Biocept Enters Into Exclusive Distribution Agreement With Global Laboratory Product Supplier VWR
SAN DIEGO, Aug. 14, 2017 /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 cancer patients, announces that it has signed an exclusive global Distribution Agreement excluding China, for the Company's proprietary blood collection tubes (BCTs) with VWR International, LLC (VWR), the leading global independent provider of product and service solutions to laboratory and production customers. Biocept's BCTs allow for the intact transport of liquid biopsy samples for research use only from regions around the world. Commercial launch is anticipated to begin in the second half of 2017.
The patented BCTs were developed at Biocept, and, over the past four years, have been used to transport thousands of patient samples containing both circulating tumor DNA (ctDNA) and circulating tumor cells (CTCs). Specimen types successfully transported with this technology include blood, cerebrospinal fluid, sputum, and fluid obtained from pleural effusion. Use of the Company's BCTs does not require pre-shipment specimen processing, refrigeration during shipping, or centrifugation upon receipt, which can be barriers to the adoption of liquid biopsy. Study data demonstrating the ability to successfully collect and preserve patient blood samples for use with single gene tests and a broad liquid biopsy panel were presented in a poster at the 2017 American Association for Cancer Research (AACR) Annual Meeting in April.
"Our patented blood collection tubes are designed to facilitate the high-growth potential of liquid biopsy, and our agreement with VWR can help us leverage this opportunity in scale," said Mike Terry, Senior Vice President, Commercial Operations. "Collection and preservation of patient samples are key requirements to perform liquid biopsy, and given our historic use of these tubes for the transport and preservation of many liquid biopsy specimens, we believe that our BCTs offer a clinically robust solution."
Michael Nall, Biocept's President and CEO, added, "We are very proud to be working with VWR, for the distribution of our proprietary liquid biopsy collection tubes. Entering into the global market with a scaled offering for liquid biopsy is the first step toward growing from an exclusive CLIA lab business to a technology and products company. The development of this important technology is a prime example of how Biocept intends to leverage its proprietary technologies and intellectual property to improve the standard of care for cancer patients and to increase the value of our Company for shareholders."
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 clinically actionable 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 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 improve the outcomes of cancer patients, increase revenue or sales, the utility and effectiveness of our intellectual property protections, and our ability to drive additional value of the Company, 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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SOURCE Biocept, Inc.