SAN DIEGO, Oct. 12, 2020 (GLOBE NEWSWIRE) — Exagen Inc. (Nasdaq: XGN), an organization dedicated to transforming the care continuum for patients suffering from autoimmune diseases, today announced the publication of a study evaluating the economic benefits AVISE® Lupus testing, titled “Evaluation of the Economic Benefit of Earlier Systemic Lupus Erythematosus (SLE) Diagnosis using a Multivariate Assay Panel (MAP)” in ACR Open Rheumatology.
Lead author Dr. Ann Clarke, Professor and Arthritis Society Chair in Rheumatic Diseases at the Cumming School of Medicine, University of Calgary, stated, “It is widely known there are varying limitations to the decades-old standard diagnostic tests for SLE, and these findings support the clinical need for an improved SLE diagnostic test.”Key advancements and findings:First ever evaluation of the economics of diagnosing SLE with AVISE® Lupus (MAP) compared to Standard Diagnostic Laboratory Tests (SDLTs) in a hypothetical cohort of 1,000 suspected SLE patientsOver the four-year time horizon AVISE Lupus demonstrated an estimated total direct cost savings of $1,991,152, or $1,991 per patientYear 1 savings of $655,403, or $655 per eligible patient, with the use of AVISE® Lupus, which aligns with early benefit to health plans looking for savings in the first year
“We are proud to provide in collaboration with leading health economic experts the first ever published data demonstrating the economic benefit of AVISE® Lupus compared to SDLTs,” said Ron Rocca, President and CEO of Exagen. “Patients suffering from SLE face significant health disparities, and it is well established that earlier diagnosis often leads to improved patient outcomes. This study quantifies the added economic benefit of early intervention in the treatment of this hard-to-diagnose disease.”The diagnosis of SLE is complicated and it takes on average over six years after seeing more than four health care providers; AVISE® Lupus provides a valuable tool to accelerate the diagnosis process. The AVISE® Lupus algorithmic two-tier index utilizes Exagen’s proprietary Cell-Bound Complement Activation Products (CB-CAPs), combined with SLE associated markers, to provide a diagnostic tool with greater sensitivity over C3/C4 and anti-dsDNA and greater specificity over antinuclear antibody (ANA).ACR Open Rheumatology is a peer-reviewed, open access official journal of the American College of Rheumatology. It publishes specialized articles reporting on original investigations of various aspects of rheumatology-related research including basic science, clinical science, epidemiology, health outcomes, and education, as well as reviews and commentaries in the field of rheumatology and related disciplines.About Exagen Inc.Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE® brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable rheumatologists to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune related diseases, including rheumatoid arthritis and lupus. For further information please visit www.exagen.com.Forward Looking StatementsExagen cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the Company’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the the potential for AVISE® Lupus to provide added economic benefit to payors and lead to additional test adoption; and the ability of the AVISE® Lupus test to help physicians with earlier diagnosis often leading to improved patient outcomes. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect our business, financial condition and results of operations; Exagen’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products and promoted therapeutics among rheumatologists, patients, third-party payers and others in the medical community; third party payers not providing coverage and adequate reimbursement for the company’s testing products or promoted therapeutics; the company’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting the company’s business; risks associated with maintaining third-party partnerships and Exagen’s performance thereunder; and other risks described in the Company’s prior press releases and in the Company’s filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in the company’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.CONTACTS:InvestorsWestwicke PartnersMike CavanaughMike.Cavanaugh@westwicke.com646.677.1838Company ContactExagen Inc.Kamal Adawi, Chief Financial OfficerKAdawi@exagen.com760.477.5514
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