Final Pricing Determination

RNS Number : 0001I

LungLife AI, INC

30 November 2022

 

LungLife AI, Inc.
(the "Company" or "LungLife")

Final Pricing Determination

Medicare Grants Pricing for LungLife's LungLB® Early Lung Cancer Diagnostic

LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung cancer, announces that the Centers for Medicare & Medicaid Services ("CMS") has granted a price at $2,030 per test for the LungLB® early lung cancer detection diagnostic.  This final CMS payment determination will be listed in the Calendar Year 2023 Clinical Laboratory Fee Schedule (CLFS) and will apply to all eligible Medicare patients tested by LungLB®.

Medicare, a national health insurance program in the US, covers 63.9 million lives and indeterminate lung nodules are often found in patients of an age typically covered by Medicare. The determination to crosswalk means Medicare beneficiaries will now have a national price for the LungLB® test effective as of January 1, 2023. This represents completion of a key Company milestone as it supports the plan to seek comprehensive reimbursement for the test.

Paul Pagano, CEO for LungLife said: "This is a major commercial milestone for LungLB® and brings us closer to delivering the test to the people who need it most. We are very pleased to have secured a favourable crosswalk decision which creates added certainty and avoids a year long process of determining price as would be the case under gapfill."

For further information please contact:

LungLife AI, Inc.	www.lunglifeai.com
Paul Pagano, CEO	Via Walbrook PR
David Anderson, CFO
Investec Bank plc (Nominated Adviser & Broker)	Tel: [phone]
Daniel Adams / Virginia Bull / Cameron MacRitchie
Walbrook PR Limited	Tel: [phone] or  [e-mail]
Paul McManus / Alice Woodings / Phillip Marriage	Mob: [phone]

About LungLife AI

LungLife AI is a developer of clinical diagnostic solutions designed to make a significant impact in the early detection of lung cancer, the deadliest cancer globally. Using a minimally invasive blood draw, the Company's LungLB® test is designed to deliver additional information to clinicians who are evaluating indeterminate lung nodules. For more information visit www.lunglifeai.com

 

END

 

 

MSCFEIEFUEESESF