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Company’s Newest Platform Accelerates Biomedical Research, Creates Opportunity for Hospitals and Labs Nationwide

Lexington, Mass – May 5, 2015 – iSpecimen, a trusted source of customized human biospecimen collections, today released its latest technology that connects biomedical researchers to high quality, annotated human biospecimens that would otherwise be discarded by hospitals and labs after clinical testing is complete. Through this model, researchers gain access to the specimens they need from the patients they want and healthcare providers gain a new opportunity to contribute to biomedical research while improving their bottom line.

Each year, millions of human biospecimens are destroyed in hospitals and labs but could be put to good use to fuel therapeutic and diagnostic research. At the same time, life science researchers are facing a dearth in supply of high quality, annotated human biospecimens with a striking 81% reporting in a National Cancer Institute study that they limit the scope of their research due to the shortage of quality biospecimens. This is in large part due to the fact that researchers today typically must obtain specimens via a fragmented set of biorepositories and laboratories – a process that is difficult and time-consuming and often leads to specimens of varying quality levels.

Enter the iSpecimen solution. iSpecimen has created the first marketplace of its kind that watches the flow of soon-to-be-discarded specimens across its network of hospitals and commercial laboratories, and matches researchers to the samples they need.  Researchers gain access to millions of patients and their clinical and anatomical specimens flowing through the healthcare system, including blood, serum, plasma, urine, tissue blocks, and slides. These specimens are selectable based upon specific patient and specimen criteria made available through de-identified electronic medical record (EMR) data, including specimen type, test results, demographics, diagnoses, and medications. iSpecimen holds no inventory, focusing its state-of-the-art technology on taking specimens straight from the lab to the bench in a manner compliant with the federal rules and regulations that cover their use, including HIPAA.

“Customized requests for biospecimens are surging as personalized medicine continues to take off,” said Chris Ianelli, MD, PhD, Founder and CEO of iSpecimen. “Beyond furthering scientific developments, iSpecimen is committed to bringing a trusted approach to a process that right now lacks structure. Research shows that patients understand the importance of helping research and largely support the use of their de-identified specimens, but it must be done in a manner that protects patient privacy. iSpecimen’s technology allows patients to donate their specimens to research and enables hospitals and scientists to compliantly use them, which ultimately leads to better healthcare for all.”

iSpecimen’s proprietary, cloud-based platform is already implemented at dozens of hospital and lab sites nationwide. Founded in 2009, the company has spent the last several years successfully delivering biospecimens to researchers who need them, while helping hospitals monetize material that has long been going to waste. This latest iteration of iSpecimen’s technology is differentiated by the vast amount of de-identified EMR data that is now available and searchable as well as the speed and scope with which it can operate, by way of big data analytics. By aggregating labs, biorepositories, and other organizations with access to patient specimens into one pool from which to pull, the technology consolidates, sorts, and procures a wealth of specimens and data for the myriad organizations that need them, serving as a one-stop source for biotech, pharma, and academic institutions.

“We launched our biorepository almost seven years ago,” said Kurt Waldhuetter, Vice President of Aurora Research Institute. “Progressively, it has grown to become one of the nation’s most comprehensive and diverse biorepositories, spanning a wide range of patient demographics and medical conditions. Interfacing with iSpecimen’s technology has allowed us to leverage this extensive effort of making more human biospecimens available for research that will ultimately lead to improving health of individuals and populations globally.”

“As we expand our reach within the biotech industry we recognized right away the value in partnering with and investing in iSpecimen,” said Bud Scholl, Chief Strategy Officer for OneBlood. “They have created a game-changing solution that is a win-win for everyone.”

About iSpecimen
Privately held and headquartered in Lexington, Mass., iSpecimen is a trusted, one-stop source of customized human biospecimen collections. Compliantly sourced from our diverse partner network of hospitals, labs, and other healthcare organizations, our solid and liquid biospecimens are delivered directly into the hands of biomedical researchers using unique, turnkey technology. Scientists gain access to a ready supply of the high quality, annotated human biospecimens they need from the patients they want. Supply partners gain an opportunity to further contribute to biomedical discovery, as well their bottom line. Ultimately, healthcare advances for all. For more information about iSpecimen, please visit www.ispecimen.com.

Media Inquiries:
Kiran Ganda
Director of Marketing
iSpecimen
781-301-6696
kganda@www.ispecimen.com