Precipio enters distribution agreement for IV-Cell, HemeScreen in Japan

Precipio entered into an agreement with a Japanese distributor for the sales and distribution of its products into the Japanese market. The distributor has already secured its first purchase order from a leading Japanese clinical laboratory, for Precipio’s proprietary IV-Cell cytogenetics media. The first shipment is expected to be delivered at the end of Q1-2024. The Japanese diagnostic market is renowned for its high level of quality and for its intense scrutiny of products. Precipio was approached by a Japanese laboratory with an inquiry about its IV-Cell media, and entered into a testing period to evaluate the product. The laboratory conducted extensive testing of Precipio’s IV-Cell cytogenetics media, including a comprehensive side-by-side analysis comparing it to the current media used in their lab. The study, results of which were shared with Precipio, demonstrated the superior performance of IV-Cell, and ultimately resulted in their decision to adopt the media in their laboratory. The laboratory then appointed a distributor to handle negotiations with Precipio, resulting in a distribution agreement for its products within the Japanese market. The parties have entered into a multiple year commitment, with the intent of forming a long-term relationship to leverage the distributor’s network within Japan to distribute Precipio’s current, and future products, and bring diagnostic advancements to a broad range of customers in the Japanese market.