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TUCSON, Ariz., Oct. 15, 2019 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a diagnostic company whose mission is to advance precision medicine, today announced it will begin taking orders for its new 2,002-gene HTG EdgeSeq Autoimmune Panel, which is expected to be commercially available for purchase in kit form or as a service in HTG’s VERI/O laboratory at the end of October 2019. The HTG EdgeSeq Autoimmune Panel provides a comprehensive look into immune system dysfunction, discovery of new biomarkers and the discovery of predictive signatures of drug response in the autoimmune space. The panel is designed to address many questions around autoimmune disorders, which are chronic and often difficult to accurately diagnose. Autoimmune disorders represent a large and growing market, with annual direct U.S. healthcare costs for the treatment of autoimmune disorders being nearly double the direct U.S. healthcare costs for the treatment of cancer, and several of the largest selling pharmaceutical products are targeted towards autoimmune diseases.
“Autoimmune disorders represent a growing market, and we have seen significant interest and strong demand from our pharmaceutical customers for comprehensive, molecular profiling tools spanning the continuum of customers’ development programs, from biomarker discovery to companion diagnostic development,” said Michael Hrubiak, Vice President of Marketing at HTG. “While there are treatments for many autoimmune diseases, our goal is to provide better tools for more effective diagnosis, to enable better treatment of patients afflicted with these disorders. We believe our autoimmune panel is one more step forward towards achieving that goal, and we are excited to be part of the solution.”
HTG is focused on NGS-based molecular profiling. The company’s proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples, even when limited in amount. HTG’s customers use its technology to identify biomarkers important for precision medicine, to understand the clinical relevance of these discoveries, and ultimately to identify treatment options. Our mission is to empower precision medicine at the local level.
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 regarding the expected timing for the commercial availability of the HTG EdgeSeq Autoimmune Panel and the expected benefits the HTG EdgeSeq Autoimmune Panel will provide to our customers. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, although 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 our HTG EdgeSeq assays may not provide the expected benefits; risks associated with our ability to successfully launch and commercialize our products and services; the risk that our products and services may not be adopted by pharmaceutical companies or other customers as anticipated, or at all; our ability to manufacture our products to meet demand; the level and availability of third party payor reimbursement for our products; our ability to effectively manage our anticipated growth; our ability to protect our intellectual property rights and proprietary technologies; our ability to operate our business without infringing the intellectual property rights and proprietary technology of third parties; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; and product liability claims. 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 June 30, 2019. 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.
Ashley R. Robinson
LifeSci Advisors, LLC
Phone: (617) 535-7742