REG - LungLife AI, INC - Data on cost-effectiveness of LungLB®

LungLife AIAnnouncement

27/02/2023 07:00

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RNS Number : 0626R  LungLife AI, INC  27 February 2023

LungLife AI, Inc.

(the "Company" or "LungLife")

 

Nodule evaluation using LungLB® projected to be cost-effective in US
healthcare system

 

Data strongly support payor coverage of indeterminate lung nodule evaluation
using LungLB® in peer-reviewed publication in the Journal of Medical
Economics

 

LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung
cancer, announces a draft publication of a cost-effectiveness analysis ("CEA")
model on LungLB® which provides evidence that the test can be utilised as a
cost-effective alternative compared to the current diagnostic pathway. Once
the final publication as a Version of Record is issued a further announcement
will be made.

 

The principal aim of the research was to explore the incremental
cost-effectiveness of LungLB® when added to the current clinical diagnostic
pathway for patients with lung nodules, as described in guidelines(1). The
greater cost savings in the model were demonstrated by a reduction in
unnecessary procedures and better patient outcomes from reduced delays in
treatment.

 

Incremental Cost-Effectiveness Ratio (ICER) is a key metric used in the
publication to demonstrate cost effectiveness. Integration of LungLB® leads
to improvement in outcomes and results in an ICER that was 25% below the
willingness to pay (WTP) threshold commonly considered by US commercial
payors, suggesting overall savings when LungLB® is priced at $2,300 per test.
ICERs remain below WTP thresholds at prices up to $3,647 per test.

 

(1)Evaluation of individuals with pulmonary nodules: when is it lung cancer?
Diagnosis and Management of lung cancer, 3(rd) ed: American College of Chest
Physicians evidence-based clinical practice guidelines.

 

Commenting, Paul Pagano, Chief Executive Officer of LungLife, said: "This
health economics publication advances our progress towards supporting payor
coverage of LungLB®, and is in-line with the pricing of $2,030 recently
assigned to the test by the Centers for Medicare and Medicaid Services."

 

CEA examines the costs associated with health outcomes when a new intervention
is compared to a standard care pathway. Both public and private payors often
use CEA to determine how much it would cost to implement the new intervention.
The model was developed in collaboration with a third-party, Avalon Health
Economics.

 

 

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
 Virginia Bull / Cameron MacRitchie / Lydia Zychowska

 Walbrook PR Limited                                      Tel: +44 (0)20 7933 8780 or LungLifeAI@walbrookpr.com
                                                         (mailto:LungLifeAI@walbrookpr.com)
 Stephanie Cuthbert / Alice Woodings / Phillip Marriage  Mob: 07980 541 893 / 07407 804 654 / 07867 984 082

 

 

About LungLife

LungLife AI is a developer of clinical diagnostic solutions designed to make a
significant impact in the early detection of lung cancer, the deadliest cancer
globally. Using a minimally invasive blood draw, the Company's LungLB® test
is designed to deliver additional information to clinicians who are evaluating
indeterminate lung nodules. For more information visit www.lunglifeai.com
(http://www.lunglifeai.com)

 

Our Purpose is to be a driving force in the early detection to lung cancer.
And our Vision is to invert the 20:80 ratio such that in years to come at
least 80% of lung cancer is detected early.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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