SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--
Veracyte, Inc. (NASDAQ: VCYT) announced that Giulia C. Kennedy, Ph.D., chief science and medical officer, will present at the Precision Medicine World Conference (PMWC) regarding the company’s use of machine learning to translate massive volumes of genomic data into commercial diagnostic tests that gain adoption and reimbursement. The PMWC is being held January 22-24 at the Computer History Museum in Mountain View, Calif.
“Advances in next-generation sequencing have created huge amounts of genomic data, which offer the promise of solving difficult clinical questions,” said Dr. Kennedy. “The challenge for diagnostics companies lies in developing machine learning algorithms that can harness this data and realize its potential to have a real and meaningful impact on patient care.”
Veracyte has pioneered the use of machine learning to develop three commercially available genomic tests that are changing patient care in the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis. The company’s flagship Afirma classifier, launched in 2011, uses “ensemble” machine learning methods and has become a new standard of care in thyroid cancer diagnosis where it is covered by Medicare and all leading private health insurers in the United States. Veracyte’s Percepta classifier is the first genomic test to obtain Medicare coverage to increase the safety and effectiveness of lung cancer screening and diagnosis. The company’s Envisia classifier is the first commercially available genomic test designed to improve the diagnosis of idiopathic pulmonary fibrosis.
Presentation Details:
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Title: |
Bringing in the Machines: When Answering Important Clinical Questions Requires Both Big Data and Big Algorithms | ||||||
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Session: |
Clinical Diagnostics Showcase | ||||||
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Date/Time: |
Tuesday, Jan. 23, 2:30 p.m. PT | ||||||
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 the use of the Envisia classifier to enable diagnosis of idiopathic pulmonary fibrosis, without the need for invasive, risky and costly surgical procedure; Envisia's ability to further give physicians confidence in using our test in lieu of surgery; and Envisia'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: benefits of our tests, the applicability of clinical results to actual outcomes; laws and regulations applicable to our business, including potential regulation by the Food and Drug Administration or other regulatory bodies; 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 the company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2017. 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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