SAN DIEGO, March 9, 2016 /PRNewswire/ -- Biocept, Inc. (NASDAQ: BIOC), a molecular diagnostics company commercializing and developing assays for liquid biopsies to improve the detection and treatment of cancer, announces an agreement with preferred provider organization (PPO) network FedMed. FedMed members now have improved network access to Biocept's proprietary Target Selector™ liquid biopsy testing.
FedMed was founded in 2000 with corporate headquarters located in Gaithersburg, Maryland. FedMed operates a proprietary PPO consisting of more than 550,000 physicians, 4,000 hospitals and 60,000 ancillary care providers nationwide. More than 40 million Americans currently have access to FedMed's National Provider Network.
"With the expansion and progress in precision medicine and molecular diagnostic testing, we are pleased to offer Biocept's liquid biopsy testing to our Payors," stated Brian Moffitt, Managing Director of FedMed.
"Our highly sensitive and highly specific assays that can profile cancer-associated biomarkers from a blood sample demonstrate a clear advancement in the move to precision medicine," said Biocept's President and CEO, Michael W. Nall. "Detecting the presence of these cancer-associated biomarkers can assist and guide physicians in making personalized treatment decisions for their patients with cancer in order to positively impact outcomes."
"Our Target Selector™ assays may provide biomarker status information that was previously not available due to inadequate tissue samples. These patients are often too sick to obtain the necessary tissue using a surgical biopsy method," said Amy McNeal, Biocept's Senior Director of Strategic Reimbursement. "In addition, liquid biopsy testing allows physicians to monitor response to treatment as well as progression of disease from a simple blood draw."
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 CLIA-validated assays for other solid tumors 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 the potential of our diagnostic assays to improve the detection and treatment of cancer and our plans to introduce CLIA-validated assays for prostate cancer and other solid tumors in the near term, 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.
SOURCE Biocept, Inc.