ProPhase to Launch BE-Smart Esophageal Cancer Test in 2024
Next generation diagnostics company, ProPhase Labs (Nasdaq: PRPH), expects to launch its breakthrough BE-Smart test for esophageal adenocarcinoma (EAC) in the second half of 2024. BE-Smart leverages sophisticated proteomics to improve early detection of EAC and stratifies patients into low or high-risk groups with remarkable accuracy.
EAC is among the deadliest cancers with no effective currently available targeted treatments. Approximately 80-90% of EAC patients face a fatal outcome.
Ted Karkus, CEO of ProPhase Labs, commented on the upcoming launch, saying, “The BE-Smart test is more than an advancement in medical technology; it is providing a critical solution to esophageal cancer by enabling early and cost-effective detection. Early detection offers patients the opportunity for more favorable outcomes and a brighter, healthier future. This groundbreaking diagnostic test is a patent-protected method for identifying esophageal cancer markers and a key component of ProPhase Labs’ mission to enhance early detection and facilitate personalized treatment strategies and reflects our commitment to saving lives and improving patient care.”
ProPhase anticipates reimbursement rates ranging between $1,000 and $2,000 per test based on Current Procedural Terminology (CPT) codes of similarly complex tests. By addressing the annual estimated demand for seven million endoscopies in the US alone, the BE-Smart test is targeting an initial market size of between $7 billion and $14 billion.
About ProPhase Labs
ProPhase Labs, Inc. (Nasdaq: PRPH) (“ProPhase”) is a next-generation biotech, genomics, therapeutics and diagnostics company. Our goal is to create a healthier world with bold action and the power of insight. We’re revolutionizing healthcare with industry-leading Whole Genome Sequencing solutions, while developing potential game changer diagnostics and therapeutics in the fight against cancer. This includes a potentially life-saving cancer test focused on early detection of esophageal cancer and potential breakthrough cancer therapeutics with novel mechanisms of action. Our world-class CLIA labs and cutting-edge diagnostic technology provide wellness solutions for healthcare providers and consumers. We develop, manufacture, and commercialize health and wellness solutions to enable people to live their best lives. We are committed to executional excellence, smart diversification, and a synergistic, omni-channel approach. ProPhase Labs’ valuable subsidiaries, their synergies and significant growth underscore our multi-billion-dollar potential.
