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Interpace Inks Israeli Distribution Deal for Cancer MDx

NEW YORK (GenomeWeb) – Interpace Diagnostics announced today that it has signed an agreement making clinical services provider Best Med Opinion the exclusive distributor of Interpace’s cancer molecular diagnostics in Israel.

Under the terms of the deal, Tel Aviv-based Best Med will provide Israeli physicians and patients with information regarding Interpace's ThyGenX and ThyraMir tests for thyroid cancer, as well as its PancraGen pancreatic cancer test. It will also oversee the collection and shipment of test samples to Interpace's CLIA labs and report the results back to ordering physicians.

Additional terms were not disclosed.

"We are excited about our relationship with Best Med," Interpace President and CEO Jack Stover said in a statement. "Their selection of our products and services is an important validation of our potential to expand internationally."

During early morning trading on Nasdaq, shares of Interpace were up 45 percent at $6.70. Earlier this week, the company announced that it had regained compliance with Nasdaq's minimum bid requirement and that it has submitted a plan to the exchange to regain compliance with its minimum stockholder's equity requirement.

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