CARLSBAD, Calif., Aug. 5, 2015 (GLOBE NEWSWIRE) -- Signal Genetics, Inc. (NASDAQ:SGNL) (Signal), a commercial stage, molecular genetics diagnostic company focused on providing innovative diagnostic services that help physicians make better-informed decisions concerning the care of their patients suffering from cancer, today announced the signing of an agreement with America's Choice Provider Network (ACPN).
Under the terms of the agreement, the Signal Genetics MyPRS® assay will be offered through ACPN's proprietary network which covers over 22 million patients across the United States.
Tamara A. Seymour, Chief Financial Officer, commented, "We believe being a part of the America's Choice Provider Network is a great step for Signal and we expect increased reimbursement support for our assay through agreements such as this to have a positive impact on our revenue generation over the long term. As part of our overall growth strategy, we will continue to seek out these types of opportunities to ensure stable reimbursement as we work to make MyPRS® available for physicians and patients across the U.S."
MyPRS® is Signal Genetics' proprietary prognostic test for multiple myeloma that is able to accurately stratisfy patients into high and low-risk categories and molecular disease subtypes. By doing this, physicians are better able to treat patients based on their risk classification to help ensure they are receiving the most appropriate level of care and prevent over treating or under treating the disease.
About Signal Genetics, Inc.
Signal Genetics, Inc., headquartered in Carlsbad, California, is a commercial stage, molecular diagnostic company focused on providing innovative diagnostic services that help physicians make better-informed decisions concerning the care of their patients suffering from cancer. Signal's mission is to develop, validate and deliver innovative diagnostic services that enable better patient-care decisions. Signal was founded in January 2010 and became the exclusive licensee in its licensed field to the renowned research on multiple myeloma performed at the University of Arkansas for Medical Sciences, in April 2010.
About America's Choice Provider Network
ACPN is an independent, multi-specialty national provider network that has developed its own proprietary network and technology for the purpose of achieving consistency in healthcare transactions, simplifying claims adjudication processes, creating reasonable reimbursement arrangements and establishing reliable healthcare access for all parties; providers, payers and patients.
Across the nation, greater than 22 million members and 1,400 payers have access to ACPN's network through a client base consisting of Insurance Carriers, Third Party Administrators, Health and Welfare Funds, Employer Groups and Self-Insured Health Plans.
Safe Harbor Statement
This press release contains "forward-looking" statements. Such statements can be identified by, among other things, the use of forward-looking language such as the words "may," "will," "expect," "anticipate," "estimate," "project," "would," "could" or words with similar meaning or the negatives of these terms or by the discussion of strategy or intentions. The forward-looking statements in this release include statements regarding our ability to achieve profitability and to penetrate the market opportunity that we believe exists for our prognostic genetic test. Such forward-looking statements are subject to a number of risks and uncertainties that could cause our actual results to differ materially from those discussed here, such as our ability to obtain adequate coverage and reimbursement for our tests from third party payors, our ability to obtain necessary regulatory clearances and approvals, the ability of our tests to keep pace with rapid advances in technology, medicine and science, and our ability to execute our marketing strategy and gain acceptance in the market, along with those other risks and uncertainties detailed in our SEC filings, and involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward looking statements contained in this press release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date this release and we assume no obligation to update or revise these statements unless otherwise required by law.