Agreement Leverages Veracyte’s New Afirma Xpression Atlas Platform
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Apr. 11, 2018--
Veracyte,
Inc. (Nasdaq: VCYT) today announced a research collaboration through
which Loxo Oncology will access Veracyte’s new Afirma®
Xpression Atlas platform to advance its development of highly selective
medicines for patients with genetically defined cancers, including
thyroid cancer.
Through the new agreement, Veracyte will use its Afirma Xpression Atlas
platform to provide Loxo Oncology with information regarding thyroid
cancers with TRK fusions and RET alterations, for use in developing its
targeted cancer therapies. The RNA sequencing-based Afirma Xpression
Atlas is an extension of Veracyte’s Afirma Genomic Sequencing Classifier
(GSC), which is widely used in thyroid cancer diagnosis. Financial and
other terms of the agreement were not disclosed.
“We are pleased to be collaborating with Loxo Oncology, a leader in the
development of therapies that target specific gene abnormalities to
treat cancer,” said Bonnie Anderson, Veracyte’s chairman and chief
executive officer. “We believe this agreement underscores the value that
our Afirma Xpression Atlas platform – with its ability to extract rich
genomic data from thyroid samples – and our leadership in thyroid cancer
diagnosis may provide in helping to realize the potential of precision
medicine.”
The Afirma Xpression Atlas utilizes RNA transcriptome sequencing to
measure previously undetectable genomic information that may be
predictive of thyroid cancer, including gene expression, 761 DNA
variants and 130 RNA fusions, in over 500 genes. With its Afirma genomic
classifier, Veracyte has performed more than 100,000 genomic tests to
evaluate potentially cancerous thyroid nodules and the company estimates
it has helped more than 40,000 patients avoid unnecessary diagnostic
surgery to date.
“We are committed to developing therapies for patients whose cancers are
driven by specific genetic alterations,” said Jacob Van Naarden, chief
business officer of Loxo Oncology. “Veracyte’s extensive database of
genomic information related to thyroid cancer will provide useful
insights as we continue to advance our pipeline.”
About Afirma
The Afirma Genomic Sequencing Classifier combines RNA sequencing data
with machine learning to identify patients with benign thyroid nodules
among those with indeterminate cytopathology results in order to
preserve the thyroid. Since the commercial introduction of Afirma in
2011, Veracyte has performed over 100,000 genomic tests, and estimates
it has saved more than 40,000 patients from unnecessary thyroid surgery
and removed an estimated $800 million in surgery costs from the
healthcare system. The Afirma classifier is included in most leading
clinical guidelines and is covered as medically necessary by Medicare
and all of the major U.S. health plans. The Afirma Xpression Atlas is
the company’s platform for using RNA sequencing to extract extensive
genomic data – including gene expression, variants and fusions – from
thyroid cytology samples.
About Veracyte
Veracyte (Nasdaq: VCYT) is a leading genomic diagnostics company that is
providing trustworthy and actionable answers that fundamentally improve
patient care when current diagnostic tests are uncertain. The company's
products uniquely combine genomic technology, clinical science and
machine learning to provide answers that give physicians and patients a
clear path forward without risky, costly surgery that is often
unnecessary. Since its founding in 2008, Veracyte has commercialized
three genomic tests, which are transforming the diagnosis of thyroid
cancer, lung cancer and idiopathic pulmonary fibrosis and collectively
target a $2 billion market opportunity. Veracyte is based in South San
Francisco, California. For more information, please visit www.veracyte.com
and follow the company on Twitter (@veracyte).
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words such as:
"anticipate," "intend," "plan," "expect," "believe," "should," "may,"
"will" and similar references to future periods. Examples of
forward-looking statements include, among others, our belief that our
collaboration with Loxo Oncology will facilitate Loxo Oncology’s
development of therapies for patients whose cancers are driven by
specific genetic alterations; our expectations about the performance of
the Afirma Xpression Atlas platform; and Afirma’s ability to
significantly improve patient care and reduce healthcare costs.
Forward-looking statements are neither historical facts nor assurances
of future performance. Instead, they are based only on our current
beliefs, expectations and assumptions regarding the future of our
business, future plans and strategies, anticipated events and trends,
the economy and other future conditions. Forward-looking statements
involve risks and uncertainties, which could cause actual results to
differ materially, and reported results should not be considered as an
indication of future performance. These risks and uncertainties include,
but are not limited to: the benefits of our tests, the applicability of
clinical results to actual outcomes; the laws and regulations applicable
to our business, including potential regulation by the Food and Drug
Administration or other regulatory bodies; our ability to sell our
Afirma tests and successfully transition to our next-generation Afirma
GSC; our ability to successfully achieve and maintain adoption of and
reimbursement for our products; the amount by which use of our products
are able to reduce invasive procedures and misdiagnosis, and reduce
healthcare costs; the occurrence and outcomes of clinical studies; and
other risks set forth in our filings with the Securities and Exchange
Commission, including the risks set forth in our annual report on Form
10-K for the year ended December 31, 2017, and our other filings with
the SEC, including our quarterly reports on Form 10-Q and current
reports on Form 8-K. These forward-looking statements speak only as of
the date hereof and Veracyte specifically disclaims any obligation to
update these forward-looking statements or reasons why actual results
might differ, whether as a result of new information, future events or
otherwise, except as required by law.
Veracyte, Afirma, Percepta, Envisia, the Veracyte logo, and the Afirma
logo are trademarks of Veracyte, Inc.
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Source: Veracyte, Inc.
Veracyte, Inc.
Media:
Tracy Morris, 650-380-4413
tracy.morris@veracyte.com
or
Investors:
Keith
Kennedy, 650-243-6357
Chief Financial Officer
keith@veracyte.com