MLS to market Biocept’s proprietary liquid biopsy testing platform in key sales territories, with potential to expand the agreement in the future
SAN DIEGO (October 3, 2017) – Biocept, Inc. (NASDAQ: BIOC), a leading commercial provider of liquid biopsy tests designed to provide physicians with clinically actionable information to improve the outcomes of cancer patients, announces that it has entered into a Promotion and Marketing Agreement with Miraca Life Sciences, Inc. (MLS) to market Biocept’s Target Selector™ liquid biopsy tests and services to community-based oncologists and hematologists in specified sales territories in the United States. Based on the Agreement, MLS’ sales professionals will promote Biocept’s Target Selector testing to both their existing and new clinician clients in the specified sales territories. Biocept will perform all tests in its CLIA-certified laboratory in San Diego.
Biocept’s Target Selector platform offers a best-in-class solution for the community oncologist, with tests that are focused on NCCN-actionable biomarkers, offer market-leading sensitivity, and are accessible to patients through most health plans.
“By working with Biocept, MLS can offer our clinician clients an advanced liquid biopsy solution,” said Tom Zaves, Senior Vice President of Strategic Operations for MLS. “This addition enables Miraca to provide comprehensive genomic profiling through both tissue and liquid biopsy, which we believe supplies better information for the referring oncologist. This can lead to more effective treatment selection and ultimately result in better outcomes for patients with cancer.”
“A major objective for Biocept is to increase the adoption of our Target Selector testing services globally, and we believe that this agreement will enable us to expand our service offering in the U.S. market with the help of Miraca Life Sciences, a leading diagnostics laboratory and service provider,” said Biocept’s President and Chief Executive Officer Michael Nall. “An important aspect of this relationship is the synergy that we expect to generate between MLS’s current lab service offering and our liquid biopsy platform. We look forward to working with the MLS team to establish a successful relationship in the initial sales territories under our agreement, with the opportunity for expansion across the U.S.”
About Miraca Life Sciences
Miraca Life Sciences provides proven high-quality anatomic and clinical pathology services, focusing on the fields of gastroenterology, dermatology, hematology, urology, and breast health. Miraca Life Sciences’ team of more than 80 distinguished subspecialist pathologists utilizes state-of-the-art laboratories to serve more than 5,500 patients every day. Miraca Life Sciences’ difference is based on consensus-based medicine (including comprehensive sub-subspecialization, unified terminology and criteria, daily consensus conferences, disease-focused projects, and extensive educational activities), rigorous quality assurance, active clinical research, innovation in testing, technological advancements, and health IT consulting services for clinician clients. Headquartered in Irving, Texas, Miraca Life Sciences is a subsidiary of Miraca Holdings Inc., one of Japan’s largest clinical diagnostics and laboratory testing service providers. Avista Capital Partners has agreed to acquire Miraca Life Sciences from Miraca Holdings Inc., and the transaction is expected to close in the fourth quarter of 2017. For more information, visit www.MiracaLifeSciences.com.
Biocept, Inc. is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma. The Company leverages its proprietary liquid biopsy technology to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with cancer. Biocept’s patented Target Selector™ liquid biopsy technology platform captures and analyzes tumor-associated molecular markers in both circulating tumor cells (CTCs) and in circulating tumor DNA (ctDNA). With thousands of tests performed, the platform has demonstrated the ability to identify cancer mutations and alterations to inform physicians about a patient’s disease and therapeutic options. For additional information, please visit www.biocept.com.
Forward-Looking Statements Disclaimer Statement
This news release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to be correct. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project,” or the negative of these words or other variations on these words or comparable terminology. To the extent that statements in this news release are not strictly historical, including, without limitation, statements as to our ability to identify specific clinical conditions or improve the outcomes of cancer patients, our ability to increase the adoption of our Target Selector testing services in the U.S. and globally, our ability to create synergies between MLS’s current lab service offering and our liquid biopsy platform, our ability to expand the number of sales territories covered by the agreement with MLS, and the financial impact of new contracts, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous risk factors as set forth in our Securities and Exchange Commission (SEC) filings. The effects of such risks and uncertainties could cause actual results to differ materially from the forward-looking statements contained in this news release. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law. Readers are advised to review our filings with the SEC at www.sec.gov.
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