Verici Dx (VRCI ) will collaborate with the NASDAQ-listed biotechnology firm Illumina, Inc to expedite the operational launch of some components of the company’s clinical products.
The clinical diagnostics developer said the partnership will expedite the operational launch of data analysis processing and predictive artificial intelligence components of its products.
This will be executed by using early access to ICA, Illumina’s new software platform for operationalized secondary analysis with an advanced data science environment, it noted.
Verici Dx’s AI-based underlying technology is focused upon the immune response as well as other biological pathway signals critical for transplant prognosis of risk of injury, resulting in rejection and graft failure beginning pre-transplant and following to late-stage, it explained.
Under the terms of the collaboration, Illumina Connected Analytics (ICA) will provide Verici Dx with the ability to process large datasets, allowing for AI-enabled RNA signature testing to be clinically available ‘at a more robust level than has been previously possible,’ it told investors.
ICA also enables Verici Dx to build custom workflows in a secure and compliant environment. ‘With streamlined querying of large data sets, ICA supports Verici Dx’s leading-edge technology and provides a framework for future data science discovery,’ it highlighted.
Since ICA allows the integration of Illumina sequencers and software in a cloud-based environment and is globally accessible, Verici said there remains many opportunities.
It added that having access to this platform provides a substantial enhancement to its data management and interrogation capabilities ‘and bolsters its ability to develop highly predictive future products while it also enables it to stay at the forefront of improving patient outcomes.’
Commenting on the news of the collaboration, Susan Tousi, Chief Commercial Officer of Illumina, outlined: “We are pleased to collaborate with Verici Dx to provide a platform for them to advance their sequencing analytical methodologies for organ transplant tests.”
Sara Barrington, Chief Executive Officer of Verici Dx, added: “Our leading-edge science depends on the ability to process vast amounts of data into meaningful and interpretable segments, and we believe there is no better tool to support us in this than ICA. We are very proud to be an early-access user of this tool in the commercial space from a world-class provider and leader in servicing the global sequencing market.
This milestone represents a key step in the readiness of both the near-term launches of our flagship Clarava™ and Tuteva™ products, as well as the long-term strategy for building the computational data analytics tools that will power the future of Verici Dx’s data science.”
On Tuesday, Verici said it had been granted CPT® Proprietary Laboratory Analyses (“PLA”) codes1,2 for both its Clarava and Tuteva tests by the American Medical Association (“AMA”).
The clinical diagnostics developer told investors that the new codes had been approved and published by the AMA Editorial Panel and are scheduled to become effective on 1 April 2022.
Commenting on the news, Patti Connolly, Executive Vice President, Product Development of Verici Dx, said: “We were delighted with the AMA’s decision as CPT® codes are fundamental in the commercialisation of our lead products.” The Company added that the successful granting of a CPT® code marks “the first step on the path for commercial reimbursement.”
‘Reimbursement in the US consists of three components: code, price and coverage. CPT® codes offer health care professionals a uniform language for coding medical services and procedures, and the CPT® PLA code allows clinical laboratories to more specifically identify their tests when billing Medicare and commercial insurers,’ the Company outlined to investors.
Verici Dx’s Clarava™ assay is a pre-transplant prognosis test for the risk of early acute rejection, while Tuteva™ is a post-transplant diagnostic focused upon acute cellular rejection.
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