Thursday, November 02, 2017 6:57:35 PM
Under this new agreement, Pacific Pain & Regenerative Medicine guarantees a minimum of 20 PGx tests per month which will generate between $20,000 and $40,000 per month of revenue to the Company, depending on the test. Pharmacogenetic (PGx) testing is used for determining how an individual will respond to a particular medicine. Clinicians use PGx testing to provide personalized medicine rather than using the population-based or one size fits all approach. PGx testing may also improve medication adherence.
PGx testing provides insight into a patient's metabolic pathways. Knowing which pathways are functioning normally or abnormally allows a physician to prescribe medications as intended by the drug manufacturer, select the most appropriate dose, and even the best drug for the patient.
"This is the first step in signing up doctor groups and clinics. As we demonstrate successful and timely testing, it will allow us to add toxicology testing for their patents as well. Based on the number of samples per month we will see a significant change in the way we do business as a company," Douglas McKinnon, AppYea's CEO, stated. "If we manage 1000 tests per month for doctor groups we are looking at a completely different company."
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