Biocept Announces In-Network Agreement with Blue Cross Blue Shield of Illinois

More than eight million members gain access to Biocept's suite of blood-based diagnostics through agreement with Illinois' largest health plan, bringing total covered lives to approximately 133 million

Jan 12, 2016, 07:00 ET from Biocept, Inc.

SAN DIEGO, Jan. 12, 2016 /PRNewswire/ -- Biocept, Inc. (NASDAQ: BIOC), a molecular diagnostics company commercializing and developing blood-based biomarkers to improve the detection and treatment of cancer, announces that it has entered into an agreement with Blue Cross Blue Shield of Illinois (BCBS IL) allowing its members access to Biocept's broad menu for liquid biopsy testing.  With the addition of BCBS IL's more than eight million members, the number of patients with access to Biocept's liquid biopsy assays through their healthcare insurance plan has increased to approximately 133 million.

"BCBS IL is the largest health plan in Illinois and is our first agreement with a plan in the Blue Cross Blue Shield system," said Michael W. Nall, President and CEO of Biocept.  "We view this agreement as another indication of the growing awareness by healthcare providers of the important role liquid biopsy can have in the treatment of patients with cancer.  For Biocept, gaining health plan coverage for our tests is a key aspect of our reimbursement strategy."

"For a significant number of patients with cancer, obtaining sufficient biopsy material from a surgical procedure is neither possible nor practical.  By utilizing liquid biopsy, physicians can gain valuable information for use in developing treatment plans for their patients," said Amy McNeal, Senior Director of Strategic Reimbursement at Biocept.  "Our goals at Biocept and the payor community are aligned as we work together to improve patient outcomes while providing savings to the healthcare system."

About Biocept

Biocept, Inc. is a commercial-stage molecular diagnostics company that utilizes a proprietary technology platform and a standard blood sample to provide physicians with important prognostic and predictive information to enhance individual treatment of patients with cancer. Biocept's patented technology platform captures and analyzes circulating tumor DNA, both in circulating tumor cells (CTCs) and in plasma (ctDNA). Biocept currently offers assays for gastric cancer, breast cancer, lung cancer, colorectal cancer, prostate cancer and melanoma, and plans to introduce additional CLIA-validated assays in the near term. 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 detection and treatment of cancer, our ability to improve patient outcomes while providing savings to the healthcare system and our ability to introduce additional CLIA-validated assays, 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.



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