NeoGenomics to Leverage Thermo Fisher Scientific’s Ion Torrent Genexus System in Upcoming Phase 1 Study for Myeloid Cancers

Rhea-AI Summary

NeoGenomics, Inc. (NASDAQ:NEO) announced its collaboration with Thermo Fisher Scientific to utilize the Ion Torrent Genexus System for a Phase 1 study focused on myeloid cancers. The Genexus System streamlines the specimen-to-report workflow, enabling result delivery in as little as one day. NeoGenomics gains early access to the Oncomine Myeloid Assay GX v2 to validate its performance. This partnership aims to enhance genomic data delivery speed, improving research capabilities for myeloid cancer treatment development, thus addressing critical patient needs.

Positive

• Partnership with Thermo Fisher Scientific enhances NGS capabilities.
• Early access to Oncomine Myeloid Assay GX v2 supports research.
• Genexus System reduces turnaround time for genomic testing to one day.

Negative

• None.

FT. MYERS, FL / ACCESSWIRE / December 10, 2021 / NeoGenomics, Inc. (NASDAQ:NEO), a leading provider of cancer-focused genetic testing services and global oncology contract research services, announced it will use Thermo Fisher Scientific's Ion Torrent Genexus System, the first turnkey next-generation sequencing (NGS) solution that automates the specimen-to-report workflow to deliver results in as little as a single day, in a pharma-sponsored Phase 1 study.

As part of the preclinical research investigation, NeoGenomics will receive early access to Thermo Fisher's new Oncomine Myeloid Assay GX v2 to validate the assay on the Genexus System. Thermo Fisher introduced the Oncomine Myeloid Assay GX v2 at the 63^rd American Society of Hematologists (ASH) Annual Meeting & Exposition in Atlanta December 11-14. The assay is designed to optimize variant detection, covering key genes and fusions across the myeloid cancer spectrum.

Mark Mallon, CEO of NeoGenomics, said, "We have worked with Thermo Fisher Scientific in multiple genomic initiatives and are excited to leverage their Genexus System to deliver comprehensive genomic data with unprecedented speed. By compressing turnaround time for results from weeks to days we can ensure researchers have the data they need to accelerate progress as they look to develop critically needed myeloid cancer treatments in the future."

"Myeloid cancers such as acute myeloid leukemia present unique challenges due to their heterogeneity and sample complexity," said Garret Hampton, president of clinical sequencing and oncology, Thermo Fisher Scientific. "NGS allows researchers to profile all key mutations simultaneously, saving time compared to sequential single-gene testing. By combining the speed of the Genexus System with NeoGenomics' expertise and data services, we hope to advance discoveries that will inform future therapeutic development for patients who desperately need new treatment options."

NeoGenomics continues to be a leader with ultra-fast NGS options for oncology research and was an early adopter of the Genexus System. It is also one of the first oncology reference laboratories to offer the Oncomine Dx Target Test on their clinical diagnostic testing menu.

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 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 CAP accredited laboratories in Cambridge, United Kingdom; Rolle, Switzerland; and Singapore. 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

Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. 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," "plan," "potential" and other words of similar meaning. These forward looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward-looking statements as the result of the Company's ability 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, as well as additional factors discussed under the heading "Risk Factors" and elsewhere in the Company's Annual Report on Form 10-K filed with the SEC on February 25, 2021, as such information has been updated in subsequent SEC filings. . As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. NeoGenomics routinely posts information that may be important to investors in the "Investor Relations" section of its website at www.neogenomics.com. The Company encourages investors and potential investors to consult the NeoGenomics website regularly for important information about NeoGenomics.

Forward-looking statements speak only as of the date such statements are made (unless another date is indicated) and should not be relied upon as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, it specifically disclaims any obligation to do so.

For further information, please contact:

Doug Brown
Chief Strategy and Corporate Development Officer
T: 239.768.0600 x2539
M: 704.236.2064
doug.brown@neogenomics.com

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

SOURCE: NeoGenomics, Inc.

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FAQ

What is the purpose of NeoGenomics' Phase 1 study using the Genexus System?

The Phase 1 study aims to enhance genomic testing for myeloid cancers, enabling faster delivery of comprehensive genomic data critical for research.

What are the benefits of the Ion Torrent Genexus System for NeoGenomics?

The Genexus System allows for rapid specimen-to-report workflows, reducing turnaround time for results from weeks to as little as one day.

When was the Oncomine Myeloid Assay GX v2 introduced?

The Oncomine Myeloid Assay GX v2 was introduced at the 63rd American Society of Hematologists Annual Meeting, held from December 11-14, 2021.

How does the collaboration with Thermo Fisher Scientific impact NeoGenomics' services?

This collaboration strengthens NeoGenomics' position in the oncology testing market by providing advanced genomic testing services and supporting myeloid cancer research.