LOUISVILLE, Ky.--()--PGXL Laboratories and Essential Molecular Testing Corporation have formed a long term distribution partnership. The joint-venture, PGXL Partners, gives the pharmacogenetics laboratory experienced sales professionals to retail its drug sensitivity testing.
“This is the kind of impact PGXL’s tests can have”
“This partnership gives PGXL national distribution,” says Dr. Roland Valdes, Jr., President of PGXL. “We’ve jumped from selling hundreds of tests a month to thousands. We’ve spent seven years building the scientific and technological infrastructure to handle the explosive growth we believed was coming. Better than anyone else, we know what physicians need to use Personalized Medicine to help their patients.”
Scott Goodman, president of Essential Molecular, has helped build four previous medical technology start-up companies to standard-of-care adoption. He believes Pharmacogenetics is going to revolutionize medical care.
“I learned early-on it always needs to be about the patient,” Goodman says. “When looking at start-up technologies the driving force always has to be improved quality of care. Then I evaluate the business side. PGXL has both. The genetic information they provide improves patients’ lives and presents an enormous business opportunity.”
Pharmacogenetic testing is one of the building blocks of Personalized Medicine. Properly interpreted, genetic information helps doctors identify precisely the right drug and dosage to reach an optimal therapeutic outcome. The practice has particular impact on the treatment of depression, cardio-vascular diseases, cancer, and chronic pain.
A recent study by The Mayo Clinic and the prescription management company Medco concluded that healthcare systems could cut the rate of hospitalization of certain patients by a third. Looking just at patients taking warfarin, a commonly prescribed anticoagulant associated with bleeding risk, the study found “strong evidence” that incorporating genetic information into diagnosis and treatment substantially improved patient care, and that “the differences…cannot be attributed to factors other than the genotyping intervention.”
“This is the kind of impact PGXL’s tests can have,” says Valdes. “And the benefit goes well beyond cost. The human impact of precision medicine, of eliminating trial and error from the dosing of drugs, is enormous.”
The partnership between PGXL and Essential Molecular began to take shape in May. All representatives are put through extensive training in pharmacogenetics and its applicability to the different medical specialties.
“One of our physicians recently told us the pharmacogenetic test he ordered saved the life of one of his patients,” says Goodman. “If that doesn’t motivate you, nothing will.”
By the end of 2012, PGXL will have performed more than 50,000 pharmacogenetic tests ordered through PGXL Partners.
About PGXL Laboratories:
A privately-owned business located in Louisville, Kentucky, PGXL Laboratories was the first lab in the country CLIA-certified specifically to conduct pharmacogenetic tests. It offers pharmacogenetic testing, interpretive services, and assay design and validation. Along with its clinical practice, PGXL performs contract research for developers of pharmaceuticals and medical equipment.