Plus Therapeutics Enhances CNSide® Platform for Cancer Diagnosis

Strategic Updates on CNSide® Diagnostic Platform

Plus Therapeutics, Inc. (NASDAQ: PSTV), a leading clinical-stage pharmaceutical company, has shared exciting developments surrounding the CNSide Diagnostic Platform. These updates signify a major step towards enhancing the commercial readiness and diagnostic capabilities while expanding their manufacturing reach.

Leadership Changes to Drive Commercial Strategy

The company has made significant appointments in its leadership structure aimed at boosting commercialization efforts. Russ Havranek has stepped up as Executive Vice President of Commercial and Corporate Strategy, tasked with steering the commercial strategy’s implementation. Daniel Ortega is now the Vice President of Development and Technical Operations, focusing on the diagnostic capabilities essential for effective operations.

Ambitious Plans for CNSide

In a recent statement, Marc H. Hedrick, M.D., the President and CEO of Plus Therapeutics, emphasized that the promotions of Havranek and Ortega will be instrumental in tackling the pressing medical needs associated with CNS cancers. Their leadership is expected to mobilize the organization towards achieving its operational and commercial objectives.

Recent Achievements in Commercial Expansion

CNSide officially launched its commercial endeavors in a significant market after securing the necessary CLIA accreditation for its laboratory. Their goal is to enhance the coverage by commercial payors, ensuring broader access to their products and services. Recently, CNSide entered into a national policy agreement with UnitedHealthcare, which impacts over 51 million people across the United States, aiming to extend access to essential diagnostic tests.

Areas of Active Commercial Progress

The ongoing commercial development initiatives include:

• Submitting state license applications as needed.
• Engaging in the reimbursement code solicitation for lab analyses.
• Negotiating commercial payor contracts.
• Expanding operations with new hires in various key areas including marketing and sales.
• Developing partnerships to fortify back office capabilities.

“Recent months have been a testament to our commitment and focus on improving patient outcomes for those battling CNS metastatic cancers,” remarked Russ Havranek. “The positive feedback from major cancer centers highlights the promising potential of our CNSide CSF assay platform.”

Enhancements to Manufacturing and Diagnostics

In tandem, CNSide and Plus Therapeutics are excited to unveil their new state-of-the-art laboratory located within the Texas Medical Center, recognized as the largest medical hub globally. This new facility significantly increases their capacity for conducting clinical diagnostics as well as production. The lab's strategic location allows for collaboration with institutions dedicated to groundbreaking medical research.

Recognizing a New Era of Innovation

The laboratory in Levit Green will not only serve as a research and testing facility but will also act as a catalyst for innovation within the medical community.

“We aim for both commercial excellence and innovation centered around patients,” stated Daniel Ortega. “This facility offers the ideal environment to enhance our operations and collaborate on significant scientific advancements.”

About CNSide Diagnostic, LLC

CNSide Diagnostic, a subsidiary of Plus Therapeutics, is committed to developing proprietary laboratory-developed tests. The CNSide® platform specifically targets identifying tumor cells that have metastasized to the central nervous system in patients. This quantitative analysis enhances treatment outcomes for individuals dealing with leptomeningeal metastases.

About Plus Therapeutics, Inc.

Based in Houston, Plus Therapeutics specializes in creating targeted radiotherapeutics aimed at hard-to-treat CNS cancers. Their innovative approach combines advanced drug delivery systems with localized radiation strategies, fundamentally geared towards improving clinical outcomes for patients. The company is also working on an array of promising product candidates formulating a strong pipeline that targets recurrent glioblastoma and leptomeningeal metastases.

Frequently Asked Questions

What is the CNSide Diagnostic Platform?

The CNSide Diagnostic Platform is designed to identify tumor cells metastasized to the central nervous system, aiding in treatment management.

Who leads the commercialization efforts of CNSide?

Russ Havranek has been appointed as Executive Vice President, overseeing commercialization strategy for CNSide.

Where is the new laboratory for CNSide located?

The new state-of-the-art laboratory is located in the Texas Medical Center, which is known as the largest medical center in the world.

What impact does UnitedHealthcare's agreement have?

The agreement allows CNSide tests to be accessible to over 51 million people, enhancing coverage and support for impacted patients.

What are the future plans for Plus Therapeutics?

The company intends to focus on expanding their diagnostic capabilities while exploring new therapeutic solutions for CNS cancers.

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