LEXINGTON, Mass., Aug. 16, 2023 — iSpecimen Inc. (Nasdaq: ISPC) (“iSpecimen” or the “Company”), an online global marketplace that connects scientists requiring biospecimens for medical research with a network of healthcare specimen providers, today announced that the Company has enhanced its proprietary Marketplace platform to streamline biospecimen matchmaking for researchers and providers. The platform’s new capabilities enable iSpecimen’s Marketplace to efficiently collect and store the most up-to-date data from providers for fulfilling researcher orders at a lower cost. Over 30 unique data points will be collected and tracked, including specimen availability, accessible patient populations, storage and shipping access, viral and genetic testing capabilities and more.
“iSpecimen’s goal is to quickly give researchers access to the precise samples that they need to advance their work,” said Tracy Curley, iSpecimen’s CEO. “Our Marketplace’s new capabilities will expand the breadth of specimen types that the platform provides by retrieving the most up-to-date information on biospecimen and collection capabilities from providers in our network. As matching biospecimen supply to research demand is the foundation of our business, we are committed to continuing to improve our technology to become an even better partner to researchers and providers.”
iSpecimen’s enhanced Marketplace will also help to increase providers’ return on investment by optimizing workflows, enabling better communication, maximizing laboratory potential, and reducing provider fatigue that can result from poor matchmaking abilities.
“As the go-to online Marketplace for researchers in need of biospecimens, iSpecimen is laser-focused on delivering seamless matchmaking between researchers and providers at all times,” added Evan Cox, iSpecimen’s Vice President, Head of Product Management. “We are a technology-driven business that streamlines the specimen procurement process using an online Marketplace platform, rather than freezer banks. These new capabilities allow us to maximize the inventory of our robust global provider network to benefit researchers around the world.”
About iSpecimen
iSpecimen (Nasdaq: ISPC) offers an online marketplace for human biospecimens, connecting scientists in commercial and non-profit organizations with healthcare providers that have access to patients and specimens needed for medical discovery. Proprietary, cloud-based technology enables scientists to intuitively search for specimens and patients across a federated partner network of hospitals, labs, biobanks, blood centers and other healthcare organizations. For more information, please visit www.ispecimen.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the risk factors contained in the Company’s filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. Forward-looking statements speak only as of the date they are made. New risks and uncertainties arise over time, and it is not possible for the Company to predict those events or how they may affect the Company. If a change to the events and circumstances reflected in the Company’s forward-looking statements occurs, the Company’s business, financial condition and operating results may vary materially from those expressed in the Company’s forward-looking statements.
Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact:
Investor Contacts
KCSA Strategic Communications
Phil Carlson / Erika Kay
iSpecimen@kcsa.com
Media Contacts
KCSA Strategic Communications
Raquel Cona / Shana Marino
iSpecimen@kcsa.com
