REG - Verici Dx PLC - Grant of two CPT Codes by AMA

Verici DxAnnouncement

04/01/2022 07:00

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RNS Number : 2489X  Verici Dx PLC  04 January 2022

Verici Dx plc

("Verici Dx" or the "Company")

 

American Medical Association grants Verici Dx two CPT® Codes

 

CPT Codes facilitate reimbursement and represent first milestone on pathway to
commercialisation

 

Verici Dx plc (AIM: VRCI), a developer of advanced clinical diagnostics for
organ transplant, announces it has been granted CPT® Proprietary Laboratory
Analyses ("PLA") codes(1,2) for both its Clarava and Tuteva tests by the
American Medical Association ("AMA"). The new codes have been approved and
published by the AMA Editorial Panel and are scheduled to become effective on
April 1, 2022.

 

Patti Connolly, Executive VP, Product Development of Verici Dx, said: "We were
delighted with the AMA's decision as CPT® codes are fundamental in the
commercialisation of our lead products."

 

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® PLA 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.

 

Notes:

 

1    Current Procedural Terminology (CPT) codes are medical codes that are
used to report medical, surgical, and diagnostic procedures and services to
entities such as physicians, health insurance companies and accreditation
organizations.  CPT codes are also used for administrative management
purposes such as claims processing and developing guidelines for medical care
review.

 

2    PLA codes are CPT codes including a corresponding descriptor for
laboratories or manufacturers that want to identify their test more
specifically.

 

Enquiries:

 

 Verici Dx                                                www.v (http://www.vericidx.com) ericidx (http://www.vericidx.com) .com
                                                          (http://www.vericidx.com)
 Sara Barrington, CEO                                     Via Walbrook PR
 Julian Baines, Chairman

 Singer Capital Markets (Nominated Adviser & Broker)      Tel: 020 7496 3000
 Aubrey Powell / Kailey Aliyar / Tom Salvesen

 Walbrook PR Limited                                      Tel: 020 7933 8780 or vericidx@walbrookpr.com
                                                          (mailto:renalytix@walbrookpr.com)
 Paul McManus / Sam Allen                                 Mob: 07980 541 893 / 07502 558 258

 

 

About Verici Dx plc www.vericidx.com (http://www.vericidx.com)

Verici Dx is a developer of a complementary suite of leading-edge tests
forming a kidney transplant platform for personalised patient and organ
response risk to assist clinicians in medical management for improved patient
outcomes.  The underlying technology is based upon artificial intelligence
assisted transcriptomic analysis to provide RNA signatures focused upon the
immune response and other biological pathway signals critical for transplant
prognosis of risk of injury, rejection and graft failure from pre-transplant
to late stage.  The Company also has a mission to accelerate the pace of
innovation by research using the fully characterised data from the underlying
technology and collaboration with medical device, biopharmaceutical and data
science partners.

 

The foundational research was driven by a deep understanding of cell-mediated
immunity and is enabled by access to expertly curated collaborative studies in
highly informative cohorts in kidney transplant.

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