iSpecimen Launches New Open Feasibilities Dashboard on the iSpecimen Marketplace Platform to Enhance Biospecimen Fulfillment for Global Partner Network

Rhea-AI Summary

iSpecimen (Nasdaq: ISPC) has launched a new Open Feasibilities Dashboard on its iSpecimen Marketplace^®, enhancing transparency for supplier partners in the biospecimen procurement process. This feature allows suppliers to easily review potential research projects and flag high-priority specimens for quicker assessments. The dashboard aims to address existing limitations in the biospecimen sourcing process, ultimately facilitating more efficient collaboration between researchers and healthcare providers. This update supports the company's mission to advance medical research.

Positive

• Launch of Open Feasibilities Dashboard enhances supplier transparency.
• Enables suppliers to quickly access and engage with high-priority specimen requests.
• Improves efficiency in the biospecimen procurement process.

Negative

• None.

New Feature Provides Suppliers with Research Transparency to Optimize Fulfillment Process

LEXINGTON, Mass., Oct. 27, 2022 (GLOBE NEWSWIRE) -- iSpecimen Inc. (Nasdaq: ISPC) (“iSpecimen” or the “Company”), an online global marketplace that connects scientists in need of biospecimens for medical research with a network of healthcare specimen providers, today announced that the Company has launched its new self-service Open Feasibilities Dashboard on iSpecimen Marketplace^®, allowing supplier partners to review potential future research projects at any time and initiate their interest by submitting a proposal. Dedicated to providing its global partner network with increased transparency and iSpecimen Marketplace^® support, iSpecimen continues to expand access to valuable specimens crucial for advancing medical research.

The Open Feasibilities Dashboard enables precision specimen matchmaking to flow seamlessly through the iSpecimen Marketplace^® from providers directly to researchers, enabling partners to engage more productively and beneficially with new and existing research projects and requests. Suppliers can also see which specimen projects have been flagged as being high priority and, therefore, needing immediate feasibility assessment, obtaining additional, ongoing opportunities to participate in revenue-generating projects that are underway.

“iSpecimen’s Open Feasibilities Dashboard is the latest feature in a series of recent iSpecimen Marketplace^® updates focused on addressing the current limitations in the biospecimen procurement process. We continue to remain focused on enhancing the iSpecimen Marketplace^® platform and improving the biospecimen process to advance scientific discovery,” said Tracy Curley, Interim CEO and CFO, iSpecimen. “Through providing additional tools for our global providers, we are able to fulfill diverse specimen requests at a quicker pace and more efficiently for researchers.”

“The iSpecimen Marketplace^® consistently provides us with new and effective opportunities to help advance medical research, and the new Open Feasibilities Dashboard gives us the ability to easily ‘shop’ for new studies on the platform in need of specimens,” added Jesse Lansdell, LVN, Clinical Research Coordinator, CHRISTUS St. Michael Health System, an iSpecimen provider. “Given the many obstacles that researchers face when searching for specimens for their work, iSpecimen continues to innovate its iSpecimen Marketplace^® to help propel lifesaving medical research forward.”

The iSpecimen Marketplace^® is a novel technology platform that connects life sciences researchers who need biospecimens for their research with patients and healthcare organizations that can provide these samples. The Marketplace specifically addresses procurement inefficiencies that have traditionally forced researchers to limit the scope of their work due to the shortage of quality biospecimens. Researchers can search for biospecimens based on demographic traits, medical conditions, procedures, blood type, country of collection and much more.

About iSpecimen
iSpecimen (Nasdaq: ISPC) offers an online marketplace for human biospecimens, connecting 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, 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
iSpecimen@kcsa.com

Media Contacts
KCSA Strategic Communications
Raquel Cona / Shana Marino
iSpecimen@kcsa.com

FAQ

What is the new feature launched by iSpecimen on October 27, 2022?

iSpecimen launched the Open Feasibilities Dashboard, allowing suppliers to review and engage in research projects.

How does the Open Feasibilities Dashboard benefit suppliers?

It provides transparency and allows suppliers to quickly engage with high-priority specimen projects.

What is the significance of the iSpecimen Marketplace?

The Marketplace connects researchers with healthcare providers for efficient biospecimen procurement.

What company ticker symbol is associated with iSpecimen?

The ticker symbol for iSpecimen is ISPC.