Progenity Supports the Preeclampsia Foundation Call to Action to Accelerate Development and Adoption of Biomarker Tests for Preeclampsia

Rhea-AI Summary

Progenity, Inc. (Nasdaq: PROG) supports the Preeclampsia Foundation's initiative to expedite the development of biomarker tests for diagnosing preeclampsia, a serious pregnancy condition. CEO Harry Stylli emphasized the urgency of accurate testing since current methods are outdated. Progenity is advancing a novel biomarker blood test to help healthcare professionals distinguish preeclampsia from other conditions. The test aims to improve patient care and potentially reduce unnecessary hospitalizations and preterm births.

Positive

• Progenity is developing a novel biomarker blood test to rule out preeclampsia, potentially enhancing patient diagnosis and care.
• The initiative could help reduce unnecessary hospitalizations and preterm deliveries.

Negative

• The company highlights reliance on outdated diagnostic tools developed over 100 years ago.

SAN DIEGO, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), a biotechnology company with an established track record of success in developing and commercializing molecular testing products, today announced support for the Preeclampsia Foundation’s recent call to action advocating for accelerating the development and clinical adoption of biomarker tests for the diagnosis of preeclampsia, a life-threatening hypertensive disorder of pregnancy. The foundation issued its call to action urging the life science community and policy makers to accelerate the development and adoption of biomarker-based testing for preeclampsia.

“We support the Preeclampsia Foundation both in their mission and in their call for accurate testing for preeclampsia,” said Harry Stylli, PhD, CEO, chairman of the board, and co-founder of Progenity. “The need is urgent because, while preeclampsia rates are continuing to rise, healthcare providers today are still evaluating symptoms and risk using technology from the late 1800s. We are demonstrating our commitment to this cause by investing in the development of a biomarker-based test that is currently in an advanced stage of development. This test, which is potentially the first of its kind, could bring more personalized care to aid in the diagnosis and treatment of preeclampsia.”

Preeclampsia occurs in 5 to 8% of pregnancies and is a leading cause of preterm birth and maternal and infant death. A progressive condition that can occur during the third trimester of pregnancy, preeclampsia is typically characterized by elevated blood pressure, edema (swelling in hands or face), and protein in the urine. The cause of preeclampsia is not fully understood and involves multiple pathophysiologic pathways. It is estimated that over 700,000 pregnant women in the United States experience signs or symptoms that could be attributed to preeclampsia each year, but symptoms can be difficult to differentiate from those of other hypertensive disorders of pregnancy. Healthcare providers in the United States are primarily equipped with non-specific tools developed over 100 years ago to diagnose this potentially deadly condition.  

Progenity is currently developing a novel biomarker blood test designed to rule out preeclampsia in symptomatic women during the third trimester. This objective risk assessment tool is designed to help healthcare providers differentiate between preeclampsia and other, lower-risk hypertensive disorders. By identifying patients who are not at risk for developing preeclampsia, the test could enable healthcare providers to better guide patient care and maintain pregnancies to term when possible. This will potentially lead to fewer unnecessary hospitalizations and preterm deliveries in this patient population, while providing added reassurance for patients.

To lend support to the Preeclampsia Foundation’s call to action, clinicians, researchers and patients are encouraged to sign their petition for change.

About Progenity

Progenity, Inc. is a biotechnology company with an established track record of success in developing and commercializing molecular testing products, as well as innovating in the field of precision medicine. Progenity provides in vitro molecular tests designed to improve lives by providing actionable information that helps guide patients and physicians in making medical decisions during key life stages. The company 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 additional information about Progenity, please visit the company’s website at www.progenity.com.

Safe Harbor Statement or Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, 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, including statements concerning the development of our preeclampsia rule-out test are forward-looking statements. 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,” “plan” or the negative of these terms, and similar expressions intended to identify forward-looking statements. These statements reflect our plans, estimates, and expectations, as of the date of this press release. These statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the forward-looking statements expressed or implied in this press release. Such risks, uncertainties, and other factors include, among others, our ability to develop and commercialize our preeclampsia rule-out test and those risks described in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Progenity’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, filed with the SEC on August 14, 2020, and other subsequent documents we file with the SEC.

Progenity expressly disclaims any obligation to update any forward-looking 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
kblomlowery@cglife.com
(619)743-7294

 

FAQ

What is the recent press release from Progenity about?

Progenity announced its support for the Preeclampsia Foundation's call to expedite biomarker testing for preeclampsia.

What is the significance of Progenity's biomarker blood test?

The test is designed to rule out preeclampsia in symptomatic women, improving diagnosis and patient care.

How prevalent is preeclampsia?

Preeclampsia occurs in 5 to 8% of pregnancies, leading to serious health risks for mothers and infants.

What are the potential benefits of the biomarker test by Progenity?

It could lead to fewer unnecessary hospitalizations and allow healthcare providers to maintain pregnancies to term.

When was the press release issued?

The press release was issued on October 1, 2020.

What is Progenity's stock symbol?

Progenity's stock symbol is PROG.