Helomics Announces Second Phase of Realignment Towards a Research and Clinical Products Company in P
Helomics® Corporation, a privately-held, personalized healthcare company that provides comprehensive tumor profiling utilizing proprietary live cell and fixed cell products and services, announced today the start of a second phase of corporate realignment towards becoming an integrated clinical research and clinical products company. During this restructuring the laboratory operations at Helomics, including the processing of its ChemoFx, GeneFX, BioSpeciFx, CellFx and DEFENDER tumor profiling tests, will continue at full capacity.
As part of this second realignment phase, Helomics will restructure its R&D, operations, and sales and marketing to refocus its efforts on the central buying and decision-making processes of Medicare, Commercial Payer’s and hospital systems. To reflect this realignment, a reduction-in-force was also completed, primarily sales professionals calling on individual oncologists.
This strategic shift was brought on primarily by changes resulting from the Affordable Care Act (ACA), which have made cost the sole driver for healthcare decision-making, to the determent of new technologies and diagnostics in the personalized medicine arena. Due to this, the decision-making process for the utilization of new technologies has shifted into a more centralized process.
In parallel, Helomics is forming a new research products division that will focus on the pharmaceutical, biotech and clinical research sectors. The company’s clinical products business will also be restructured into a new division focused on advanced lab developed tests (ALDT) and preparation for products in the FDA diagnostics markets as the regulatory oversight begins to shift in the personalized medicine marketplace.
Neil J. Campbell, President & CEO of Helomics, said, “Helomics’ objective in this second phase of realignment is to provide an even greater focus on leveraging our comprehensive tumor profiling technologies and expertise, and aligning our resources to best serve the current Payer environment is critical at this stage. Comprehensive tumor profiling through PCAP™ done properly will focus on the life cycle of the patients’ tumor during all stages such as cell oncogenesis, proliferation, metastasis, apoptotic cascade. Helomics’ broad set of proprietary platforms and products can provide an in depth understanding of tumor biology and the effects pharmaceutical and immunotherapeutic interventions can have on the personalized treatments of patients.”
To access a CEO letter from Neil Campbell discussing this second phase of realignment further, please visit http://helomics.com/company/letterfromceo
The PCAP™ platform is the basis of Helomics’ comprehensive tumor profiling capability. The platform consists of a suite of technologies for the live and fixed cell analysis of changes in a tumor’s gene regulation, protein expression, and cellular morphology over time. The PCAP™ platform has spawned new products that can elucidate tumor biology characterization with therapeutic mechanisms of action to highlight drug treatment options based upon the holistic tumor characterization instead of cell sensitivities only.
About Helomics® Corporation, Inc.
Helomics® is a comprehensive personalized healthcare company, bringing the next generation of diagnostics to the oncology field. Helomics is dedicated to improving patient outcomes by providing a personalized comprehensive tumor profile utilizing a proprietary set of laboratory platforms that leverage both live and fixed cellular based analysis allowing physicians to characterize malignant tumors on a personalized basis. Helomics’ novel molecular and cellular markers and bioinformatics services support mechanistic tumor characterization and treatment decisions by providing vital information based on the specific biological processes of each individual’s cancer. Helomics is headquartered in Pittsburgh, Pennsylvania where the company maintains two CLIA-certified laboratories. For more information please visit: www.helomics.com.
This release may contain forward-looking statements that involve risks and uncertainties. Market conditions and other important factors could cause actual results to differ materially from those communicated in any forward-looking statements, information disclosed in presentations, conference calls or other public venues. We do not intend to update any forward-looking statements after the date of this press release.