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Atossa Inks Agreement with MultiPlan for Access to Breast Cancer Tests

NEW YORK (GenomeWeb News) – Genetic test development firm Atossa Genetics, which is waiting to complete its initial public offering, disclosed last week an agreement to provide access to its tests to providers and patients in managed healthcare plan MultiPlan's networks.

Under the terms of the deal, disclosed in a document filed with the US Securities and Exchange Commission, providers and patients in MultiPlan, PHCS, and PHCS Savility Networks will be able to access Atossa's tests, including the ForeCYTE and ArgusCYTE Breast Health Tests. Additional details of the deal were not disclosed.

ForeCYTE, based on Atossa's US Food and Drug Administration-cleared Mammary Aspirate Specimen Cytology Test System, or MASCT, provides information about the 10-year and lifetime risk of breast cancer for women between 18 and 65 years old.

ArgusCYTE helps guide treatment for breast cancer and monitors potential recurrence.

MultiPlan is a national managed health care preferred provider organization headquartered in New York. About 900,000 healthcare providers participate in its provider networks and 57 million patients have access to one or more of the networks, it said.

In the SEC document, Seattle-based Atossa also disclosed that as of Aug. 31 it had $7,631 in cash and cash equivalents and $250,000 in restricted cash.

Atossa refiled for an IPO earlier this year. Last month, it lowered the expected share price for its offering to a range of $4 to $6 from an earlier range of $5 to $7.

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