Miroculus to Optimize Automated Next Generation Sequencing Library Preparation with Interpace Diagnostics and Twist Bioscience
Interpace Biosciences (OTCQX: IDXG) has partnered with Miroculus and Twist Bioscience to enhance next generation sequencing (NGS) library preparation through the use of digital microfluidics technology. This collaboration aims to automate and optimize genetic testing processes for Endocrine and GI cancers, reducing technician involvement and accelerating testing. Interpace's goal is to establish a high-throughput automated facility to improve productivity and decrease costs, leveraging advanced technologies from its partners.
- Collaboration with Miroculus and Twist Bioscience to enhance NGS capabilities.
- Aim to minimize technician time and accelerate diagnostic testing for cancer.
- Plans to transform laboratory into a high-throughput, automated facility.
- Substantial doubt about the Company's ability to continue as a going concern.
- Company's history of operating losses and need for alternative financing.
PARSIPPANY, NJ, May 11, 2022 (GLOBE NEWSWIRE) -- Interpace Biosciences, Inc. (OTCQX: IDXG) (“Interpace” or the “Company”), a leader in enabling personalized medicine, has announced that in association with Miroculus, Inc., a developer of revolutionary tools for personal lab automation, it will optimize next generation sequencing (NGS) library preparation utilizing its digital microfluidics (DMF) technology. Also working in conjunction with Miroculus and Interpace Biosciences will be Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA.
“We are excited to work alongside Interpace Diagnostics and Twist Bioscience in providing better solutions in cancer diagnostics for patients and patients’ families,” said Alejandro Tocigl, Miroculus CEO. “The Miro Canvas offers a truly ‘walk away’ solution for complex NGS workflows without the need to batch samples together.”
Interpace Diagnostics will utilize Twist Bioscience’s chemistries for library preparation and hybridization capture for the automation of Interpace’s custom NGS panels, and Miroculus’s DMF instrument, the Miro Canvas, to enable low volume, accurate, and precise sample preparation for its genetic tests targeting specific markers in Endocrine and GI cancers. This work will minimize the requirement for hands-on technician time and accelerate implementation of diagnostic testing and assessment for patients living with or who are predisposed to the development of aggressive and difficult to treat forms of these cancers.
“Our goal is to transform our CLIA laboratory into a high throughput, state of the art automated facility, and our adaptation of cutting-edge technology from Twist Bioscience and Miroculus is driving this transformation,” said Alidad Mireskandari, Ph.D., M.B.A. Chief Development Officer of Interpace Biosciences. “We look forward to adopting our partners’ technology into our clinical operations to drive productivity and reduce costs as the value of their technology solutions become more evident in our validation work.”
“It’s an exciting time in diagnostic testing as new insights are unveiled every day that allow patients to be treated earlier in their cycle of disease. We are pleased to enable Interpace’s deployment of clinical services with our flexible sample-to-sequencer NGS reagent workflow that improves the uniformity of their assays, thus reducing the cost of sequencing and the assay overall,” commented Emily M. Leproust, Ph.D., CEO and Co-founder of Twist Bioscience.
About Interpace Biosciences
Interpace Biosciences is an emerging leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications.
Clinical services, through Interpace Diagnostics, provides clinically useful molecular diagnostic tests, bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. Interpace has five commercialized molecular tests and one test in a clinical evaluation program (CEP): PancraGEN® for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; PanDNA, a “molecular only” version of PancraGEN® that provides physicians a snapshot of a limited number of factors; ThyGeNEXT® for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; ThyraMIR® for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay; and RespriDX® that differentiates lung cancer of primary versus metastatic origin. In addition, BarreGEN®, a molecular based assay that helps resolve the risk of progression of Barrett’s Esophagus to esophageal cancer, is currently in a clinical evaluation program (CEP) whereby we gather information from physicians using BarreGEN® to assist us in gathering clinical evidence relative to the safety and performance of the test and also providing data that will potentially support payer reimbursement.
Pharma services, through Interpace Pharma Solutions, provides pharmacogenomics testing, genotyping, biorepository and other customized services to the pharmaceutical and biotech industries. Pharma services also advances personalized medicine by partnering with pharmaceutical, academic, and technology leaders to effectively integrate pharmacogenomics into their drug development and clinical trial programs with the goals of delivering safer, more effective drugs to market more quickly, while also improving patient care.
For more information, please visit Interpace Biosciences’ website at www.interpace.com.
About Twist Bioscience
Twist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.
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About Miroculus, Inc.
Miroculus develops revolutionary tools for personal lab automation. Our technology offers industry-leading assay flexibility and automation capacity in an affordable digital microfluidics platform, enabling seamless workflow integration for both established and novel molecular protocols.
For more information, visit us at www.miroculus.com, @miroculus or LinkedIn.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to the Company's future financial and operating performance. The Company has attempted to identify forward looking statements by terminology including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from those expressed or implied by any forward-looking statements, including, but not limited to, the reimbursement of the Company’s tests being subject to review by CMS, the adverse impact of the COVID-19 pandemic on the Company’s operations and revenues, the substantial doubt about the Company’s ability to continue as a going concern, the possibility that the Company’s estimates of future revenue, cash flows and adjusted EBITDA may prove to be materially inaccurate, the Company’s history of operating losses, the Company’s ability to adequately finance its business and seek alternative sources of financing, the Company’s ability to repay borrowings with Comerica Bank and BroadOak, the Company’s dependence on sales and reimbursements from its clinical services, the Company’s ability to retain or secure reimbursement including its reliance on third parties to process and transmit claims to payers and the adverse impact of any delay, data loss, or other disruption in processing or transmitting such claims, and the Company’s revenue recognition being based in part on estimates for future collections which estimates may prove to be incorrect. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as amended, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Interpace Biosciences Contacts:
Investor Relations
Interpace Biosciences, Inc.
(855) 776-6419
Info@Interpace.com
Miroculus Contacts:
Media:
pr@miroculus.com
www.miroculus.com
@miroculus
Investors:
Alejandro Tocigl, CEO
ir@miroculus.com
Twist Bioscience Contacts:
Angela Bitting
SVP, Corporate Affairs
Twist Bioscience
abitting@twistbioscience.com
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