31 Jul. 2019
Fort Myers, FL. and Wilmington, NC. (July 31, 2019) – NeoGenomics, Inc. (NASDAQ: NEO), a leading provider of cancer-focused genetics testing services, and Pharmaceutical Product Development, LLC (PPD), a leading global contract research organization (CRO), announced the grand opening of a NeoGenomics oncology-focused clinical trials testing lab in the same building as the PPD® Laboratories central lab in Singapore.
NeoGenomics’ Pharmaceutical Services Division has established a track record of rapid growth and is building a global network for clinical trials. After opening and operating a College of American Pathologists (CAP) accredited facility in Rolle, Switzerland since 2017 to service European clinical trials, NeoGenomics prioritized additional expansion into Singapore to service the Asia-Pacific region and allow for global clinical trial placement. NeoGenomics Chairman and Chief Executive Officer, Doug VanOort noted, “Our customers in the Pharmaceutical Services Division are truly global customers who want the ability to place studies wherever they can find the enrollees. They are looking to partner with laboratories that provide great service and high quality, consistent testing across the globe. We’re very excited about our Singapore laboratory and the potential growth opportunity we see within the Asia-Pacific region. This is another milestone in our plan to be a premier global provider of services to the pharmaceutical industry.”
NeoGenomics and PPD formed an alliance in 2018 to provide premier laboratory testing solutions for oncology clinical trials and biomarker research and development. Through the collaboration, NeoGenomics provides a wide range of lab testing services to support PPD Laboratories’ oncology clinical trial activities in North America, Europe and Asia-Pacific. This expansion in Singapore is part of the companies’ established plan to invest in PPD’s existing labs service offerings in China and Singapore. It also augments PPD Laboratories’ offerings of specialized oncology and pathology biomarker testing for biopharmaceutical customers and advances the companies’ initiative to provide an integrated, global solution for complex development programs.
“This expansion of our collaboration with NeoGenomics in Singapore is a critical step in enhancing our pathology and molecular capabilities in the Asia-Pacific region, one of the fastest-growing areas of the world for clinical trials,” said Christopher Fikry, M.D., executive vice president of PPD Laboratories. “Our pharmaceutical and biotech customers who are increasing their clinical trial investments in Asia can depend on us to provide one of the industry’s most comprehensive sets of labs services where they have the greatest need. We look forward to further strengthening our alliance with NeoGenomics and jointly supporting global and regional oncology trials.”
Fully integrated with PPD’s CRO capabilities, PPD Laboratories offers bioanalytical, biomarkers, central lab, GMP and vaccine sciences. NeoGenomics provides one of the most extensive oncology and biomarker-focused testing portfolios in the world to support physicians in the diagnosis and treatment of cancer and to serve pharmaceutical clients in clinical trials and drug development.
Douglas VanOort added, “Our mutual clients are excited about NeoGenomics having the capability to handle testing for their study enrollees across the globe. We are thrilled to expand our collaboration with PPD by providing clients with even greater access to our leading scientific and clinical professionals, as well as best-in-class oncology testing.”
About NeoGenomics, Inc.
NeoGenomics, Inc. specializes in cancer genetics testing and information services. The Company provides one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. The Company’s Pharma Services division serves pharmaceutical clients in clinical trials and drug development.
Headquartered in Fort Myers, FL, NeoGenomics operates CAP-accredited and CLIA-certified laboratories in Ft. Myers and Tampa, Florida; Aliso Viejo, Carlsbad and Fresno California; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; Rolle, Switzerland; and Singapore. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, and managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia. For additional information about NeoGenomics, visit www.neogenomics.com.
PPD is a leading global contract research organization providing comprehensive, integrated drug development, laboratory and lifecycle management services. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 48 countries and more than 21,000 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a firm commitment to quality to help clients and partners bend the cost and time curve of drug development and optimize value in delivering life-changing therapies to improve health. For more information, visit www.ppdi.com.
Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward-looking statements as the result of NeoGenomics’ ability to continue gaining new customers, offer new types of tests, integrate its acquisition of the Genoptix business and otherwise implement its business plan, as well as additional factors discussed under the heading “Risk Factors” and elsewhere in NeoGenomics’ Annual Report on Form 10-K filed with the SEC on February 26, 2019, amended by a 10K/A filed with the SEC on May 8, 2019. As a result, this press release should be read in conjunction with NeoGenomics’ periodic filings with the SEC. In addition, it is NeoGenomics’ practice to make information about the Company available by posting copies of its Company Overview Presentation from time to time on the Investor Relations section of its website at ir.neogenomics.com.
Forward-looking statements represent NeoGenomics’ estimates only as of the date such statements are made (unless another date is indicated) and should not be relied upon as representing the Company’s estimates as of any subsequent date. While NeoGenomics may elect to update forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if its estimates change.
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