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Prostatype Genomics reaches important commercial breakthrough by initiating billing for Prostatype® to insurance companies in the USA
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
Prostatype Genomics AB (“Prostatype Genomics” or the “Company”) has reached an important commercial milestone in the USA by immediately starting to bill Prostatype® to several insurance companies. Prostatype® has since Q2 2024 been in clinical use among several leading urologists in the USA to build clinical experience of the product and since the American insurance market for patients consists of hundreds of insurance companies of varying sizes, Prostatype Genomics’ revenues in the USA will not come from just one single insurer. Prostatype Genomics can today announce that the Company has reached an important commercial milestone in the USA by immediately starting to bill Prostatype® to several insurance companies.
The work to build clinical experience of Prostatype® among urologists in the USA is a work that has been – and is – ongoing in parallel with the Company’s reimbursement application to the single largest insurer in the USA, Medicare. The Company continues to maintain a constructive dialogue with Medicare regarding its reimbursement application, whereby the Company continuously receives questions from Medicare regarding Prostatype®, which are also continuously answered. As previously communicated, the Company expects to obtain reimbursement approval from Medicare within the calendar year 2025 which would then also trigger the billing for Medicare-covered patients.
Fredrik Rickman, CEO of Prostatype Genomics, comments:
“We are following the plan and process previously communicated regarding the importance of step by step building presence and commercial infrastructure for Prostatype® in USA. Ensuring that selected leading urologists have had the opportunity to evaluate Prostatype® and build their clinical experience is a decisive step in the commercial process, and we have now reached the point where Prostatype® is in routine clinical use in several locations. The experiences of Prostatype® in the USA continue to be positive, which of course is a fundamental prerequisite for moving forward. We have now reached this next step in our commercial process and are starting to bill several of the private insurance companies connected to patients already tested for, as well as future patients diagnosed with prostate cancer. Naturally, we have worked on these processes in parallel with our Medicare application, which is still ongoing and which reimbursement approval is still our primary goal.
The basis for being able to take this step is that the Company, as previously communicated, have a well-established collaboration with an accredited laboratory partner, the necessary sales licenses and permits in place as well as an existing partnership with an external partner to enable billing of American insurance companies for the use of Prostatype®. We are very well positioned and remain confident in our commercial plan for the USA, and we are pleased to have now reached this important milestone, which also further reduces commercial risk. We look forward with confidence to the upcoming developments in the USA.”
For more information, please contact:
Fredrik Rickman, CEO Prostatype Genomics AB
Phone: +46 73 049 77 01
Email: fredrik.rickman@prostatypegenomics.com
CERTIFIED ADVISOR
The Company’s Certified Adviser is Tapper Partners AB.
Phone: +46 (0)70 44 010 98
E-mail: ca@tapperpartners.se
About Prostatype Genomics AB
Prostatype® is a genetic test available to patients and treating urologists as a complementary decision-making tool when considering treatment or non-treatment of prostate cancer. The test was developed by a research group at Karolinska Institutet and is provided by Prostatype Genomics AB.