NeoGenomics Receives CAP Certification in their Suzhou China Pharma Services Laboratory

Rhea-AI Summary

NeoGenomics, Inc. has achieved CAP certification for its Suzhou laboratories with zero deficiencies, enhancing its capabilities in oncology drug development for clients in China. This certification will benefit global pharmaceutical partners by facilitating clinical trials from early discovery research to drug development. The company has established partnerships with local CROs and offers a variety of testing services including next-generation sequencing. The strategic move aims to strengthen NeoGenomics' position in the growing biopharma sector.

Positive

• Achieved CAP certification with zero deficiencies for Suzhou laboratory, enhancing credibility.
• Strengthened global pharmaceutical partnerships allowing extensive oncology testing capabilities.
• Established collaborations with local CROs to optimize clinical trial processes in China.

Negative

• None.

CAP Certification Expands Global Strategic Capabilities Supporting Biopharma R&D

FORT MYERS, FL / ACCESSWIRE / June 3, 2022 / NeoGenomics, Inc. (Nasdaq:NEO), a leading provider of oncology testing and global contract research services, has successfully received their CAP certification with zero deficiencies. This certification is the next step in NeoGenomics offering its global pharmaceutical partners the much-needed option to use its Suzhou laboratories for trials relating to patients in China, from early discovery translational research through clinical trial work in oncology drug development programs.

"We have strategically partnered with local China CRO organizations to support our pharma customers. In 2020, we built our Suzhou lab and have offered multiple testing capabilities in China through strategic partners for the past few years," said Lynn Tetrault, Chair and Interim CEO of NeoGenomics. "The CAP certification is an attractive addition to our quality and regulatory capabilities and requirements to support our pharma partners' clinical trial needs."

NeoGenomics continues to offer global clinical pharma services including next generation sequencing, FISH, Flow, IHC, anatomic pathology and cytology services to pharmaceutical and technology platform partners by a technology-agnostic strategy. In China, NeoGenomics has established partnerships with Genetron, Teddy Clinical, Sequanta and KingMed laboratories to offer research services to its customers.

About NeoGenomics, Inc.

NeoGenomics, Inc. specializes in cancer genetics testing and information services, providing one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. The Company's Pharma Services Division serves pharmaceutical clients in clinical trials and drug development.

NeoGenomics has a national footprint and broad customer reach in cancer-related genetic testing services and one of the most comprehensive oncology-focused test menus. NeoGenomics is uniquely positioned to assist pharmaceutical and biotech companies to develop life-changing therapeutics, tests, and processes to support our mission of saving lives through enhanced patient care.

NeoGenomics is committed to connecting patients with life altering therapies and trials. We believe that, together, with our partners, we can help patients with cancer today and the next person diagnosed tomorrow. In carrying out these commitments, NeoGenomics adheres to all relevant data protection laws, provides transparency and choice to patients regarding the handling and use of their data through our Notice of Privacy Practices, and has invested in leading technologies to ensure the data we maintain is secured at all times.

Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited and CLIA certified laboratories in Fort Myers and Tampa, Florida; Aliso Viejo, Carlsbad and San Diego, California; Research Triangle Park, North Carolina; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; and Phoenix, Arizona; and CAP accredited laboratories in Cambridge, United Kingdom; Rolle, Switzerland; Singapore and China. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, and managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia.

Forward Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," expect," plan," "could," "would," "may," "will," "believe," "estimate," "forecast," "goal," "project, "guidance," "plan," "potential" and other words of similar meaning, although not all forward-looking statements include these words. These forward-looking statements address various matters, including statements regarding improving operational efficiency, returning to profitable growth and its ongoing executive recruitment process. Each forward-looking statement contained in this press release is subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company's ability to identify and implement appropriate financial and operational initiatives to improve performance, to identify and recruit executive candidates, to continue gaining new customers, respond to the effects of the COVID-19 outbreak, offer new types of tests, integrate its acquisitions and otherwise implement its business plan, and the risks identified under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 25, 2022 as well as other information previously filed with the SEC.

We caution investors not to place undue reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document (unless another date is indicated), and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

For further information, please contact:

Charlie Eidson
Director, Investor Relations and Corporate Development
T: 239.768.0600 x2726
M: 952.221.8816
charlie.eidson@neogenomics.com

SOURCE: NeoGenomics, Inc.

View source version on accesswire.com:
https://www.accesswire.com/703766/NeoGenomics-Receives-CAP-Certification-in-their-Suzhou-China-Pharma-Services-Laboratory

FAQ

What does the CAP certification mean for NeoGenomics?

CAP certification signifies that NeoGenomics' Suzhou laboratory meets high-quality standards, enhancing its ability to conduct clinical trials for pharmaceutical partners.

How will the CAP certification impact NeoGenomics' stock?

The certification is likely to boost investor confidence by improving NeoGenomics' operational capabilities and market reach in the biopharma sector.

What services does NeoGenomics offer with the new certification?

NeoGenomics provides a range of oncology testing services, including next-generation sequencing, through its CAP-certified Suzhou laboratory.

When was the CAP certification announced for NeoGenomics?

The CAP certification was announced on June 3, 2022.

What strategic partnerships has NeoGenomics formed in China?

NeoGenomics has partnered with local CROs, including Genetron and KingMed, to enhance its service offerings in China.