Progenity Strengthens Intellectual Property for Single-Molecule Detection Technology with Additional Patent
Progenity, Inc. (Nasdaq: PROG) announced the issuance of U.S. Patent No. 11,230,731 for its single-molecule detection assay platform. This patent focuses on methods for counting nucleic acid molecules, enhancing the firm's intellectual property portfolio in noninvasive prenatal testing and liquid biopsy. The patent supports a platform aimed at reducing costs and turnaround times for genomic tests. Progenity's patent estate encompasses 96 families, including 180 issued patents. The company is exploring partnerships to expedite market entry for its innovative diagnostic solutions.
- Issuance of U.S. Patent No. 11,230,731 enhances Progenity's IP portfolio.
- Patent supports noninvasive prenatal testing (NIPT) and liquid biopsy applications.
- Potential to reduce costs and turnaround times for genomic tests.
- Progenity's patent estate includes 180 issued patents and over 220 pending applications.
- None.
SAN DIEGO, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, today announced the award of another new patent related to its single-molecule detection assay platform under development. The USPTO has issued U.S. Patent No. 11,230,731 entitled, “Methods, Systems, and Compositions for Counting Nucleic Acid Molecules.” The issued claims are directed to detecting a labeled target molecule on a solid support.
“We have added another important patent to our IP portfolio for the single-molecule detection platform, which is designed to enable sequence-free counting of target analytes including cell-free nucleic acids. We believe this approach may have important near-term impact in the fields of noninvasive prenatal testing (NIPT) and liquid biopsy. This latest patent covers key compositions and methods for labeling target molecules,” said Matthew Cooper, General Manager, Diagnostics. “This platform has the potential to greatly reduce operating costs and reduce turnaround times for genomic tests, with potential utility extending from nucleic acids to proteins. We are committed to maximizing the value of our patent portfolio and are actively assessing partnerships and other approaches that may expedite a path to market.”
The patent portfolio supporting Progenity’s single-molecule detection platform includes six distinct patent families covering different aspects of the molecular counting platform and a separate family directed to detecting nucleosomal positioning patterns, such as assessment of cell-free DNA tissue-of-origin. These patents are part of Progenity’s corporate patent estate 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:
Chuck Padala
Managing Director, LifeSci Advisors
ir@progenity.com
(917) 741-7792
Media Contact:
Kristin Schaeffer
CG Life
media@progenity.com
(858) 457-2436
FAQ
What is the significance of U.S. Patent No. 11,230,731 for Progenity (PROG)?
How many patents does Progenity (PROG) currently hold?
What potential benefits does Progenity's new patent offer?
Is Progenity (PROG) planning to partner for market entry?
