HTG Announces First Collaborator in Early Access Program for its Prototype Whole Transcriptome Panel
HTG Molecular Diagnostics (Nasdaq: HTGM) has initiated its Early Access Program for a prototype whole transcriptome panel, allowing select customers to access the technology before its commercial launch. The panel aims to analyze approximately 20,000 mRNA targets, boasting advantages such as small sample size processing without RNA isolation. The company has secured its first collaborator, a top US Cancer Center, indicating strong market interest. HTG expects to enroll additional collaborators from the US and Europe by year-end 2020, advancing towards a commercial launch in mid-2021.
- First collaborator secured from a top US Cancer Center, indicating strong market demand.
- Panel enables analysis of 20,000 mRNA targets without requiring RNA isolation.
- Anticipation of additional key collaborations from US and Europe before 2020 ends.
- Actual commercial success of the whole transcriptome panel is uncertain.
- Potential inability to attract new collaborators within expected timeframes.
- Risks associated with the launch and adoption of the product in the market.
TUCSON, Ariz., Dec. 18, 2020 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, today announced that it has signed up the first collaborator in its recently announced Early Access Program for its prototype whole transcriptome panel. The Early Access Program is intended to allow select customers access to the panel in their laboratories or through services to be performed in our development laboratory prior to commercial launch of this product.
Our whole transcriptome panel is expected to enable analysis of the entire known human transcriptome (approximately 20,000 mRNA targets) while retaining the proven advantages of HTG’s smaller targeted panels, including the ability to run small sample sizes without requiring RNA isolation and purification and the ability to successfully process lower-quality samples.
“Since announcing the Early Access Program on December 8, response from top academic institutions and leading pharmaceutical companies around the world has exceeded our expectations,” said Byron Lawson, Chief Commercial Officer. “Having a perennial top two US Cancer Center become our first collaborator in the Early Access Program is an indicator of the market demand for a whole transcriptome panel leveraging the HTG EdgeSeq technology. We expect to sign up additional key collaborators from the US and Europe before the close of 2020, and several more in early 2021. These collaborations are expected to provide us with valuable insight into the capabilities of this panel and help guide our next development steps as we progress towards commercial launch in mid-2021.”
About HTG:
HTG is focused on NGS-based molecular profiling. The company’s proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples, even when limited in amount. HTG’s customers use its technology to identify biomarkers important for precision medicine, to understand the clinical relevance of these discoveries, and ultimately to identify treatment options. Our mission is to empower precision medicine at the local level.
Safe Harbor Statement:
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding: the Early Access Program allowing select customers access to our whole transcriptome panel in their laboratories or through services to be performed in our laboratory prior to commercial launch of the panel; the panel being expected to allow for analysis of the entire known human transcriptome while retaining the advantages of HTG’s smaller targeted panels; the first collaborator being an indicator of market demand for a whole transcriptome panel leveraging the HTG EdgeSeq technology; our expectation of signing up additional key collaborators from the US and Europe before the close of the year, and several more in early 2021; the expectation that our collaborations will provide us with valuable insight into the capabilities of our whole transcriptome panel and help guide our next development steps; and the expected timing of our commercial launch of our whole transcriptome panel. Words such as “expects,” “intends,” “indicator” “progress towards” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management’s current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, the risk that our HTG EdgeSeq whole transcriptome panel may not provide the benefits we expect; the risk that we will not be able to sign up new collaborators within our estimated timeframes, if at all; risks associated with our ability to successfully launch and commercialize our whole transcriptome product and our other products and services; the risk that our products and services may not be adopted by collaborators in academia or pharmaceutical companies as anticipated, or at all; our ability to manufacture our products to meet demand; the level and availability of third party payor reimbursement for our products; our ability to effectively manage our anticipated growth; our ability to protect our intellectual property rights and proprietary technologies; our ability to operate our business without infringing the intellectual property rights and proprietary technology of third parties; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; and product liability claims. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission, including without limitation our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contact:
Ashley R. Robinson
Phone: (617) 430-7577
Email: arr@lifesciadvisors.com
FAQ
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