iSpecimen Reports Positive Results on Next Day Quote Program for Researchers and Providers

iSpecimen Reports Positive Results on Next Day Quote Program for

Researchers and Providers

Mass., December 13, 2024 - 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, announced today positive results attributed to its Next Day Quote Program ("NDQ"). This next-day quote service

for researchers and providers is tailored to accelerate the biospecimen transaction process and delivers accurate biospecimen sample pricing

within 24 hours of receiving the customer request. Next Day Quotes are possible to implement only when the Company knows the supplier's

data on their specific capabilities and pricing, as well as understands the customer's requirements.

Recognizing the need for timely access to high-quality

biospecimens to advance life science research, iSpecimen had introduced NDQ to offer researchers and providers with swift and accurate

sample pricing. From fresh whole blood and prescreened mutation-characterized blocks to an array of clinically collected remnant, banked

and prospective biospecimens, most quotes are provided within a day of receiving the inquiry.

Since introducing the program in 2023 and the

recently completed build of a search tool, quotes can be created within minutes. With this capability, the Company's sales mix

has increasingly shifted towards NDQ. In November 2024, 30% of all sales opportunities were Next Day Quotes. Of all quotes that

were generated in November 2024, 48% were Next Day Quotes. Meanwhile, the conversion rate was high for Next Day Quotes. 60% of all

purchase orders were Next Day Quotes.

Leslie Hoyt, Senior Vice President of Operations

commented, "Our customers have responded enthusiastically to iSpecimen's Next Day Quote Program. For the first six months

of the program, NDQ has consistently yielded strong results, driving an estimated 60% of sales. The data continue to show that if we quote

within the next business day, we greatly increase the likelihood of receiving a signed purchase order. Current and future

customers respond positively because time matters."

Ms. Hoyt further commented, "We continue

to enhance our internal databases and search tools to proactively harvest data, ensuring the viability of Next day Quote program while

increasing the frequency with which Next Day Quotes are possible. This offering accelerates our operational timeline and the customer

decision journey. Ultimately next day quotes allow researchers and providers to focus on what matters most, and iSpecimen to be a valuable

service provider for all customers."

(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 SEC, 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.

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