REG - LungLife AI, INC - Final Pricing Determination

LungLife AIAnnouncement

30/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221130:nRSd0001Ia&default-theme=true

RNS Number : 0001I  LungLife AI, INC  30 November 2022

 

LungLife AI, Inc.

(the "Company" or "LungLife")

 

Final Pricing Determination

Medicare Grants Pricing for LungLife's LungLB® Early Lung Cancer Diagnostic

 

LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung
cancer, announces that the Centers for Medicare & Medicaid Services
("CMS") has granted a price at $2,030 per test for the LungLB® early lung
cancer detection diagnostic.  This final CMS payment determination will be
listed in the Calendar Year 2023 Clinical Laboratory Fee Schedule (CLFS) and
will apply to all eligible Medicare patients tested by LungLB®.

 

Medicare, a national health insurance program in the US, covers 63.9 million
lives and indeterminate lung nodules are often found in patients of an age
typically covered by Medicare. The determination to crosswalk means Medicare
beneficiaries will now have a national price for the LungLB® test effective
as of January 1, 2023. This represents completion of a key Company milestone
as it supports the plan to seek comprehensive reimbursement for the test.

 

Paul Pagano, CEO for LungLife said: "This is a major commercial milestone for
LungLB® and brings us closer to delivering the test to the people who need it
most. We are very pleased to have secured a favourable crosswalk decision
which creates added certainty and avoids a year long process of determining
price as would be the case under gapfill."

 

 

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 / Phillip Marriage    Mob: 07980 541 893 / 07407 804 654 / 07867 984 082

 

About LungLife AI

 

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)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFEIEFUEESESF