Palmetto GBA issued final local coverage determination for the tissue-based, 31-gene expression test, which determines a patient’s risk for metastatic disease.
The approvals allow the company to offer its PCR-based expression profile cancer risk tests in the state.
The company announced positive coverage decisions from Palmetto GBA, 14 BCBS plans, and Aetna.
Castle will use the proceeds to accelerate marketing and new product development related to its molecular prognostic tests for patients with underserved cancers.
The Medicare contractor is proposing to not cover Vectra DA, but to extend coverage for Prolaris, Xpresys, and DecisionDx-UM under specific circumstances.
The company's new $14 million facility refinances its original $6 million loan, and adds capital for new growth.
The first tranche of the targeted $20 million financing round will be used to accelerate adoption of the company's melanoma test.
The financing will go toward commercial and clinical activities to increase adoption of the company's DecisionDx-Melanoma test.
Consulting company McKinsey says diagnostics companies will have to combine genomic data analysis, electronic medical records, effective reimbursement strategies, and regulatory compliance in order to win.
A new report has found that researchers in Africa are still heavily dependent on funding from organizations in the US, Europe, and China, Nature News says.
An article in The Atlantic argues that the progress being made in science isn't keeping pace with the money and time being spent on research.
In Science this week: a CRISPR screen identifies sideroflexin 1 as a requisite component of one-carbon metabolism, and more.