REG - LungLife AI, INC - CPT® Code granted by American Medical Association

LungLife AIAnnouncement

04/01/2022 07:00

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RNS Number : 2499X  LungLife AI, INC  04 January 2022

LungLife AI, Inc.

(the "Company" or "LungLife")

 

CPT® Code granted by American Medical Association

Successful grant marks first step facilitating commercial reimbursement

 

LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung
cancer announces it has been granted a CPT® Proprietary Laboratory Analyses
(PLA) code for its LungLB(®) test by the American Medical Association (AMA).
The new code has been approved and published by the AMA Editorial Panel and is
scheduled to become effective on 1 April 2022.

 

Reimbursement in the US is comprised of three components: code, price, and
coverage. CPT® codes offer health care professionals a uniform language for
coding medical services and procedures, and the CPT® code allows clinical
laboratories to more specifically identify their tests when billing Medicare
and commercial insurers. The successful granting of a CPT® code marks the
first step on the path for commercial reimbursement.

 

Paul Pagano, Chief Executive Officer, LungLife AI said: "A CPT® code is
fundamental in the commercialisation of the LungLB® test. We were delighted
with the AMA's decision as this will facilitate access to LungLB® for
patients with indeterminate pulmonary nodules who are at-risk for lung
cancer."

 

 

For further information please contact:

 

 LungLife AI, Inc.                                   www.lunglifeai.com (https://www.lunglifeai.com/)
 Paul Pagano, CEO                                    Via Walbrook PR
 David Anderson, CFO

 Investec Bank plc (Nominated Adviser & Broker)      Tel: +44 (0)20 7597 5970
 Daniel Adams / Virginia Bull / Cameron MacRitchie

 Walbrook PR Limited                                  Tel: +44 (0)20 7933 8780 or LungLifeAI@walbrookpr.com
                                                     (mailto:LungLifeAI@walbrookpr.com)
 Paul McManus / Alice Woodings                       Mob: 07980 541 893 / 07407 804 654

 

 

About LungLife AI

LungLife is a developer of clinical diagnostic solutions for lung cancer
enhanced by artificial intelligence. The Company's diagnostic solutions are
designed to make a significant impact in the early detection of lung cancer.

 

The Company's technology is a combination of the recovery of rare cells and
blood-based biomarkers shown to be altered in lung cancer. The Company employs
machine learning to improve biomarker detection, and intends to build a deep,
novel pool of lung cancer-related data for AI-enabled applications designed to
improve its diagnostic solutions over time.

 

The Company's core technologies are integrated in the LungLB® test, which is
intended to be used as a tool to provide physicians with additional
information to help in the decision-making process for people with
indeterminate lung nodules that may be lung cancer following a CT scan. There
are estimated to be over 1.5 million individuals with indeterminate lung
nodules diagnosed each year in the United States. The LungLB® test may have
additional utilities, the most significant of which is likely to be in
monitoring individuals for recurrence following surgical removal of cancerous
lung nodules.

 

The Company has completed a 149 subject pilot study to evaluate the LungLB®
test, which showed a well-balanced performance and a Positive Predictive Value
of 89 per cent. The Company is now gearing up to proceed to a larger,
multi-centre validation study to garner regulatory and reimbursement support
and facilitate commercialisation.

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