Progenics Pharmaceuticals Announces Collaboration with Veterans Affairs on the AI Research Program for Medical Image Analysis

NEW YORK and WASHINGTON, July 25, 2019 (GLOBE NEWSWIRE) -- Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX), an oncology company developing innovative medicines and imaging technology for targeting and treating cancer, announced their collaboration with the VA Greater Los Angeles Healthcare System (VAGLAHS) on Progenics’ AI research program. The collaborative AI research program aims to apply machine learning to medical imaging modalities, enabling standardized, information-driven healthcare practices in prostate cancer. The project is the nation’s first collaborative effort to validate cutting-edge machine learning tools for improving treatment management of Veterans with prostate cancer.

“We are pleased to be collaborating with the VAGLAHS and Dr. Matthew Rettig, Chief of Hematology-Oncology, on the AI imaging platform, bringing together the largest integrated healthcare network in the U.S. with the leader in prostate cancer detection and monitoring,” said Mark Baker, Chief Executive Officer of Progenics. “Progenics’ AI research program will provide the VAGLAHS, and in the future, the entire VA, with standardized, quantitative information to improve the quality of life, care and treatment of our Veterans with prostate cancer. We believe that artificial intelligence can be applied successfully to automate the segmentation, classification, and quantification of tumors, thereby enabling improved treatment decisions for men with prostate cancer.”

In the project, the VAGLAHS network will gain access to Progenics’ machine learning platforms, which includes the automated Bone Scan Index (aBSI) and the PSMA-AI platforms. The collaboration would explore novel predictive machine learning algorithms from the digital medical images and its associated clinical outcomes. These novel algorithms would be prospectively validated at VAGLAHS for effective healthcare management of Veterans with prostate cancer.

Data Privacy and Security

The research collaboration will take every step necessary to protect the Veteran’s data. All image and associated clinical data would be anonymized before being processed by the Progenics’ AI platform. Progenics’ AI platform is designed, developed, deployed and maintained according to cybersecurity guidance; NIST cybersecurity framework, the Open Web Application Security Project (OWASP).  All data handled by the platform is encrypted in transit and at rest.

About Progenics

Progenics develops innovative medicines and other technologies to target and treat cancer, including: therapeutic agents designed to treat cancer (AZEDRA^®, 1095, and PSMA TTC); prostate-specific membrane antigen (“PSMA”) targeted imaging agents for prostate cancer (1404 and PyL^TM); and imaging analysis technology. Progenics has two commercial products, RELISTOR^® (methylnaltrexone bromide) subcutaneous injection for the treatment of opioid-induced constipation, which is partnered with Salix Pharmaceuticals, Inc. (a wholly-owned subsidiary of Bausch Health Companies Inc. (formerly known as Valeant Pharmaceuticals International, Inc.)); and AZEDRA, for the treatment of patients with unresectable, locally advanced or metastatic pheochromocytoma or paraganglioma (rare neuroendocrine tumors of neural crest origin) who require systemic anticancer therapy.

About VHA

The Veterans Health Administration is the largest agency within the U.S. Department of Veterans Affairs. The VHA is America’s largest integrated health care system, providing care at 1,240 health care facilities, including 170 medical centers and 1,061 outpatient sites of care of varying complexity (VHA outpatient clinics), serving 9 million enrolled Veterans each year.

This press release contains "forward-looking statements" regarding future events. Statements contained in this communication that refer to Progenics' estimated or anticipated future results or other non-historical facts are forward-looking statements that reflect Progenics' current perspective of existing trends and information as of the date of this communication. Forward looking statements are generally accompanied by words such as "anticipate," “aims,” "believe," "plan," "could," "should," "estimate," "expect," "forecast," "outlook," "guidance," "intend," "may," "might," "will," "possible," "potential," "predict," "project," or other similar words, phrases or expressions. Such statements are predictions only, and are subject to risks and uncertainties that could cause actual events or results to differ materially. These risks and uncertainties include, among others, market acceptance for approved products; the cost, timing and unpredictability of results of clinical trials and other development activities and collaborations; the effectiveness of the efforts of our partners to market and sell products on which we collaborate and the royalty revenue generated thereby; generic and other competition; the possible impairment of, inability to obtain and costs of obtaining intellectual property rights; possible product safety. data privacy or product efficacy concerns, general business, financial, regulatory and accounting matters, litigation and other risks. More information concerning Progenics and such risks and uncertainties is available on its website, and in its press releases and reports it files with the U.S. Securities and Exchange Commission, including those risk factors included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2018, as updated in its subsequent Quarterly Reports on Form 10-Q. Progenics is providing the information in this press release as of its date and, except as expressly required by law, Progenics disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or circumstances or otherwise.

Additional information concerning Progenics and its business may be available in press releases or other public announcements and public filings made after this release. For more information, please visit www.progenics.com. Information on or accessed through our website or social media sites is not included in the company's SEC filings.

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