centers will now have greater access to our skin cancer tests and the clinically actionable information they provide, which can help guide and improve the management of their disease.”

One in five Americans will be diagnosed with skin cancer during their lifetime, making it the most common form of cancer in the U.S.¹ U.S. military personnel have higher rates of skin cancer than civilians, due in part to occupational sun exposure and other work conditions, compounded by certain demographic characteristics associated with higher rates of melanoma.²

The VHA is a component of and implements the healthcare program for U.S. veterans through the U.S. Department of Veterans Affairs (VA). Castle’s current five-year FSS contract went into effect on Aug. 15, 2021, and included coverage for the Company’s DecisionDx®-Melanoma gene expression profile test. Effective April 15, 2022, the expanded contract includes coverage for the remaining four tests in Castle’s dermatologic cancer test portfolio: DecisionDx®-SCC, DecisionDx® DiffDx™-Melanoma, myPath® Melanoma and DecisionDx®-CMSeq. Castle’s expanded FSS contract provides greater access to the aforementioned tests for veterans being treated through the VHA, the largest integrated health care system in the U.S., as well as active-duty service members and their families seeking medical treatment through the MHS.

More information about Castle’s tests can be found at www.CastleTestInfo.com.

About Veterans Health Administration

The Veterans Health Administration (VHA) is the largest integrated health care system in the United States, providing care at 1,293 health care facilities, including 171 VA Medical Centers and 1,112 outpatient sites of care of varying complexity (VA outpatient clinics) to over 9 million veterans enrolled in the VA health care program. VA Medical Centers provide a wide range of services including traditional hospital-based services such as surgery, critical care, mental health, orthopedics, pharmacy, radiology and physical therapy.

About Military Health System

The Military Health System (MHS) is one of America’s largest and most complex health care institutions, and the world’s preeminent military health care delivery operation. The MHS saves lives on the battlefield, combats infectious disease around the world, and is responsible for providing health services through both direct care through military treatment facilities and private sector care to approximately 9.6 million beneficiaries, composed of uniformed service members, military retirees and family members.

About U.S. Federal Supply Schedule

The U.S. Federal Supply Schedule (FSS), also known as the General Services Administration (GSA) Schedule and the Multiple Award Schedule (MAS), is a long-term governmentwide contract with commercial companies that provide access to millions of commercial products and services at fair and reasonable prices to the government. MAS makes buying easy and efficient with the use of modern technology to connect government buyers and industry.

About Castle Biosciences

Castle Biosciences (Nasdaq: CSTL) is a leading diagnostics company improving health through innovative tests that guide patient care. The Company aims to transform disease management by keeping people first: patients, clinicians, employees and investors.

Castle’s current portfolio consists of tests for skin cancers, uveal melanoma, Barrett’s esophagus and mental health conditions. Additionally, the Company has active research and development programs for tests in other diseases with high clinical need, including its test in development to predict systemic therapy response in patients with moderate-to-severe psoriasis, atopic dermatitis and related conditions. To learn more, please visit www.CastleBiosciences.com and connect with us on LinkedIn, Facebook, Twitter and Instagram.

DecisionDx-Melanoma, DecisionDx-CMSeq, DecisionDx-SCC, myPath Melanoma, DecisionDx DiffDx-Melanoma, DecisionDx-UM, DecisionDx-PRAME, DecisionDx-UMSeq, TissueCypher and IDgenetix are trademarks of Castle Biosciences, Inc.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. These forward-looking statements include, but are not limited to, statements concerning: our contract with the VHA providing expanded access to our skin cancer tests for veterans and their families; the ability of our skin cancer tests to provide clinically actionable information and the ability of such information to guide and improve the management of a patient’s disease; and the incidence of skin cancer diagnoses for Americans. The words “will,” “can” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, without limitation, the effects of the COVID-19 pandemic on our business and our efforts to address its impact on our business, subsequent study results and findings may contradict earlier study results and findings, actual application of our tests may not provide the aforementioned benefits to patients, our expanded FSS contract may not provide the access to those within the VHA and MHS systems as contemplated by this press release, and the risks set forth under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2021, and in our other filings with the SEC. The forward-looking statements are applicable only as of the date on which they are made, and we do not assume any obligation to update any forward-looking statements, except as may be required by law.

¹Skin Cancer Foundation: https://www.skincancer.org/skin-cancer-information/skin-cancer-facts/

²Riemenschneider K, et al. Skin cancer in the military: A systematic review of melanoma and nonmelanoma skin cancer incidence, prevention, and screening among active duty and veteran personnel. Journal of the American Academy of Dermatology. 2017 Dec.; DOI: 10.1016/j.jaad.2017.11.062

View source version on businesswire.com: https://www.businesswire.com/news/home/20220429005034/en/

Investor Contact:

Camilla Zuckero

czuckero@castlebiosciences.com

Media Contact:

Allison Marshall

amarshall@castlebiosciences.com

Source: Castle Biosciences, Inc.

FAQ

What is the significance of Castle Biosciences' expanded FSS contract announced in April 2022?

The expansion allows greater access to Castle's skin cancer tests for veterans and military families, which may enhance patient care.

Which tests are included in Castle Biosciences' expanded FSS contract?

The expanded contract now includes DecisionDx®-SCC, DecisionDx® DiffDx™-Melanoma, myPath® Melanoma, and DecisionDx®-CMSeq, in addition to DecisionDx®-Melanoma.

When did Castle Biosciences expand its FSS contract?

The expansion took effect on April 15, 2022.

Who will benefit from the expanded contract of Castle Biosciences?

Veterans and their families treated at Veterans Health Administration facilities will benefit from the expanded access to skin cancer tests.

Why is skin cancer testing important for veterans?

Veterans have higher rates of skin cancer due to occupational sun exposure and demographic factors, making effective testing crucial for early diagnosis and management.