Applied Proteomics Inc.™ Enters Into Agreement With MultiPlan, Inc. To Provide Reimbursement For Its SimpliPro Colon™ Test

SAN DIEGO, May 2, 2017 /PRNewswire/ -- Applied Proteomics Inc. (API), an innovation technology company that leverages the power of the proteome for monitoring health and early detection of disease, today announced it has signed an agreement with MultiPlan, Inc., the industry's most comprehensive provider of healthcare cost management solutions, to join its PHCS Network, MultiPlan Network, MultiPlan Workers' Compensation Network, MultiPlan Auto Medical Network and ValuePoint by MultiPlan.  The 50-75 million people who use MultiPlan's networks will have access to the SimpliPro Colon test.

API's SimpliPro Colon test is a blood-based test that assesses the risk for colorectal cancer and advanced adenoma in elevated risk patients. The test is the first commercial application resulting from API's Linus™ technology — a proprietary protein discovery and test delivery engine — and has been utilized by physicians across the nation since its launch in December 2015.

"Signing this agreement with MultiPlan further validates that Linus can power commercial applications that benefit the patient and reduce the cost to the overall healthcare system," said Premal Shah, PhD, CEO of Applied Proteomics Inc. "This agreement increases patient access to utilize the SimpliPro Colon test, and will help save lives by aiding in detecting colorectal cancer earlier for patients that refuse or have been delaying colonoscopy, the standard of care."

About MultiPlan, Inc.
MultiPlan is committed to helping healthcare payers manage the cost of care, improve their competitiveness and inspire positive change. Leveraging sophisticated technology, data analytics and a team rich with industry experience, the company interprets clients' needs and customizes innovative solutions that combine its payment integrity, network-based and analytics-based services. MultiPlan is a trusted partner to over 700 healthcare payers in the commercial health, property and casualty, and government markets, and saves these companies more than $14 billion annually. MultiPlan is owned by Hellman & Friedman and other investors. For more information, visit multiplan.com.

About Applied Proteomics Inc.
Applied Proteomics Inc. develops noninvasive, blood-based tests that leverage the power of the proteome — the body's complete system of proteins — for monitoring and early detection of disease. Our proprietary Linus technology, a protein discovery and test delivery engine, is focused on isolating relevant signals associated with increased risk of disease in a rapid and cost-effective manner to develop highly sensitive and specific diagnostic tests.

SOURCE Applied Proteomics Inc.