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ISPC iSpecimen Inc

0.24575
-0.00265 (-1.07%)
21 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
iSpecimen Inc NASDAQ:ISPC NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.00265 -1.07% 0.24575 0.2201 0.2457 0.2558 0.211 0.248 152,987 21:30:00

iSpecimen Launches New Virtual Cancer Sequencing Procurement Program

30/08/2023 12:30pm

GlobeNewswire Inc.


iSpecimen (NASDAQ:ISPC)
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iSpecimen Inc. (Nasdaq: ISPC) (“iSpecimen” or the “Company”), an online global marketplace that connects scientists requiring biospecimens for medical research with a network of healthcare specimen providers, announced today the launch of a new program that gives researchers consistent and direct access to mutation-characterized formalin-fixed, paraffin-embedded (“FFPE”) cancer tumor tissues, relieving a major bottleneck in cancer research. The program will initially offer samples for lung, colon and breast cancers.

The genetic signatures of cancer tumor tissues provide important information necessary to develop new treatments and diagnostics. Through this new offering, cancer researchers can advance their work by efficiently accessing these highly sought-after tumor tissues online, overcoming the existing manual, time-consuming and costly process of requesting biospecimen samples from multiple sources and suppliers.

“This is a very important program for the future of iSpecimen. Our new cancer sequencing procurement program provides cancer researchers with access to mutation-characterized FFPE tumor tissues without requiring that they manage the risk and resource-intense course of overseeing the sequencing process,” said Tracy Curley, iSpecimen’s CEO. “Additionally, not only does the program offer limitless, on-demand access to cases specifically earmarked for this program, but it also empowers researchers to customize future FFPE tissue requests – a capability that has the potential to drastically change the cancer research paradigm. As there is currently a shortage of mutation-characterized FFPE tissues available to researchers, iSpecimen is committed to solving this problem and intends to expand both the volume of FFPE tissue blocks sequenced and range of cancer types included in the program.”

iSpecimen has contracted with GENEWIZ from Azenta Life Sciences to perform the cancer panel sequencing and mutational analyses. Donors are carefully selected for the highest-quality results using data from iSpecimen’s Marketplace platform and The Cancer Genome Atlas (TCGA), a landmark cancer genomics program and joint effort between the National Cancer Institute and National Human Genome Research Institute, to create profiles of specific stages and histological types that are most likely to present higher rates of mutations. The available gene panel consists of 161 mutations, including ALK, EGFR, KRAS, MET, NRAS, PTEN, RET, TP53 and more via the AmpliSeq for Illumina Comprehensive Cancer Panel v3.

As this program progresses, pre-screened samples will be offered for a number of additional cancer types, including pancreatic, renal, brain, ovarian, gastric, melanoma, bladder and prostate. In addition to FFPE tumor tissue, serum, plasma, flash frozen tissue, viably frozen tissue and Dissociated Tumor Cells (DTCs) will also be offered in the future.

To learn more, visit: https://www.ispecimen.com/finally-an-on-demand-source-of-mutation-characterized-tumor-ffpe-tissue-samples/.

About iSpecimeniSpecimen (Nasdaq: ISPC) offers an online marketplace for human biospecimens, connecting scientists in commercial and non-profit organizations with healthcare providers that have access to patients and specimens needed for medical discovery. Proprietary, cloud-based technology enables scientists to intuitively search for specimens and patients across a federated partner network of hospitals, labs, biobanks, blood centers and other healthcare organizations. For more information, please visit www.ispecimen.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as "may," "will," "expect," "intend," "anticipate," “believe," "estimate" and "continue" or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the risk factors contained in the Company's filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. Forward-looking statements speak only as of the date they are made. New risks and uncertainties arise over time, and it is not possible for the Company to predict those events or how they may affect the Company. If a change to the events and circumstances reflected in the Company's forward-looking statements occurs, the Company's business, financial condition and operating results may vary materially from those expressed in the Company's forward-looking statements.

Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, please contact:

Investor ContactsKCSA Strategic CommunicationsPhil Carlson / Erika Kay iSpecimen@kcsa.com

Media ContactsKCSA Strategic CommunicationsRaquel Cona / Shana MarinoiSpecimen@kcsa.com

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