FT. MYERS, Fla., Sept. 13, 2012 /PRNewswire/ -- NeoGenomics, Inc. (NASD OTC BB: NGNM), a leading provider of cancer-focused genetic testing services, announced today it has begun using a new proprietary software that it developed for reading and interpreting Fluorescent in Situ Hybridization ("FISH") digital data. The company will use this software to further automate certain FISH analyses in its own laboratories and will consider sub-licensing it to other providers. The Company also announced that it has applied for a utility patent on this methodology and the related software.
The proprietary software, which is based upon a sophisticated machine learning technology known as Support Vector Machine ("SVM"), allows users to read and interpret specific types of FISH images more accurately and more quickly. Laboratory technologists and professionals can train different algorithms for specific types of FISH images, and a library of files for reading and interpreting various FISH probes can be easily compiled for general use in any FISH laboratory that has a sublicense to the SVM technology. The software can read and interpret most forms of digital FISH data acquired manually or by an automated system.
NeoGenomics has validated and is currently implementing a laboratory developed test using the new software to read ALK rearrangement FISH tests, and plans to expand its use for other FISH probes. FISH testing for ALK rearrangement is currently performed manually and only 50 cells are counted by most laboratories. This new computer-aided system enables a significantly higher number of cells to be counted and allows for increased accuracy and reduced subjectivity from case to case. ALK testing is very important for selecting appropriate therapy for lung cancer patients. The Company expects a modest incremental reimbursement associated with ALK testing in this initial application of SVM technology, because it will enable the use of computer assisted FISH CPT codes for billing.
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