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Precipio Announces New 1-Step Technology for All HemeScreens

NEW HAVEN, Conn., Aug. 16, 2022 (GLOBE NEWSWIRE) — Specialist Cancer Diagnostics Company Prereo Co., Ltd. (Nasdaq: PRPO)announces the launch of its 2nd generation HemeScreen panel. Precipio customers using his HemeScreen in their labs can choose to upgrade to a 1-step assay or continue with their current assay.

The first generation panels required a two-step process with a positive confirmation step, but the new version no longer requires this step. This means that both positive and negative results can be reached if the assay run is completed within approximately 3 hours.

Simplifying the process does more than reduce turnaround time (TAT) to deliver results to clinicians. It also reduces the work required by lab technicians to complete assays by approximately 25%, saving lab time and money. Based on prior discussions with most of our customers, they plan to upgrade to newer versions of our products.

The new version of the assay has been extensively tested and validated in Precipio’s R&D facility. Over the past few months, Precipio’s CLIA/CAP accredited labs have been using Precipio clinically and have accumulated substantial data demonstrating its clinical and operational utility. The product department now plans to release this update to his HemeScreen customers.

Keith Meadors, senior vice president of products at Precipio, said: “Our model of using our clinical laboratory to develop new technology, test it in the clinical laboratory, and then launch it as a product that other laboratories will benefit from is very attractive to our customers. We are excited to work with our R&D department to deliver products that enable our customers to provide the best possible care for their cancer patients.”

About Precipio

Precipio Inc. is a healthcare company focused on cancer diagnostics. Our mission is to address the pervasive problem of cancer misdiagnosis by developing products that mitigate the root causes of this problem in the form of diagnostic products, reagents and services. Industry research estimates that one in five of her blood cancer patients is misdiagnosed. As cancer diagnostic tests evolve from cells to molecules (genes and exons), clinical testing becomes extremely complex, requiring physicians to effectively collect, analyze, and present information to treat patients. High diagnostic accuracy is required. Precipio has built a robust specialty cancer diagnostic platform that enables the rapid development of unique, highly differentiated clinical diagnostic products, providing laboratories around the world with superior clinical, operational and economic benefits. bring real benefits. By providing diagnostic products, reagents and services that improve diagnostic accuracy and efficiency and reduce misdiagnosis, we believe that choosing the right treatment option can improve patient outcomes. Additionally, we believe that improved patient outcomes will reduce/reduce healthcare costs due to fewer misdiagnoses.

For more information, see: www.precipiodx.com.

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Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. or the potential impact of the novel coronavirus (COVID-19) pandemic and related governmental, consumer and corporate responses to our business, financial condition and results of operations, and any such future impact; forward-looking statements. The COVID-19 pandemic or otherwise involves risks, assumptions and uncertainties. Future volume, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flows, plans, objectives, expectations, growth or profitability, other than historical information. Statements are based on forward-looking statements. Management’s estimates, beliefs, assumptions and projections. “can”, “may”, “expect”, “predict”, “will”, “goal”, “goal”, “project”, “intend”, “plan”, “believe”, “Seek,” “estimate,” “predict,” and variations of such words and similar expressions that reflect our current view of future events and operational, economic and financial It is intended to identify forward-looking statements. These forward-looking statements are predictions only and are subject to risks and uncertainties. Actual results may differ materially from those described here. Significant factors that may affect our performance, which may cause results to differ materially from management’s expectations, or which may affect the company’s ability to achieve its strategic objectives, include COVID-19. Includes uncertainties regarding the impact on the company’s business, operations, employees, etc. Factors described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Exchange Commission filings.

Our forward-looking statements in this press release are based on management’s current views, beliefs, assumptions and expectations regarding future events and speak only as of the date of this release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws.


        

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