February 06, 2024 08:00 ET
Hi-Precision Laboratories, one of the largest medical laboratories in the Philippines, signs a 5-year OvaSuitSM commercial distribution agreement
AUSTIN, Texas, Feb. 06, 2024 (GLOBE NEWSWIRE) — Aspira Women’s Health Inc. (“Aspira” or “the Company”) (Nasdaq: AWH), a bio-analytical based women’s health company focused on the development of gynecologic disease diagnostic tools, today announced the signing of a 5-year distribution agreement granting Hi-Precision Laboratories the exclusive right to market and distribute the OvaSuiteSM portfolio in the Philippines. The commercialization of OvaSuite products in the Philippines will commence upon receiving approval from the local regulatory authority. In consideration of the licenses and rights granted by Aspira, Hi-Precision Laboratories will pay royalties to Aspira for each test performed in the Philippines.
“We are thrilled to partner with one of the largest medical laboratories in the Philippines, an important step towards achieving our goal to make OvaSuite available worldwide,” said Nicole Sandford, President and Chief Executive Officer of Aspira. “Moreover, the Clinical Performance of a Multivariate Index Assay in Detecting Early-Stage Ovarian Cancer in Filipino Women study clearly demonstrated improvements in the detection of early-stage ovarian cancers when an Aspira test was incorporated in the clinical assessment of women presenting with an ovarian mass.”
Vannessa Ongsue, Vice President, Medical Services at Hi-Precision Laboratories stated, “Hi-Precision is excited to make the OvaSuite portfolio available to women and clinicians in the Philippines as research has suggested that women in the Philippines have a higher risk of ovarian cancer than in other parts of the world. Aspira’s blood tests are very valuable tools for clinicians that will lead to a higher standard of care for women in the Philippines.”
Hi-Precision Laboratories, the largest medical laboratory in the Philippines, provides a wide array of services from routine to esoteric specialty tests and is internationally certified and accredited by the Philippine Accreditation Bureau. With branches nationwide, Hi-Precision Laboratories conducted 79 million tests between 2014 and 2022 and has consistently received recognition as a top-quality service provider in the Philippines.
About Aspira Women’s Health Inc.
Aspira Women’s Health Inc. is dedicated to the discovery, development, and commercialization of noninvasive, AI-powered tests to aid in the diagnosis of gynecologic diseases.
OvaWatchSM and Ova1Plus® are offered to clinicians as OvaSuiteSM. Together, they provide the only comprehensive portfolio of blood tests to aid in the detection of ovarian cancer for the 1.2+ million American women diagnosed with an adnexal mass each year. OvaWatch provides a negative predictive value of 99% and is used to assess ovarian cancer risk for women where initial clinical assessment indicates the mass is indeterminate or benign, and thus surgery may be premature or unnecessary. Ova1Plus is comprised of two FDA-cleared tests, Ova1® and Overa®, to assess the risk of ovarian malignancy in women planned for surgery.
Our in-development test pipeline is designed to expand our ovarian cancer portfolio and addresses the tremendous need for noninvasive diagnostics for endometriosis, a debilitating disease that impacts millions of women worldwide. In ovarian cancer, our OvaMDx test is designed to combine microRNA and protein biomarkers with patient data to further enhance the sensitivity and specificity of our current tests. In endometriosis, EndoCheckSM is the first-ever noninvasive test designed to identify endometriomas, one of the most commonly occurring forms of endometriosis. The EndoMDxSM test is designed to combine microRNA and protein biomarkers with patient data to identify all endometriosis.
This press release may contain forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including those relating to the timing and completion of any products in the pipeline development that are predictive in nature. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as “designed to,” “expect,” “plan,” “anticipate,” “could,” “may,” “intend,” “will,” “continue,” “future,” other words of similar meaning and the use of future dates. Forward-looking statements in this press release and other factors that may cause such differences include the satisfaction of customary closing conditions related to the offering and the expected timing of the closing of the offering. These and additional risks and uncertainties are described more fully in the company’s filings with the SEC, including those factors identified as “risk factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law.
Investor Relations Contact:
Torsten Hombeck, Ph.D.
Chief Financial Officer
Aspira Women’s Health