Precipio Enters Joint Collaboration with University of Pennsylvania

Precipio (NASDAQ:PRPO) has announced it has entered into a joint collaboration with the Department of Pathology and Laboratory Medicine at the University of Pennsylvania (Penn).

As quoted in the press release:

This marks a significant step forward for Precipio in expanding its academic partner platform to meet the rapidly growing volume in its pathology business. Precipio’s vision is to combine leading academic sub-specialized expertise with the highest quality laboratory processes to eradicate the problem of misdiagnosis.

With the addition of Penn, Precipio continues to grow its unique platform and provide its customers with access to the largest academic pathology expertise network worldwide.

“We are delighted that through this collaboration, our expertise will further benefit physicians and their patients worldwide,” said Dr. David Roth, Chairman of the Department of Pathology at the University of Pennsylvania. “For many years we have contemplated additional ways to branch out beyond our catchment area and expand our services. This collaboration provides an attractive way to accomplish that.”

Precipio’s value proposition

Precipio’s strategy is to leverage academic expertise to help eradicate the problem of cancer misdiagnosis. While the industry rate of misdiagnosis varies from 5-25% of patients^1 2 (depending on the type of cancer), through this collaborative approach Precipio has reached a level of 99% concordance between expert hematopathologists and Precipio in the types of cancers we specialize in.³

Oncologists are critically reliant on pathology to provide them with the right diagnosis. Precipio’s customers are supported by a backbone of premier academic pathologists that span a broad range of subspecialties, providing vital expertise to help their patients in their battle with cancer.

Academic pathologists maintain their high level of expertise through teaching at the medical school; conducting research, authoring publications, and attending and often speaking at various industry conferences. These activities are critical to ensuring that faculty are at the cutting edge of the industry and continue to develop their expertise. Through this collaborative platform, Precipio accesses this world-class expertise, making that collected knowledge and experience available to its oncology customers.

Click here to read the full press release.