Exagen Inc. Partners with Boston’s Tufts Medical Center to Offer AVISE® Testing as an In-Network Benefit for Patients Suffering from Debilitating Autoimmune Diseases

Rhea-AI Summary

Exagen Inc. (Nasdaq: XGN) announced that all AVISE test offerings are now an in-network service with Tufts Medical Center. This collaboration aims to enhance the accuracy and accessibility of autoimmune disease testing. John Butz from Tufts emphasized the need for better diagnostic options for autoimmunity. Ron Rocca, CEO of Exagen, noted that this agreement will significantly improve patient care through better diagnosis and monitoring capabilities. The partnership is expected to facilitate faster diagnosis and treatment interventions for complex autoimmune diseases.

Positive

• All AVISE test offerings are now in-network with Tufts Medical Center, enhancing patient access.
• Tufts Medical Center is a leading facility for autoimmune disease treatment, which could bolster the credibility of AVISE tests.
• Potential for increased test utilization through the established network, leading to improved revenues.

Negative

• None.

SAN DIEGO, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), an organization dedicated to transforming the care continuum for patients suffering from autoimmune diseases, announced today that all AVISE test offerings (CTD, Lupus, SLE Prognostic, SLE Monitor, APS, Vasculitis AAV, MTX, and HCQ) are now a contracted in-network service with Tufts Medical Center, an internationally-respected academic medical center.

“Autoimmune diseases are challenging for healthcare providers to diagnose and treat and can have serious implications for patients. We needed to provide a more accurate testing option and expanded access to testing to most effectively care for patients with autoimmune diseases in our Center for Arthritis and Rheumatic Diseases,” said John Butz, Director of Laboratory Services at Tufts Medical Center. “It is incredibly important to us to have tests that offer the possibility of a faster diagnosis and earlier intervention in treatment of autoimmune diseases, as we work closely with referring physicians to provide high-quality, compassionate and convenient care to our patients.”

“Tufts Medical Center is recognized as one of the nation’s leading centers for the treatment of arthritis and rheumatic disease. As one of Boston’s premiere hospitals, the incorporation of AVISE testing will play an important part in enabling rheumatologists’ ability to improve patient care through the differential diagnosis, prognosis, and monitoring of complex autoimmune diseases, including SLE,” said Ron Rocca, President and CEO of Exagen.

About Exagen Inc.

Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. For further information please visit www.exagen.com.

Forward Looking Statements

Exagen cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected benefits of the in-network agreement for the AVISE test offerings with Tufts Medical Center, including the availability and expected use of the AVISE test offerings through the Tufts Medical Center network, and any potential for increased use of the AVISE laboratory tests. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect our business, financial condition and results of operations, including as a result of shutdowns of our facilities and operations as well as those of our suppliers and courier services, impeding patient movement and interruptions to healthcare services causing a decrease in test volumes, disruptions to the supply chain of material needed for our tests, our sales and commercialization activities and our ability to receive specimens and perform or deliver the results from our tests, delays in reimbursement and coverage decisions from Medicare and third-party payors and in interactions with regulatory authorities, and delays in ongoing and planned clinical trials involving our tests; the company’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products and promoted therapeutics among rheumatologists, patients, third-party payers and others in the medical community; the company’s ability to successfully execute on its Dx/Rx strategy, including its promotion efforts for SIMPONI®; third party payers not providing coverage and adequate reimbursement for the company’s testing products or promoted therapeutics; the company’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting the company’s business; and other risks described in the company’s prior press releases and the Company’s filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the company’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investors
Westwicke Partners
Mike Cavanaugh
Mike.Cavanaugh@westwicke.com 
646.677.1838

Company
Exagen Inc.
Kamal Adawi, Chief Financial Officer
kadawi@exagen.com
760.477.5514

 

FAQ

What does the in-network agreement between Exagen Inc. and Tufts Medical Center entail?

The in-network agreement allows all AVISE test offerings from Exagen to be available at Tufts Medical Center, enhancing access to autoimmune disease testing.

How will the new testing services impact patients at Tufts Medical Center?

The new testing services are expected to provide faster diagnoses and improved treatment interventions for patients with autoimmune diseases.

What are AVISE test offerings?

AVISE test offerings include diagnostic tests for various autoimmune diseases, such as lupus and vasculitis, aimed at improving patient care.

When did Exagen announce the partnership with Tufts Medical Center?

Exagen announced the partnership on January 21, 2021.

What is the significance of the partnership for Exagen Inc. (XGN)?

The partnership could lead to increased market acceptance and utilization of Exagen's testing products, potentially driving revenue growth.