SOPHiA GENETICS Announces Instituto Mário Penna as New Customer
SOPHiA GENETICS (Nasdaq: SOPH) announced that Instituto Mário Penna is now utilizing its SOPHiA DDM™ Platform. This Brazilian oncology center, located in Belo Horizonte, will use the platform to enhance its research and testing for blood cancers. The SOPHiA DDM™ Platform employs next-generation sequencing (NGS) to accurately target key variants from various sample types, aiding in timely and precise detection.
The Instituto Mário Penna, a major oncology service provider in Brazil, offers comprehensive cancer care including in-patient, out-patient, chemotherapy, radiation treatments, clinical laboratory analysis, and surgery. The integration of SOPHiA DDM™ aims to improve on-site diagnostic capabilities and support data-driven treatment decisions.
Blood cancers are the fifth most common type of cancer globally, and the institute's adoption of this AI-based technology reflects a commitment to advancing healthcare in Brazil.
- Instituto Mário Penna, a leading oncology center, implements SOPHiA DDM™, expanding SOPHiA GENETICS' customer base.
- SOPHiA DDM™ Platform aids in fast, accurate detection of genomic variants associated with blood cancers.
- The platform offers nearly 100% reproducibility, ensuring reliable sequencing data.
- The integration supports data-driven treatment plans, aligning with the trend towards precision medicine.
- No specific financial figures or new revenue projections from this collaboration were disclosed.
- The PR lacks information on the cost implications or ROI for SOPHiA GENETICS from this integration.
Insights
The partnership between SOPHiA GENETICS and Instituto Mário Penna is likely to yield significant financial benefits for SOPHiA GENETICS. By aligning with a major cancer treatment provider in Brazil, SOPHiA GENETICS can potentially increase its market penetration in Latin America. This collaboration could lead to higher sales of their DDM™ Platform and associated services. In the short term, investors might see a modest boost to revenues as the platform is integrated and begins to be used. In the long term, the continued adoption of the platform by other institutions could substantially increase profitability. Furthermore, the reliability and accuracy of the results, nearly 100% reproducible, might attract more customers, boosting the company's market position and stock price.
From a medical research perspective, the implementation of the SOPHiA DDM™ Platform at Instituto Mário Penna has significant implications. The platform’s ability to compute a wide array of genomic variants with almost 100% reproducibility could revolutionize how blood cancers are diagnosed and treated. This move could lead to faster and more precise treatments, improving patient outcomes. Additionally, the platform’s use of next-generation sequencing (NGS) and machine learning can lead to discoveries in rare and challenging cases, potentially opening new frontiers in cancer research. The commitment to precision medicine and timely data will benefit both researchers and clinicians, setting a new standard for cancer care in the region.
From a market perspective, the engagement with Instituto Mário Penna enhances SOPHiA GENETICS' brand visibility and credibility within the oncology community. This development showcases SOPHiA GENETICS' commitment to expanding its presence in emerging markets like Brazil, where the demand for advanced cancer diagnostics is growing. This strategic move could prompt other healthcare institutions in the region to consider adopting the SOPHiA DDM™ Platform, driving further market adoption. Moreover, the partnership underscores the growing importance of data-driven medicine in global healthcare, highlighting SOPHiA GENETICS' role in this transformative shift. In the short term, this partnership may lead to increased inquiries and demonstrations, setting the stage for long-term market dominance.
The hospital will enhance its testing and research of blood cancers with the SOPHiA DDM™ Platform
Cancer is the second most common cause of death in
"At SOPHiA GENETICS we are committed to accelerating and expanding the use of precision medicine," said Ricardo Mendonca Filho, PhD., Managing Director, LAPAC, SOPHiA GENETICS. "Instituto Mário Penna is a staple within the cancer-care community in
Advances in diagnostics and treatment of blood cancers depend on timely, cost-effective, and reliable sequencing data. The SOPHiA DDM™ Platform uses NGS to target key variants from FFPE, blood, or bone marrow samples helping lead to fast and accurate detection of variants associated with the disease.
The SOPHiA DDM™ Platform is specifically designed to compute a wide array of genomic variants and continually hones its machine learning algorithms to detect genomic variants associated with rare and challenging cases. Additionally, the SOPHiA DDM™ Platform delivers results that are nearly 100 percent reproducible to provide consistent inter- and intra-run results, ensuring stable and trustworthy sequencing data.
For more information on SOPHiA GENETICS, visit SOPHiAGENETICS.COM, or connect on LinkedIn.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures, unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact support@sophiagenetics.com to obtain the appropriate product information for your country of residence.
SOPHiA GENETICS Forward-Looking Statements:
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
1 https://www.cancer.net/blog/2023-07/cancer-my-community-addressing-health-disparities-brazil
2 https://www.worldwidecancerresearch.org/news-opinion/2022/september/blood-cancer-everything-you-need-to-know/
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