Biocept Enters into Agreement with Alliance Global FZ to Market and Distribute Liquid Biopsy Testing in the Middle East, Southeast Asia, and Africa Region
Expands international distribution of Target Selector™ platform to 17 countries
SAN DIEGO, July 13, 2018 /PRNewswire/ -- 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 patients diagnosed with cancer, announces a provider agreement with Alliance Global FZ, LLC to market and distribute Biocept's Target Selector™ liquid biopsy tests in the United Arab Emirates and select countries in the Middle East, North & Sub-Saharan Africa, and Southeast Asia (MEAA) region. All diagnostic testing services under this agreement will be performed in Biocept's San Diego-based CLIA-certified laboratory with Alliance Global having responsibility for sales, marketing, distribution, and reimbursement of the Company's liquid biopsy platform. Additional terms of the agreement were not disclosed.
"We are pleased to partner with Alliance Global to offer patients diagnosed with cancer access to our patented liquid biopsy testing," said Michael Nall, President and CEO of Biocept. "We now have eight international agreements enabling the distribution of our Target Selector™ tests in 17 countries in addition to the U.S. We are enthusiastic about the opportunities with a capable partner in this important region, and given our strong global intellectual property position, we will continue to be opportunistic in seeking to develop the market for our liquid biopsy solutions internationally."
"Offering Biocept's novel liquid biopsy tests supports our commitment to bringing innovative biomedical products and services to emerging markets, and this agreement reflects Alliance Global's focus on the growing clinical genomics sector in the MEAA region," said Dr. Nassim-Marie Hambouz, Group Director of commercial operations at Alliance Global. "A major focus will be to use Biocept's testing services to support global biopharmaceutical companies in qualifying patients for their targeted therapies. We feel that Biocept's Target Selector™ assays with industry-leading sensitivity are uniquely suited for this application," added Dr. Hambouz.
About Alliance Global
Alliance Global FZ, LLC distributes biomedical products & services in the emerging markets of the Middle East, Africa and Asia (MEAA). The group is dedicated to bringing innovative technologies to researchers, clinicians, and diagnostic users across more than 60 countries in the MEAA region. The group's stated mission is to improve the lives across emerging markets through novel biomedical technologies.
Biocept, Inc. is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma. The Company uses its proprietary liquid biopsy technology to provide physicians with information for treating and monitoring patients diagnosed with cancer. The Company's patented Target Selector™ liquid biopsy technology platform captures and analyzes tumor-associated molecular markers in both circulating tumor cells (CTCs) and in plasma (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 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 have been 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 release are not strictly historical, including without limitation statements as to our ability to improve the outcomes of patients diagnosed with cancer, the utility of our intellectual property position, and our ability to develop the market for our liquid biopsy solutions internationally, 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 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, which can be accessed over the Internet at the SEC's website located at www.sec.gov.
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SOURCE Biocept, Inc.