On March 21, 2022 Theralink Technologies (OTC: THER) ("Theralink" or the "Company"), a precision medicine company with a patented, novel phosphoprotein-based assay for breast cancer reported that the American Medical Association (AMA) has recently issued a new, dedicated Proprietary Laboratory Analyses (PLA) code for the Theralink Assay for Advanced Breast Cancer (Press release, Theralink Technologies, MAR 21, 2022, View Source [SID1234610497]). The Theralink assay measures the tumor cell levels of activated proteins, which are the primary targets of most FDA-approved therapies and biopharmaceutical investigational drugs. The new PLA code is 0249U. In addition, Theralink has submitted information to the appropriate Medicare Administrative Contractors (MAC’s) that will help them in establishing an appropriate rate for the Theralink test.
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The Theralink Assay combines two well-established technologies: Laser Capture Microdissection (LCM) and Reverse Phase Protein Array (RPPA). This combination of technologies identifies activated proteins that are the direct targets of cancer precision medicine therapies from enriched tumor material. As a result, Theralink can provide oncologists with a potential predictive molecular tool that may aid in the selection of appropriate therapies.
"We are extremely pleased that the AMA has approved a unique PLA code for our Theralink Assay for Advanced Breast Cancer," said Mick Ruxin, M.D., President & CEO of Theralink Technologies. "This is another important milestone for our company." Dr. Ruxin went on to say, "It also may provide incremental financial value to the Company as we intend to start billing with the new PLA code and its associated rate in the future".