Natera Inc. Terminates NIPT Distribution Agreement with Bioreference Labs
SAN CARLOS, Calif., Jan. 10, 2017 /PRNewswire/ — Natera (NASDAQ: NTRA), a leader in non-invasive genetic testing, announced the termination of a distribution agreement with Bioreference Laboratories. With the ending of the distribution agreement, Natera intends to promote Panorama directly to clinicians, who previously ordered this test through Bio-Reference. Natera also plans to promote its Horizon carrier screen test to these clinicians, which it had not done previously.
"Panorama and Horizon are trusted names in prenatal testing, and with our strong U.S. sales force we are able to reach most of the OBGYNs and MFMs, allowing us to create greater value. These physicians will now have access to Horizon, which is a highly differentiated carrier screening test," said Matthew Rabinowitz, Ph.D., CEO of Natera. "Over the last three years, we have increasingly focused our commercial efforts on our direct channel in the United States. While we continue to enjoy highly productive commercial relationships with regional laboratory partners and hospital systems, transitioning from large national laboratory partners to our direct channel significantly reduces channel conflict and has been a very successful approach for Natera."
Natera is a genetic testing company that develops and commercializes non-invasive methods for analyzing DNA. The mission of the company is to transform the diagnosis and management of genetic disease. In pursuit of that mission, Natera operates a CAP-accredited laboratory certified under the Clinical Laboratory Improvement Amendments (CLIA) in San Carlos, CA, and it currently offers a host of proprietary genetic testing services primarily to OB/GYN physicians and fertility centers, as well as to genetic laboratories through its cloud-based Constellation™ software system.
Tests include the Spectrum® pre-implantation genetic test for embryo selection during IVF; the Anora® miscarriage test to understand the genetic causes of a pregnancy loss; the Horizon™ carrier test to detect inherited mutations; and the Panorama® non-invasive prenatal test (NIPT) to identify common chromosomal anomalies in a fetus as early as nine weeks of gestation.
Each test described has been developed and its performance characteristics determined by the CLIA-certified laboratory performing the test. These tests have not been cleared or approved by the U.S. Food and Drug Administration (FDA). Although FDA does not currently clear or approve laboratory-developed tests in the U.S., certification of the laboratory is required under CLIA to ensure the quality and validity of the tests.
Natera is also applying its unique technologies to develop non-invasive screening and diagnostic tools for earlier detection and improved treatment of cancer. These tests have not been cleared or approved by the U.S. Food and Drug Administration.
This release contains forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any forward-looking statements contained in this press release are based upon Natera’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Natera’s expectations as of the date of this press release.
Subsequent events may cause these expectations to change, and Natera disclaims any obligation to update the forward-looking statements for any reason after the date of this press release. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results to differ materially, including with respect to our ability to increase demand for our screening tests, our expectations of the reliability, accuracy and performance of our screening tests, or of the benefits of our screening tests to patients, providers and payers, or regarding the rate of adoption of our screening tests by laboratories, clinics, clinicians, payers, and patients.
Additional risks and uncertainties are discussed in greater detail in the sections entitled "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in Natera’s Form 10-Q for the quarter ended September 30, 2016. Further information on potential risks that could affect actual results will be included in other filings Natera makes with the SEC from time to time. These documents are available for free on the company’s website at www.natera.com under the Investor Relations section, and on the SEC’s website at www.sec.gov.
Mike Brophy, SVP of Finance and Investor Relations, 650-249-9091 x1471
Laura Zobkiw, Corporate and Media Relations, 650-249-9091 x1649
SOURCE Natera, Inc.