Clinical Data, Inc. Signs Contract with Aetna for In-network Coverage of FAMILION® Genetic Tests for Inherited Cardiac Syndromes
NEWTON, Mass.--(BUSINESS WIRE)--PGxHealth®, a division of Clinical Data, Inc. (NASDAQ: CLDA), announced today that it has become an in-network provider with Aetna for healthcare coverage of its FAMILION® family of genetic tests. By detecting genetic mutations, the FAMILION tests are used to recognize inherited forms of cardiac channelopathies, such as Long QT Syndrome (LQTS), and cardiomyopathies, such as Hypertrophic Cardiomyopathy (HCM), in individuals and their families and help to guide treatment decisions to prevent possible sudden cardiac death.
“The decision to cover FAMILION as an in-network test indicates that Aetna is committed to joining other forward-thinking payors who realize the value of our FAMILION family of genetic tests to diagnose and manage Long QT Syndrome and other complex cardiac conditions,” said Drew Fromkin, President and CEO of Clinical Data. “In-network coverage for the FAMILION tests is a substantial benefit for Aetna members, and we applaud Aetna’s commitment to making these important tools available to its policy holders.”
With the new in-network coverage for Aetna patients, FAMILION tests have positive reimbursement policies from private and public insurers covering an estimated 155 million lives, an increase of 100 million covered lives from the beginning of the year. PGxHealth is also an approved Medicare provider for its genetic testing services, and a Medicaid provider in 37 states and the District of Columbia, up from just seven states in January 2008. The positive changes to the reimbursement landscape for PGxHealth’s genetic tests demonstrate the Company’s commitment to working with private and government payers to improve patient access to these vital tests.
For more information on the FAMILION tests contact PGxHealth Customer Service at 877-2-PGxHealth (877-274-9432) or visit its Web site at www.pgxhealth.com.
About FAMILION®
The FAMILION tests detect genetic mutations that can cause cardiac channelopathies, such as Long QT Syndrome (LQTS), Brugada Syndrome (BrS) and Catecholaminergic Polymorphic Ventricular Tachycardia (CPVT), or cardiomyopathies such as Hypertrophic Cardiomyopathy (HCM), in individuals and their families. For more information about the FAMILION family of genetic tests, visit www.pgxhealth.com/genetictests/familion.
By detecting genetic mutations, the FAMILION tests can be used to recognize inherited forms of these syndromes, helping to guide treatment and reduce the incidence of deadly cardiac events associated with them.
When a cardiac channelopathy or cardiomyopathy has been diagnosed, the test can help doctors and patients make more informed treatment decisions and aid in uncovering other family members that may be at risk, even if asymptomatic.
About PGxHealth®
PGxHealth has extensive experience and capabilities in the development, clinical validation and delivery of genomics-based tests. Through its own know-how and resources, work conducted with some of the world’s most prestigious genomics thought leaders and institutions, and use of innovative technologies, PGxHealth is focused on reducing treatment costs and improving clinical outcomes in disease states and therapeutic classes with expensive, inefficient or suboptimal treatment options. Among its tests are the FAMILION and the PGxPredict® brands. Visit the company’s website at www.pgxhealth.com.
About Clinical Data, Inc.
Clinical Data is a global biotechnology company unlocking the potential of molecular discovery, From Targeted Science to Better Healthcare™. Its PGxHealth® division focuses on proprietary biomarker and pharmacogenetic test development, as well as targeted therapeutics to help predict drug safety and efficacy, thereby reducing health care costs and improving clinical outcomes. Its Cogenics® division provides genomics services to both research and regulated environments. Through these divisions, Clinical Data is leveraging advances in molecular discovery to provide tangible benefits for patients, doctors, scientists and health plans worldwide. Visit the company's website at www.clda.com for more information.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains certain forward-looking information and statements that are intended to be covered by the safe harbor for forward looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about our ability to successfully integrate the operations, business, technology and intellectual property obtained in our acquisitions; our ability to obtain regulatory approval for, and successfully introduce our new products; our ability to expand our long-term business opportunities; financial projections and estimates and their underlying assumptions; and statements regarding future performance. All of such information and statements are subject to certain risks and uncertainties, the effects of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, whether our PGxPredict™ tests, including but not limited to FAMILION, will gain wide acceptance in the market; the extent to which genetic markers (haplotypes) are predictive of clinical outcomes and drug efficacy and safety; the strength of our intellectual property rights; competition from pharmaceutical, biotechnology and diagnostics companies; the development of and our ability to take advantage of the market for pharmacogenetic and biomarker products and services; whether Clinical Data will be able to develop or acquire additional products and attract new business and strategic partners; and those risks identified and discussed by Clinical Data in its filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward looking statements that speak only as of the date hereof. Clinical Data does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in Clinical Data's SEC periodic and interim reports, including but not limited to its Annual Report on Form 10-K for the fiscal year ended March 31, 2007, Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2007, and Current Reports on Form 8-K filed from time to time by the Company.