Progenity Announces New Patent for Single-Molecule Detection Technology

Rhea-AI Summary

Progenity, Inc. (Nasdaq: PROG) announced the issuance of U.S. Patent No. 11,186,863, which covers methods for counting nucleic acid molecules, crucial for their developing Single-Molecule Detection Platform. This platform aims to simplify noninvasive prenatal testing and cancer liquid biopsies by eliminating the need for costly sequencing. Progenity holds a strong patent portfolio with 96 families comprising 180 issued patents. As the company shifts from commercial diagnostics, it seeks partners to advance this innovative technology.

Positive

• Issuance of U.S. Patent No. 11,186,863 enhances the company's intellectual property.
• Development of the Single-Molecule Detection Platform could significantly reduce costs and streamline testing procedures.
• Strong patent portfolio with 96 families supports future innovations and partnerships.

Negative

• None.

SAN DIEGO, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), a biotechnology company innovating in the fields of gastrointestinal health and oral biotherapeutics, today announced a new patent related to its single-molecule detection platform under development.

The USPTO has issued U.S. Patent No. 11,186,863 entitled, “Methods, Systems, and Compositions for Counting Nucleic Acid Molecules.” The issued claims cover methods for capturing, amplifying, and imaging single copies of target nucleic acid molecules.

“This patent covers critical methods for counting target molecules, obviating the need for sequencing,” said Matthew Cooper, General Manager, Diagnostics. “Our Single-Molecule Detection Platform is designed to enable tests such as noninvasive prenatal testing (NIPT) or liquid biopsy for cancer to be performed without the need for costly, complex sequencing, which would greatly reduce cost and simplify operational implementation. The platform also has potential applications beyond nucleic acids, such as proteins. As Progenity migrates away from the commercial diagnostics business, we are actively seeking partners to further develop this promising asset.”

Progenity has developed a strong patent portfolio supporting its single-molecule detection platform, including six distinct patent families that cover different aspects of the company’s molecular counting platform and a separate family directed to detecting nucleosomal positioning patterns, which can be useful for determining cell-free DNA tissue-of-origin. These patents are part of Progenity’s corporate portfolio consisting of 96 patent families, including 180 issued patents and more than 220 pending applications. The portfolio includes patents and applications directed to methods and devices for drug delivery, methods and devices for GI sampling and diagnostics, methods and compositions for treating disease, and molecular and protein tools, assays and diagnostics.

About Progenity
Progenity, Inc. is a biotechnology company innovating in the fields of women’s health, gastrointestinal health and oral biotherapeutics. Progenity applies a multi-omics approach, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing products and to the development of a suite of investigational ingestible devices designed to provide precise diagnostic sampling and drug delivery solutions. Progenity’s vision is to transform healthcare to become more precise and personal by improving diagnoses of disease and improving patient outcomes through localized treatment with targeted therapies.

For more information visit www.progenity.com, or follow the company on LinkedIn or Twitter.

Forward Looking Statements
This press release contains “forward-looking statements,” which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts, included in this press release are forward-looking statements. Forward-looking statements include statements regarding Progenity’s products under development and the potential uses for such products in the United States and globally. In some cases, you can identify forward-looking statements by terms such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “develop,” “plan” or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that could cause Progenity’s actual results to differ materially from the forward-looking statements expressed or implied in this press release, including Progenity’s ability to successfully develop and commercialize its products under development, the uncertainties inherent in the development process, such as the regulatory approval process, the timing of regulatory filings, the ability to identify potential partners and other matters, including the ongoing COVID-19 pandemic, that could affect sufficiency of existing cash, cash equivalents and short-term investments to fund operations and the availability or commercial potential of Progenity’s products, and those risks described in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Progenity’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 18, 2021, and other subsequent documents we file with the SEC, including but not limited to Progenity’s Quarterly Reports on Form 10-Q. Progenity claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. Progenity expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.

Investor Contact:
Robert Uhl
Managing Director, Westwicke ICR
ir@progenity.com
(619) 228-5886

Media Contact:
Kate Blom-Lowery
CG Life
media@progenity.com
(619) 743-6294

FAQ

What is the significance of Progenity's new patent issued on December 2, 2021?

The new patent (U.S. Patent No. 11,186,863) relates to methods for counting nucleic acid molecules, which are essential for Progenity's Single-Molecule Detection Platform aimed at noninvasive prenatal testing and cancer diagnostics.

How could the new patent benefit Progenity (PROG) financially?

By simplifying testing processes and reducing costs, the new patent may increase the platform's marketability and lead to potential partnerships, enhancing Progenity's revenue streams.

What is the focus of Progenity's Single-Molecule Detection Platform?

The platform focuses on enabling tests such as noninvasive prenatal testing and liquid biopsy for cancer without the need for expensive sequencing methods.

What does Progenity's patent portfolio include?

Progenity's patent portfolio consists of 96 patent families, encompassing 180 issued patents and applications related to molecular testing, drug delivery, and diagnostics.