Sequenom Laboratories Announces Second National Coverage Agreement For Prenatal Diagnostic Testing Services
SAN DIEGO, Jan, 9, 2014 /PRNewswire/ -- Sequenom, Inc. (NASDAQ: SQNM), a life sciences company providing innovative testing and genetic analysis solutions, announced today its wholly owned subsidiary, Sequenom Laboratories, has signed a national agreement with a leading benefits provider, to provide coverage for the MaterniT21™ PLUS laboratory-developed test (LDT). The addition of this contract brings the number of covered lives under agreement by Sequenom Laboratories' diagnostic services to more than 113 million.
"We are excited to be working with an additional national payor to provide coverage for the MaterniT21 PLUS test. We believe this coverage will provide health care providers and their patients greater access to our market-leading noninvasive prenatal test for pregnant women at increased risk for fetal chromosome abnormalities," said William Welch, President and COO, Sequenom. "This agreement is an extension of Sequenom Laboratories' goal to provide broader coverage and availability for its testing services within the US."
The MaterniT21 PLUS test analyzes the relative amount of 21, 18, 13, as well as X and Y chromosomal material in cell-free DNA. The test also reports additional findings for the presence of subchromosomal microdeletions and duplications which complement the MaterniT21 PLUS test core findings. The test is intended for use in pregnant women at increased risk for fetal chromosomal abnormalities and is indicated for use as early as 10 weeks' gestation. Estimates suggest there are about 750,000 pregnancies at high risk for fetal chromosomal abnormalities each year in the United States.
The MaterniT21 PLUS test is available exclusively through Sequenom Laboratories as a testing service provided to health care professionals. To learn more about the test, please visit www.laboratories.sequenom.com.
Sequenom, Inc. (NASDAQ: SQNM) is a life sciences company committed to improving healthcare through revolutionary genomic and genetic analysis solutions. Sequenom Bioscience develops innovative technology, products and tests that target and serve discovery and clinical research, and molecular diagnostic markets. The company was founded in 1994 and is headquartered in San Diego, California. Sequenom maintains a Web site at http://www.sequenom.com to which Sequenom regularly posts copies of its press releases as well as additional information about Sequenom. Interested persons can subscribe on the Sequenom Web site to email alerts or RSS feeds that are sent automatically when Sequenom issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the Web site.
About Sequenom Laboratories
Sequenom Laboratories, a CAP accredited and CLIA-certified molecular diagnostics laboratory, has developed a broad range of laboratory-developed tests, with a focus on prenatal and ophthalmological diseases and conditions. Branded under the names SensiGene™, MaterniT21™ PLUS, HerediT™, NextView™ and RetnaGene™, these molecular genetic laboratory-developed tests provide early patient management information for obstetricians, geneticists, maternal fetal medicine specialists and ophthalmologists. Sequenom Laboratories is changing the landscape in genetic disorder diagnostics using proprietary cutting edge technologies.
SEQUENOM®, MaterniT21™ PLUS, SensiGene™, HerediT™, NextView™ and RetnaGene™ are trademarks of Sequenom, Inc. All other trademarks and service marks are the property of their respective owners.
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding Sequenom's (including Sequenom, Inc. and Sequenom Laboratories) expectations regarding performance under, or the benefits or impact of the national payor agreement on Sequenom, patients, and health care providers, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with reliance upon the collaborative efforts of the national payor, Sequenom's ability to develop and commercialize new technologies and products, particularly new technologies such as prenatal and other diagnostics and laboratory developed tests, Sequenom's ability to manage its existing cash resources or raise additional cash resources, competition, intellectual property protection and intellectual property rights of others, government regulation particularly with respect to diagnostic products and laboratory-developed tests, obtaining or maintaining regulatory approvals, ongoing litigation including patent litigation, and other risks detailed from time to time in Sequenom, Inc.'s most recent Quarterly and Annual Reports on Securities and Exchange Commission Forms 10-Q and 10-K, respectively, and other documents subsequently filed with or furnished to the Securities and Exchange Commission. These forward-looking statements are based on current information that may change and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Sequenom undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
SOURCE Sequenom, Inc.