Exagen Inc. Announces Agreement with Provider Network of America
Expanding Access for AVISE® Tests to 8 Million Members
SAN DIEGO, Sept. 29, 2020 (GLOBE NEWSWIRE) — Exagen Inc. (Nasdaq: XGN), an organization dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases, today announced that it has entered into a preferred provider network agreement with Provider Network of America (PNOA). Under the terms of the agreement, over 8 million PNOA members in the U.S. will have in-network access to Exagen’s unique suite of AVISE® tests for autoimmune disorders, including rheumatoid arthritis and lupus.
PNOA is a nationwide, direct contracted provider network accessed by 526 payers, which has over 375,000 contracted physicians and 12,000 hospitals and ancillary facilities under contract, assuring reliable access to healthcare for providers, payers and patients. More than 8 million PNOA members have access to PNOA’s preferred provider organization network through a client base consisting of cost containment companies, third party administrators, commercial payers, Taft-Hartley Trust plans and Native American Tribal Plans.
Jeremy Ramsland, Director of Sales and Marketing of PNOA said, “PNOA is pleased to welcome Exagen and its proprietary AVISE® testing into our preferred provider network. Autoimmune diseases are notoriously difficult to diagnose and prognose under current standards of care, and the AVISE® suite of testing products is an important new tool enabling timely differential diagnosis and improved outcomes for patients. All parties involved in healthcare, from patients to payers, stand to benefit from more accurate diagnosis and earlier intervention. Our partnership with Exagen shows PNOA’s commitment to add progressive, cutting edge companies to our national provider network.”
“This is an important step in securing Exagen’s reimbursement strategy framework for broad payer coverage, in-network access and widespread adoption of AVISE® testing as a standard of care,” said Ron Rocca, President and Chief Executive Officer of Exagen. “Our AVISE® tests enable timely and more accurate diagnosis of autoimmune diseases such as lupus, which takes on average 6 years to diagnose accurately. This partnership offers PNOA’s rheumatology providers a suite of innovative tests to help enhance care for PNOA’s members who may be suffering from autoimmune diseases.”
About Exagen Inc.
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE® brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable rheumatologists to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune related diseases, including rheumatoid arthritis and lupus. For further information please visit www.exagen.com.
Forward Looking Statements
Exagen cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the Company’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected benefits of the partnership with PNOA, including the availability and expected use of AVISE tests through the PNOA network, and any potential for increased use of AVISE laboratory tests. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect our business, financial condition and results of operations; Exagen’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products and promoted therapeutics among rheumatologists, patients, third-party payers and others in the medical community; third party payers not providing coverage and adequate reimbursement for the company’s testing products or promoted therapeutics; the company’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting the company’s business; risks associated with maintaining third-party partnerships and Exagen’s performance thereunder; and other risks described in the Company’s prior press releases and in the Company’s filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in the company’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Kamal Adawi, Chief Financial Officer