ATLANTA and LA JOLLA, Calif., Dec. 15, 2021 /PRNewswire/ -- BioIQ, Inc., ("BioIQ") an analytics-driven population health and testing platform company for top employers, health plans, and government agencies, and DermTech, Inc. (NASDAQ: DMTK) ("DermTech"), a leader in precision dermatology enabled by a non-invasive skin genomics platform, today announced an agreement to bring increased patient access to precision genomics. The DermTech Melanoma Test is now included in BioIQ's lineup of testing options for employee and member health programs. The program will be available in Florida initially with planned expansion to other states.
Skin cancer is the most prevalent cancer in the U.S., with melanoma being the deadliest form. The survival rate of individuals with melanoma is significantly higher when the cancer is detected early. Unfortunately, the current pathway for ruling out melanoma can be costly, invasive, and inconvenient, requiring an on-site biopsy at a medical facility followed by pathology evaluation to determine if cancerous cells are present. In addition, the COVID-19 pandemic has caused record numbers of Americans to delay or avoid medical care, including preventive screenings for cancer and other diseases. The consequences of deferring medical care can cause serious financial and health implications, leading to higher health care costs for employers and health plans, and unhealthier outcomes for many patients.1
The agreement between DermTech and BioIQ will allow employers and health plans to drive more convenient access to independent, board-certified dermatologists to assess suspicious skin spots or moles. In addition, the dermatologist can order testing for melanoma using convenient, non-invasive skin sample collection. Members complete an intake process for melanoma risk assessment in the BioIQ Platform, where at-risk patients are flagged for follow up. Through DermTech's telemedicine platform –DermTech ConnectTM, individuals can take photos of a suspicious mole and be connected with a board-certified dermatologist who determines next steps and recommended clinical services. If warranted, the dermatologist can order the DermTech Melanoma Test, beginning with a sample collection kit, which includes the revolutionary DermTech Smart Sticker™, being sent to the patient's home where collection is conducted with support of clinical staff. Diagnosis and further treatment recommendations are based on the dermatologist's medical judgment and individual's test results where applicable.
"We're thrilled to work with BioIQ to help in the fight to catch melanoma early by arming employers and health plans with a platform for teledermatology and access to a convenient, accurate and non-invasive precision genomic test," said Dan Visage, SVP, Payer Access with DermTech. "The DermTech Connect platform makes it easier for a patient to connect to a dermatologist. And the DermTech Melanoma Test improves the testing experience for both patients and providers. For a patient, it's convenient and pain-free, and a skin sample can be collected in the comfort of their home. For providers, it provides a useful tool for assessing potentially melanocytic moles, while also reducing employer and health plan costs."
"DermTech is a natural fit for our suite of population health testing solutions as both of our organizations look to improve population health for employers, health plans, and government entities, especially amidst this challenging time in which important care has been delayed or avoided," said BioIQ Founder, President, and CEO, Justin Bellante. "The DermTech Melanoma Test is revolutionizing precision genomics for melanoma, making it less invasive and more convenient than ever for patients to access precision genomics testing for one of the most prevalent cancers in the U.S."
To learn more about BioIQ's end-to-end technology platform for population health testing, screening, and vaccination access programs, including COVID-19 solutions, visit https://www.bioiq.com/platform/.
To learn more about DermTech, visit https://dermtech.com/.
BioIQ is modernizing the diagnostic testing industry through a national network of labs and customized solutions that support payors, employers, and consumers. By aggregating testing solutions, optimizing lab capacity, and integrating testing with customers' needs and strategies, BioIQ ensures resilience and reliability so that employers and payors can protect workforces and members. With its first-of-its-kind health connectivity platform, BioIQ is uniquely positioned at the convergence of population health and the consumerization and retailization of healthcare to drive the shift to value-based care for payers and employers. Since 2005, BioIQ has launched thousands of successful health testing programs serving millions of participants.
LetsGetChecked, a leading healthcare solutions company, recently announced its intent to acquire BioIQ. LetsGetChecked's vertically integrated telehealth, at-home diagnostics and pharmacy solution will enable BioIQ to expand delivery of resilient and timely testing strategies. For more information, visit www.bioiq.com.
DermTech is a leading genomics company in dermatology and is creating a new category of medicine, precision dermatology, enabled by our non-invasive skin genomics platform. DermTech's mission is to transform dermatology with our non-invasive skin genomics platform, to democratize access to high quality dermatology care, and to improve the lives of millions. DermTech provides genomic analysis of skin samples collected non-invasively using an adhesive patch rather than a scalpel. DermTech markets and develops products that facilitate the early detection of skin cancers and is developing products that assess inflammatory diseases and customize drug treatments. For additional information on DermTech, please visit DermTech's investor relations site at: www.dermtech.com.
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of DermTech and BioIQ may differ from their actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements, evaluations and judgments with respect to: the performance, patient benefits, cost–effectiveness, commercialization and adoption of DermTech's or BioIQ's products and services and the market opportunity therefor, including The DermTech Melanoma Test, DermTech's telemedicine platform and the agreement between DermTech and BioIQ. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the control of DermTech or BioIQ and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against DermTech; (2) DermTech's ability to obtain additional funding to develop and market its products; (3) the existence of favorable or unfavorable clinical guidelines for DermTech's tests; (4) the reimbursement of DermTech's tests by Medicare and private payors; (5) the ability of patients or healthcare providers to obtain coverage of or sufficient reimbursement for DermTech's products; (6) DermTech's ability to grow, manage growth and retain its key employees; (7) changes in applicable laws or regulations; (8) the market adoption and demand for DermTech's products and services together with the possibility that DermTech may be adversely affected by other economic, business, and/or competitive factors; and (9) other risks and uncertainties included in (x) the "Risk Factors" section of the most recent Quarterly Report on Form 10-Q filed by DermTech with the Securities and Exchange Commission (the "SEC"), and (y) other documents filed or to be filed by DermTech with the SEC. You are cautioned that the foregoing list of factors is not exclusive. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither DermTech nor BioIQ undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based.
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