SOPHiA GENETICS Announces Instituto Mário Penna as New Customer

Rhea-AI Summary

SOPHiA GENETICS (Nasdaq: SOPH) announced that Instituto Mário Penna is now utilizing its SOPHiA DDM™ Platform. This Brazilian oncology center, located in Belo Horizonte, will use the platform to enhance its research and testing for blood cancers. The SOPHiA DDM™ Platform employs next-generation sequencing (NGS) to accurately target key variants from various sample types, aiding in timely and precise detection.

The Instituto Mário Penna, a major oncology service provider in Brazil, offers comprehensive cancer care including in-patient, out-patient, chemotherapy, radiation treatments, clinical laboratory analysis, and surgery. The integration of SOPHiA DDM™ aims to improve on-site diagnostic capabilities and support data-driven treatment decisions.

Blood cancers are the fifth most common type of cancer globally, and the institute's adoption of this AI-based technology reflects a commitment to advancing healthcare in Brazil.

Positive

• Instituto Mário Penna, a leading oncology center, implements SOPHiA DDM™, expanding SOPHiA GENETICS' customer base.
• SOPHiA DDM™ Platform aids in fast, accurate detection of genomic variants associated with blood cancers.
• The platform offers nearly 100% reproducibility, ensuring reliable sequencing data.
• The integration supports data-driven treatment plans, aligning with the trend towards precision medicine.

Negative

• No specific financial figures or new revenue projections from this collaboration were disclosed.
• The PR lacks information on the cost implications or ROI for SOPHiA GENETICS from this integration.

News Market Reaction

+0.22%

1 alert

+0.22% News Effect

On the day this news was published, SOPH gained 0.22%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

The hospital will enhance its testing and research of blood cancers with the SOPHiA DDM™ Platform

BOSTON and ROLLE, Switzerland, May 20, 2024 /PRNewswire/ -- SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology company and a global leader in data-driven medicine, today announced that Instituto Mário Penna is live on the SOPHiA DDM™ Platform. Located in Belo Horizonte, Brazil, the Instituto Mário Penna will use SOPHiA GENETICS' technology to advance its testing, research, and advance data-driven diagnoses and treatment decisions for blood-related cancers and disorders.

Cancer is the second most common cause of death in Brazil, with 704,000 anticipated new cancer cases expected between 2023 and 2025.¹ On a global scale, blood cancers are the fifth most common type of cancer in the world.² The Instituto Mário Penna specializes in treating patients with cancer and is one of the largest providers of oncology services in Brazil. With 58 beds, the center offers both in-patient and out-patient care, chemotherapy and radiation treatments, clinical laboratory analysis, and surgical care. Instituto Mário Penna has implemented the SOPHiA DDM™ Platform to improve its onsite testing capabilities and to inform more data-driven treatment plans.

"At SOPHiA GENETICS we are committed to accelerating and expanding the use of precision medicine," said Ricardo Mendonca Filho, PhD., Managing Director, LAPAC, SOPHiA GENETICS. "Instituto Mário Penna is a staple within the cancer-care community in Brazil, and its implementation of the SOPHiA DDM™ Platform shows its commitment to advancing cancer care. We are confident that our AI-based platform will help Instituto Mário Penna generate fast, accurate, and meaningful insights to support researchers and clinicians in making data-driven decisions." 

Advances in diagnostics and treatment of blood cancers depend on timely, cost-effective, and reliable sequencing data. The SOPHiA DDM™ Platform uses NGS to target key variants from FFPE, blood, or bone marrow samples helping lead to fast and accurate detection of variants associated with the disease.

The SOPHiA DDM™ Platform is specifically designed to compute a wide array of genomic variants and continually hones its machine learning algorithms to detect genomic variants associated with rare and challenging cases. Additionally, the SOPHiA DDM™ Platform delivers results that are nearly 100 percent reproducible to provide consistent inter- and intra-run results, ensuring stable and trustworthy sequencing data.

For more information on SOPHiA GENETICS, visit SOPHiAGENETICS.COM, or connect on LinkedIn. 

About SOPHiA GENETICS 
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions.  For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.

SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures, unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact support@sophiagenetics.com to obtain the appropriate product information for your country of residence.

SOPHiA GENETICS Forward-Looking Statements:
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. 

¹ https://www.cancer.net/blog/2023-07/cancer-my-community-addressing-health-disparities-brazil
² https://www.worldwidecancerresearch.org/news-opinion/2022/september/blood-cancer-everything-you-need-to-know/

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/sophia-genetics-announces-instituto-mario-penna-as-new-customer-302149227.html

SOURCE SOPHiA GENETICS

FAQ

What is SOPHiA GENETICS' stock symbol?

SOPHiA GENETICS' stock symbol is SOPH.

What did SOPHiA GENETICS announce on May 20, 2024?

SOPHiA GENETICS announced that Instituto Mário Penna is now live on the SOPHiA DDM™ Platform.

Where is Instituto Mário Penna located?

Instituto Mário Penna is located in Belo Horizonte, Brazil.

How will Instituto Mário Penna use SOPHiA DDM™?

The institute will use SOPHiA DDM™ to enhance its testing, research, and data-driven diagnoses and treatment decisions for blood cancers.

What types of cancer does Instituto Mário Penna specialize in?

Instituto Mário Penna specializes in treating blood-related cancers and disorders.

What are some key features of the SOPHiA DDM™ Platform?

The SOPHiA DDM™ Platform uses NGS to target key genomic variants and offers nearly 100% reproducibility for consistent, reliable sequencing data.

How common are blood cancers globally?

Blood cancers are the fifth most common type of cancer in the world.