ArcherDX Receives Breakthrough Device Designation to Detect NTRK Gene Fusions

BOULDER, Colo., May 19, 2020 /PRNewswire/ -- ArcherDX, Inc. today announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Device Designation for its next-generation sequencing (NGS) device under development as a companion diagnostic (CDx) to detect neurotrophic receptor tyrosine kinase (NTRK) gene fusions that lead to the formation and growth of cancer. ArcherDX's NGS technology utilizes proprietary Anchored Multiplex PCR (AMP™) chemistry that captures DNA, RNA or ctDNA from both blood and tissue samples regardless of the location of the tumor.

ArcherDX is developing and pursuing regulatory clearances for its NGS diagnostic to help solve for the underutilization of targeted therapies. ArcherDX's technology is designed to enable the use of the diagnostic in community and regional settings where the lack of infrastructure and expertise to implement sophisticated genomic analysis can limit a clinician's ability to optimize therapy for patients through diagnosis, prognosis and therapy selection.

"NTRK gene fusions are notoriously difficult to detect in cancer.i ArcherDX's next-generation sequencing technology uses RNA to provide sensitive NTRK fusion detection without requiring prior knowledge of fusion partners for any solid tumor,i" said Jason Myers, Ph.D., Chief Executive Officer and co-founder of ArcherDX. "Our goal is to develop products to help clinicians receive the right information at the right time to make the right treatment decision."

ArcherDX recently announced a collaboration to develop an NGS-based CDx for a TRK inhibitor.

The Breakthrough Devices Program is a voluntary program intended to expedite the review, development and assessment of certain medical devices that provide more effective treatment or diagnosis of life-threatening or irreversibly debilitating human diseases or conditions for which no approved or cleared treatment exists or that offer significant advantages over existing approved or cleared alternatives.

About ArcherDX
ArcherDX is a leading genomic analysis company democratizing precision oncology through a suite of products and services that are highly accurate, personal, actionable and easy to use in local settings. Our Archer® platform, with our proprietary Anchored Multiplex PCR (AMP™) chemistry at the core, has enabled us to develop industry-leading products and services to optimize therapy and enable cancer monitoring across sample types. We develop and commercialize research use only (RUO) products, are developing in vitro diagnostic (IVD) products, and offer services that meet the unique needs of our customers and their clinical applications. Our RUO product portfolio consists of VariantPlex®, FusionPlex®, LiquidPlex™ and Immunoverse™, which we collectively refer to as ArcherPlex™. IVD products currently in development for solid tumor biomarker identification and Personalized Cancer Monitoring (PCM) have both received Breakthrough Device Designation from the FDA. ArcherDX is headquartered in Boulder, Colorado. Learn more at www.archerdx.com and follow @ArcherDXInc on Twitter, Facebook and LinkedIn.

Forward-Looking Statement
This press release may contain forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "plan," "expect," "predict," "potential," "opportunity," "goals," or "should," and similar expressions are intended to identify forward-looking statements. These forward-looking statements include, among others, statements regarding ArcherDX's goals and strategic plans. Such statements are based on management's current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors. ArcherDX has based these forward-looking statements largely on its current expectations and projections about future events and trends. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Moreover, ArcherDX operates in a competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for its management to predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements it may make. ArcherDX undertakes no obligation to revise or publicly release the results of any revision to such forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.

i Hsiao, S., Zehir, A., Sireco, A. and Aisner, D. Detection of Tumor NTRK Gene Fusions to Identify Patients Who May Benefit from Tyrosine Kinase (TRK) Inhibitor Therapy. The Journal of Molecular Diagnostics. 2019: 21(4):553-571.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/archerdx-receives-breakthrough-device-designation-to-detect-ntrk-gene-fusions-301061603.html

SOURCE ArcherDX

Back to news