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TUCSON, Ariz., June 28, 2017 -- HTG Molecular Diagnostics, Inc. (Nasdaq:HTGM), a provider of instruments, reagents and services for molecular profiling applications, announced that it has launched its new HTG EdgeSeq PATH Assay for sale in the U.S. and Europe. The HTG EdgeSeq PATH Assay has been designed for retrospective gene expression profiling (GEP) to complement traditional immunohistochemistry (IHC) testing by allowing investigators to assess mRNA expression of large numbers of biomarkers when formalin-fixed, paraffin-embedded (FFPE) sample availability is limited. The assay is designed to detect up to 470 mRNA targets, typically assessed by IHC.
“We believe the trend toward smaller and less invasive biopsy methods, from which more and more information is needed, drives the market for our new HTG EdgeSeq PATH Assay,” stated TJ Johnson, President and Chief Executive Officer of HTG. “We expect this product to enable simple and cost effective retrospective studies, which, ultimately, could lead to new GEP-based diagnostic, prognostic and predictive classifiers in solid tumors and clinical IHC-replacement products, and an estimated $1.5 billion market opportunity.”
“We designed this assay to enable our customers to profile small tissue biopsies in a more comprehensive manner than conventional IHC permits, and we expect this additional GEP information to advance research that, in the end, will improve patient care,” stated Patrick Roche, Ph.D., HTG’s Senior Vice President, Research & Development.
About HTG:
Headquartered in Tucson, Arizona, the mission of HTG Molecular Diagnostics (HTG) is to empower precision medicine at the local level. In 2013 the company commercialized its first instrument platform and a portfolio of RNA assays that leveraged HTG's original proprietary nuclease protection chemistry. Continuous improvement led to the 2014 launch of the company’s HTG EdgeSeq product line, which automates sample and targeted library preparation for next-generation sequencing. Additional information is available at www.htgmolecular.com.
Safe Harbor Statement:
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the market drivers for, and the expected benefits and uses of, our new HTG EdgeSeq PATH Assay. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management's current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, the risk that we may not successfully commercialize the HTG EdgeSeq PATH Assay, the risks that the HTG EdgeSeq PATH Assay may not provide the anticipated benefits to our customers or that our customers may not use the HTG EdgeSeq PATH Assay to advance anticipated types of clinical research, risks associated with the process of developing and commercializing our products, our ability to achieve and sustain sufficient market acceptance, and the capabilities of our products to keep pace with rapidly changing technology and customer requirements. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission, including without limitation our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contact: Westwicke Partners Jamar Ismail Phone: 415-513-1282 Email: [email protected] TJ Johnson President / CEO HTG Molecular Diagnostics Phone: 520-547-2827 x130 Email: [email protected]
