Theralink® Technologies Begins Receiving Payments from Third Party Payors for its Advanced Breast Cancer Assay, Achieving Key Milestone

Theralink Technologies (OTC: THER) announced on Feb. 23, 2023, that it has begun receiving payments from third-party payors for its advanced breast cancer assay.

Rhea-AI Summary

Theralink Technologies (OTC: THER) announced on Feb. 23, 2023, that it has begun receiving payments from third-party payors for its advanced breast cancer assay. This milestone highlights the company's innovative phosphoprotein-based testing technology, which aims to provide oncologists with actionable information to enhance treatment decisions. CEO Mick Ruxin emphasized that this achievement reflects the company's growth and commitment to improving cancer care access across the U.S. Theralink's patented technology measures tumor cell levels of activated proteins, which are critical for FDA-approved therapies and investigational drugs.

Positive

• Started receiving payments from third-party payors for its advanced breast cancer assay.
• Demonstrates business growth and clinical influence in oncology.
• Innovative technology targets activated proteins critical for cancer treatment.

Negative

• None.

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GOLDEN, Colo., Feb. 23, 2023 /PRNewswire/ -- Theralink Technologies (OTC: THER) ("Theralink" or the "Company"), a precision oncology company with a novel phosphoprotein-based assay for advanced breast cancer, today announced that the Company has begun receiving payments from third party payors for its advanced breast cancer assay.

Mick Ruxin, M.D., CEO of Theralink said, "We are extremely pleased to bring our game-changing testing technology to all beneficiaries in the U.S. Access to the latest cancer testing technology is paramount in order to make informed treatment decisions that will affect patient outcomes. The milestone of receiving third party payor paymentsis a testament to the value that Theralink provides to cancer patients and their oncologists by way of actionable information for expanded treatment options."

Theralink empowers physicians with new sources of actionable information with its patented, predictive, proteomic biomarker assay that assists oncologists with treatment decisions for their advanced breast cancer patients. Theralink's patented Reverse Phase Protein Array (RPPA) technology measures the tumor cell levels of activated proteins, which no other US technology can do in a commercial, multiplexed environment. These activated proteins are the primary targets of most FDA-approved therapies and investigational drugs.

Dr. Ruxin concluded, "The above announcement speaks to our continued business growth and clinical influence as we work in a collaborative way with several U.S.-based cancer programs and private community practices as well as other stakeholders to improve access to care for all Americans affected by cancer."

About Theralink Technologies, Inc.
Theralink Technologies is a proteomics-based, precision medicine company with a nationally CLIA-certified and CAP-accredited laboratory located in Golden, Colorado. Through its unique and patented phosphoprotein and protein biomarker platform and LDTs, Theralink's technology targets multiple areas of oncology and drug development. In addition to the Company's first assay for advanced breast cancer, Theralink is actively working on a second assay that is planned to be pan-tumor for solid tumors across multiple tumor types such as ovarian, endometrial, pancreatic, liver, head and neck, colorectal, lung, and prostate, among others. Theralink provides precision oncology data through its powerful Theralink® Reverse Phase Protein Array (RPPA) assays to assist the biopharmaceutical industry and clinical oncologists in identifying likely responders and non-responders to both FDA-approved and investigational drug treatments in ongoing clinical trials. Theralink intends to help improve cancer outcomes for patients, help reveal therapeutic options for oncologists, and support biopharmaceutical drug development by using a beyond-genomics approach to molecular profiling that directly measures drug target levels and activity. For more information, please visit www.theralink.com.

Forward-Looking Statements
Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, anything relating or referring to future financial results, patient enrollment and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by Theralink Technologies with the Securities and Exchange Commission. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business and although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof.

View original content:https://www.prnewswire.com/news-releases/theralink-technologies-begins-receiving-payments-from-third-party-payors-for-its-advanced-breast-cancer-assay-achieving-key-milestone-301753997.html

SOURCE Theralink Technologies

FAQ

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What recent milestone did Theralink Technologies (THER) achieve?

Theralink Technologies announced it has begun receiving payments from third-party payors for its advanced breast cancer assay.

What does Theralink's advanced breast cancer assay do?

The assay provides oncologists with actionable information by measuring tumor cell levels of activated proteins.

Who is the CEO of Theralink Technologies?

Mick Ruxin is the CEO of Theralink Technologies.

When was the press release about Theralink Technologies published?

The press release was published on February 23, 2023.

What stock symbol is associated with Theralink Technologies?

Theralink Technologies is associated with the stock symbol OTC: THER.