Precipio signs the first major international service contract

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Contract expected to generate annual revenues of more than $ 1.5 million"data-reactid =" 11 ">Contract expected to generate annual revenues of more than $ 1.5 million

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "NEW HAVEN, Connecticut, April 29, 2019 (GLOBE NEWSWIRE) – Company specialized in cancer diagnosis Precipio, Inc. (NASDAQ: ORPV) today announced the signing of a service contract with a health care management group serving several large hospitals based in Cairo, Egypt. Precipio is committed to providing specialized pathology diagnostic services as well as access to proprietary technologies developed by Precipio. & Nbsp;
"data-reactid =" 12 "> NEW HAVEN, Connecticut, April 29, 2019 (GLOBE NEWSWIRE) – Company specializing in cancer diagnosis Precipio, Inc. (NASDAQ: ORPV) today announced the signing of a service contract with a health care management group serving several large hospitals based in Cairo, Egypt. Precipio is committed to providing both specialized pathology diagnostic services and access to proprietary technologies developed by Precipio.

Initially, the contract provides for the sending of biopsies to a patient for a primary diagnosis and a secondary opinion (consult). Future commercial collaborations will include the establishment of laboratories in Egypt, which will allow Precipio's proprietary technologies to provide liquid-based biopsy assays using ICE-COLD and HemeScreen PCR technology for hematological molecular testing.

Based on historical volumes, Precipio expects significant revenues for the first year. In addition, once Precipio's liquid biopsy and HemeScreen tests are available in Egypt, revenues will be significantly increased through the sale of Precipio's tests. Initial test revenue is expected to start by the end of the second quarter, pending the completion of several configuration, logistics and regulatory tasks.

This service contract is another example of the rapid and efficient deployment of Precipio's global initiative, which enables Precipio to provide leading pathology services while drawing on the expertise of leading cancer pathologists from members of its university network, such as Yale, Harvard and the University of Toronto. Pennsylvania.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Financial impact on Precipio"data-reactid =" 16 ">Financial impact on Precipio

The company expects the consolidated business figure and gross profits for the second half of 2019 will be significantly increased, subject to the completion of the necessary logistical and compliance requirements. As a result, the expected increase in revenue from growth in our domestic operations and global revenue volume will allow Precipio to maximize its economies of scale. Thus, the first estimates project an improvement in the gross margin for the H2-2019 period of 20 to 25 points; while enjoying the prepaid cash aspect of international business (in contrast to the national repayment challenges). As a result, management expects the company's cash flow to decrease as well.

Overall, Precipio anticipates that, taking these factors into account, it is likely that these combined measures will have a positive impact on the company's equilibrium and reduce its capital requirements.

By accessing Precipio's network of expert pathologists, treating physicians can benefit from Precipio's delivery model, which is designed to generate more accurate diagnoses that can lead to more targeted treatment options. In addition, through access to some of the advanced technologies developed by Precipio, Egyptian laboratories could enhance their value proposition for their patients through state-of-the-art testing.

"I am delighted to see the benefits of our global efforts beginning to capitalize on Precipio's platform and technologies and to provide the highest level of expertise to patients around the world," said Ilan Danieli, CEO of Precipio. Precipio. "The international segment of our business will make a significant contribution to our revenues, margins and cash flow in the coming quarters."

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "About Precipio"data-reactid =" 21 ">About Precipio

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Precipio has built a platform designed to eliminate the problem misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and providing quality diagnostic information to physicians and their patients around the world. At the Harvard Dana-Farber Cancer Institute, Precipio offers a new standard of diagnostic accuracy to provide high-level patient care. www.precipiodx.com. "data-reactid =" 22 "> Precipio has set up a platform designed to eliminate the problem of misdiagnosis by exploiting the intellect, know-how and technology developed within academic institutions and providing quality diagnostic information to physicians and their patients worldwide. World-renowned academic institutions specializing in cancer research, diagnosis and treatment, such as Yale School of Medicine and Dana-Farber Haripard Cancer Institute, Precipio offers a new standard of diagnostic accuracy that optimally supports patients. www.precipiodx.com.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Forward-looking statements"data-reactid =" 23 ">Forward-looking statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of federal securities laws, including financial projections, potential market opportunities, projects and prospects, and other statements containing the words "anticipate". "," Intend "," plan "," predict "," will "," may "," may "," should "and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Act The Reform Act of 1995. The Company Actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause a material difference between future results and recent or projected results in forward-looking statements include known risks, uncertainties and other factors described in the Company's Annual Report on Form 10-K. year ended December 31, 2018, as follows: filed April 16, 2019, as well as the Company's prior filings and, from time to time, in subsequent filings with the Securities and Exchange Commission. Any changes in these factors, risks and uncertainties may cause the actual results, events and performances to differ materially from those mentioned in these statements. All information in this press release is from the date of publication and the company assumes no obligation to update this information, including any forward-looking statements, except as required by law.

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