Interpace Biosciences Expands Strategic Partnership Activities with Genecast Biotechnology in China

Further Strengthens Business Development Team with Key Hire

PARSIPPANY, N.J., Dec. 05, 2019 (GLOBE NEWSWIRE) -- Interpace Bioscience’s subsidiary, Interpace Pharma Solutions today announced that it is continuing to expand a previously announced partnership agreement to jointly develop, promote and offer translational studies and clinical trial solutions to biotech and pharmaceutical companies with Genecast (Beijing) Biotechnology Co. Ltd (“Genecast”) of the Peoples Republic of China (PRC). Genecast is a leader in offering diagnostic products and services in the field of oncology and providing a wide range of diagnostic services to pharmaceutical and biotech companies in the PRC. Interpace is sending members of its technical/scientific and business development teams to China this week to begin the tech transfer requirements to support over $3 million of recently secured new business with global pharmaceutical companies.

Michael McCartney, Chief Commercial Officer of Interpace Pharma Solutions commented, “We will be joining the Genecast business development team in China to jointly promote our capabilities of tumor profiling testing and clinical testing services in China and will be traveling to Beijing, Suzhou and Shanghai to meet with Genecast pharma customers who are in need of Interpace Pharma Solutions’ services” Mr. McCartney also added “We are thrilled to announce the addition of Gordon Vansant, Ph.D. a highly regarded industry expert to our BD team. Dr. Vansant has deep relationships and contacts in China to further strengthen and expand our penetration in China and Asia and will lead our BD efforts in the Southwest US, headquartered out of San Diego.”

Du Bo, Co-Founder and CEO of Genecast, said, “We are excited that the partnership with Interpace Pharma Solutions is already working and we believe will strengthen our capabilities to provide our customers with high-quality, streamlined one-stop testing services globally. Interpace Pharma Solutions development is in line with our strategy of helping pharmaceutical and biotech companies on a global basis accelerate their biomarker-driven drug development and drive precision medicine forward.”

Jack Stover, President & CEO of Interpace Biosciences commented, “We are pleased with the new business already being booked as a result of our relationship with such a high-quality partner as Genecast and we are pleased to have such an experienced and successful executive as Dr. Vansant join our Pharma Solutions BD team. We look forward to expanding our partnership with Genecast as well as expanding our international capabilities in Europe, Asia and elsewhere in the near future,” concluded Stover.

About Interpace Biosciences

Interpace Biosciences is a leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications.

Interpace Pharma Solutions is a market leader in providing pharmacogenomics testing, genotyping, and biorepository services to the pharmaceutical and biotech industries. The Biopharma Business also advances personalized medicine by partnering with pharmaceutical, academic, and technology leaders to effectively integrate pharmacogenomics into their drug development and clinical trial programs with the goals of delivering safer, more effective drugs to market more quickly, and improving patient care.

Interpace Diagnostics is a fully integrated commercial and bioinformatics business unit that provides clinically useful molecular diagnostic tests, bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. Interpace has four commercialized molecular tests and one test in a clinical evaluation process (CEP).

For more information, please visit Interpace Bioscience’s website at www.interpace.com.

Genecast (Beijing) Biotechnology Co. Ltd.

Genecast is a leader in offering diagnostic products & services in the field of oncology and providing a wide range of diagnostic services to pharmaceutical and biotech companies in the Peoples Republic of China (PRC). Genecast’s laboratories have met all applicable standards for accreditation including accreditation from the CAP and earned top marks in a number of external quality assessments carried out by CAP, EMQN, the Clinical Test Center of the National Health Commission of China and Center of Clinical Laboratories of Shanghai.

Genecast has formed collaborations with more than 20 pharmaceutical and biotech companies in providing comprehensive pre-clinical and clinical testing services.

For more information, please visit Genecast’s website at http://english.genecast.com.cn.

Media Contact:
Dan Chen
Genecast (Beijing) Biotechnology
chen.dan@genecast.com.cn

Forward Looking Statements on Behalf of Interpace Biosciences

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to the Company’s future financial and operating performance. The Company has attempted to identify forward looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from those expressed or implied by any forward-looking statement. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

INTERPACE CONTACTS:
Investor Relations
Joseph Green, Edison Group
jgreen@edisongroup.com

Released December 5, 2019