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Pittsburgh, March 19, 2019 (GLOBE NEWSWIRE) -- Ariel Precision Medicine, Inc., a privately held, clinically integrated, genomics and health technology company developing innovative solutions for complex chronic disease, announced receipt of Life Sciences PA’s Emerging Company of the Year Award during their Annual Dinner with over 1,300 attendees recognizing organizations that have shaped the life sciences industry. Life Sciences PA, an industry organization dedicated to advancing Pennsylvania’s diverse life sciences landscape, selected Ariel based on the company’s significant accomplishments in 2018. In their selection of Ariel, Life Sciences PA noted the company’s 600% increase in revenue year-over-year, and a 500% increase in the number of employees.
“Our impressive growth rate was fueled in part by the 2018 launch of ArielDx®, our flagship diagnostic and treatment tool for pancreatic diseases,” explained Jessica Gibson, chief executive officer and co-founder of Ariel Precision Medicine. “Revenue was also recorded from several agreements that we entered into last year with translational research and large pharmaceutical companies to leverage our tools and expertise to advance their research into pancreatic disease. Based on the strong revenues to date and the continuing adoption of ArielDx by leading academic medical centers, we expect to meet our growth and revenue goals in 2019.”
ArielDx is a cloud-based clinical decision support tool designed to simplify the diagnosis and treatment of pancreatic disease. Genetic details collected from Ariel’s proprietary next-generation sequencing test, PancreasDx®, are integrated into the company’s Celeste platform, which interprets them in the context of each patient’s symptoms, environment, clinical and family history to deliver insights into personalized care.
“The clearance and launch of ArielDx was a substantial milestone for Ariel and we are encouraged both by the rate of adoption and by the response from insurance payers who are reimbursing ArielDx as medically necessary,” said Tory Moore, chief financial officer of Ariel. “Our aim was and continues to be improving the diagnosis and treatment of patients with pancreatic disease - from pancreatitis to complex diabetes - so that they can receive the right medical intervention early in their disease progression. The launch of ArielDx brings us one step closer to a reality where physicians can deliver the right treatment for the right patient at the right time.”
In addition to revenue, product innovation, leadership and business performance, Life Sciences PA also assesses a nominee’s impact on the broader life sciences community. Consistent with that mandate, Ariel has an ongoing partnership with the National Pancreas Foundation (NPF) to identify genetic variants that drive or modify the progression or severity of pancreatic disease and/or a patient’s response to therapy. These insights may then inform biopharmaceutical R&D strategy, leading to the development of improved treatments. The NPF is the only foundation dedicated to patients suffering from all forms of pancreatic disease.
Ms. Gibson concluded, “We are honored to be recognized by Life Sciences PA with this award. Going forward, we will remain committed to our shared objectives of excellence in product innovation, leadership, performance and community impact.”
ArielDx is a cloud-based platform designed for clinicians to simplify diagnosis and inform treatment selection at the earliest signs of gastrointestinal diseases. Ariel believes its comprehensive approach allows users to prevent or mitigate the most severe outcomes of complex chronic conditions by enabling an understanding of disease drivers and long-term prognoses.
About Ariel Precision Medicine
Ariel Precision Medicine is a private, Pittsburgh-based integrated genomics and digital health company creating solutions to enable early, personalized care of complex chronic diseases for patients anywhere. The company’s initial products are PancreasDx®, the first clinically integrated genetic test for Pancreatitis, and its NGS genetic testing platform, ArielDx®, which may be used by clinicians to evaluate multiple disease-causing and disease-modifying genetic variants in the context of each patient’s clinical experience. Learn more by visiting www.arielmedicine.com.
This press release contains “forward-looking statements” concerning the development and commercialization of Ariel’s products, the potential benefits and attributes of such product or platform technology, and Ariel’s expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Actual results may vary. Ariel undertakes no obligation to update any forward-looking statements for any reason.