iSpecimen Expands Supplier Network of Human Biospecimens to Help Advance Research in Neurological Disorders

Rhea-AI Summary

iSpecimen (Nasdaq: ISPC) announced the expansion of its global biospecimen provider network to support research on neurological disorders, affecting approximately one billion people worldwide. Over the past ten months, it has added over a dozen sample providers, supplying biospecimens such as cerebrospinal fluid and other biofluids. iSpecimen can now provide samples from COVID-19 patients exhibiting neurological symptoms, assisting researchers facing biospecimen shortages. This initiative follows National Epilepsy and Alzheimer’s Awareness Months, aiming to facilitate medical discoveries related to these conditions.

Positive

• Expanded biospecimen provider network increases research capabilities in neurological disorders.
• Access to COVID-19 related neurological samples enhances research relevance.
• Automated marketplace streamlines biospecimen procurement process for researchers.

Negative

• None.

LEXINGTON, Mass., Dec. 2, 2021 /PRNewswire/ -- iSpecimen Inc. (Nasdaq: ISPC) ("iSpecimen" or the "Company"), an online marketplace for human biospecimens, today announced it has recently expanded its global biospecimen provider network in support of research related to neurological disorders, which afflict around one billion people worldwide, or an estimated 1 in 6 people (UN).

In the past 10 months, iSpecimen has added more than a dozen sample providers to its network of suppliers that provide access to banked or custom collections of biospecimens such as cerebrospinal fluid, other biofluids, or cells to help advance CNS research.

COVID-19 Connection
Neurological disorders include amyotrophic lateral sclerosis (or ALS), Alzheimer's disease, Parkinson's disease, and stroke. Also, some COVID-19 patients report neurological symptoms such as muscle aches, headaches, and loss of taste or smell. iSpecimen's capabilities include providing specially collected samples from patients who have been infected with the SARS-CoV-2 virus, which causes COVID-19, and who exhibit neurological symptoms.

These are among a wide range of human tissue, biofluids, and hematopoietic stem and immune cells to which iSpecimen provides access through the iSpecimen Marketplace. Such access is essential since researchers have otherwise been forced to scale back their work due to difficulties procuring sufficient numbers of high-quality specimens.

iSpecimen's announcement of its expanded supplier network comes less than a week after the U.S. wrapped up National Epilepsy Awareness Month and National Alzheimer's Disease Awareness Month. "Neurological disorders are prevalent, varied, and complicated, and we are committed to doing everything we can to support researchers as they work every day to develop treatments, diagnostics, and cures for these conditions," said iSpecimen Founder and CEO, Christopher Ianelli, MD, Ph.D.

Streamlining Biospecimen Procurement
Estimates from the Office of Biorepositories and Biospecimen Research reported in 2011 and iSpecimen's survey of researchers performed in 2019 indicate that 4 in 5 researchers have limited the scope of their work due to the shortage of quality biospecimens. To address this challenge and accelerate scientific discovery, the iSpecimen Marketplace connects life science researchers who need biospecimens with patients and healthcare organizations that can provide them. The iSpecimen Marketplace automates search, selection, contracting, compliance/ethics (institutional review board) audits, quoting, order management, invoicing, and more.

About iSpecimen
iSpecimen offers an online marketplace for human biospecimens, connecting life scientists in commercial and non-profit organizations with healthcare providers that have access to patients and specimens needed for medical discovery. Proprietary, cloud-based technology enables scientists to intuitively search for specimens and patients across a federated partner network of hospitals, labs, biobanks, blood centers, and other healthcare organizations. For more information about iSpecimen, please visit www.ispecimen.com.

Forward-Looking Statements
This press release may contain 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. Such forward-looking statements are characterized by future or conditional verbs such as "may," "will," "expect," "intend," "anticipate," believe," "estimate" and "continue" or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the risk factors contained in the Company's filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. Forward-looking statements speak only as of the date they are made. New risks and uncertainties arise over time, and it is not possible for the Company to predict those events or how they may affect the Company. If a change to the events and circumstances reflected in the Company's forward-looking statements occurs, the Company's business, financial condition and operating results may vary materially from those expressed in the Company's forward-looking statements.

Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, please contact:

Investor Contact
KCSA Strategic Communications
Allison Soss / Scott Eckstein
iSpecimen@kcsa.com

Media Contact
Kaitlynn Cooney
For iSpecimen
kcooney@brodeur.com
617.587.2811

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SOURCE iSpecimen Inc.

FAQ

What is iSpecimen's recent announcement regarding ISPC?

iSpecimen announced the expansion of its global biospecimen provider network to support research on neurological disorders.

How many sample providers has iSpecimen added to its network?

In the past 10 months, iSpecimen has added over a dozen sample providers.

What types of biospecimens does iSpecimen provide?

iSpecimen provides access to cerebrospinal fluid, biofluids, and other specimens for neurological research.

How does iSpecimen support COVID-19 related research?

iSpecimen provides specially collected samples from COVID-19 patients who exhibit neurological symptoms.

What challenges do researchers face that iSpecimen aims to address?

Researchers often face a shortage of quality biospecimens which limits their research scope.