Benzinga | Jun 22, 2021 08:04AM EDT

HTG Molecular Diagnostics Receives First Commercial Orders For Planned HTG Transcriptome Panel, Signs 2 European Early Adopter Program Deals, No Terms Disclosed

HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) (HTG), a life science company whose mission is to advance precision medicine, today announced it has received the first commercial orders for its planned HTG Transcriptome Panel and has signed agreements with its first two Early Adopter Program (EAP) collaborators in Europe. HTG has now signed EAP agreements with customers in both the US and Europe and continues to progress toward its planned third quarter 2021 commercial launch of its HTG Transcriptome Panel, designed to measure approximately 20,000 mRNA targets using the HTG EdgeSeq technology.

Entering into additional EAP agreements with new and existing customers allows for additional studies which HTG believes will support validation of the HTG Transcriptome Panel's performance requirements. This program also provides these collaborators with access to this panel in advance of the planned commercial launch in the third quarter of 2021. Through this process HTG has also received its first commercial orders for the HTG Transcriptome Panel from EAP collaborators and has signed EAP agreements with customers in both the US and Europe.

"Several prestigious cancer centers and research institutions throughout the US and Europe have expressed interest in our planned HTG Transcriptome Panel and are now participants or have indicated their intention to participate in the EAP. In the past week, we executed EAP agreements with Fundaci?n Instituto Valenciano de Oncologia (Valencia, Spain) and Tyrolpath Obrist Brunhuber GmbH (Zams, Austria), two top European institutions at the leading edge of precision medicine solutions, with a focus on the use of novel technologies like our HTG EdgeSeq technology," said Byron Lawson, Senior Vice President and Commercial Officer.

"We believe our first commercial orders for the HTG Transcriptome Panel in advance of our official launch demonstrates significant enthusiasm about the opportunities for this panel. We are very pleased to have initial orders from customers in both the US and Europe, and in both the academic and biopharma sectors," Mr. Lawson continued.