SAN DIEGO and ST. PETERSBURG, Fla., June 21, 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, and MediNcrease Health Plans, LLC, a national provider network and provider advocacy firm, announce an agreement making Biocept's Target Selector™ liquid biopsy tests accessible through MediNcrease's client base of regional and national health plans, insurance companies, employers, municipalities, third-party administrators, unions and other companies involved in the management of medical claims.
"We are thrilled to welcome Biocept as our newest provider and to make its specialized liquid biopsy diagnostic services accessible to our MediNcrease partners," said Linda Plaster, Chief Executive Officer of MediNcrease. "This exciting relationship affirms our continued commitment to increasing the accessibility of leading-edge diagnostic services to our partners by expanding our comprehensive network of providers."
"We are pleased to become a provider for MediNcrease and its clients," said Amy McNeal, Vice President of Reimbursement Strategies at Biocept. "MediNcrease offers innovative payment solutions that benefit both the payer and provider communities. Our ability to expand our services to groups such as MediNcrease is indicative of the growing acceptance of liquid biopsy testing within the medical community. With this agreement in place, more than 190 million consumers have access to our liquid biopsy services."
"Expanding the number of managed care agreements is among our key strategic objectives as more cancer patients gain access to the potential benefits of using liquid biopsies," said Biocept's President and Chief Executive Officer Michael Nall. "Our Target Selector™ tests can be complementary to tissue biopsy with the ability to increase the chances of finding actionable biomarkers and rapidly qualify more patients for targeted therapy, which can result in improved patient outcomes."
About MediNcrease Health Plans
MediNcrease is a uniquely positioned national provider network and provider advocacy firm servicing the commercial health, workers' compensation and auto medical markets. Its advanced provider network and negotiation solutions not only help facilitate millions of dollars in expedited payments to providers each year, but also provide medical payers with dramatically improved savings and service over traditional PPO networks. The result is a 100% defensible and transparent solution for both providers and payers. For more information, please visit the company's website at http://medincrease.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.
Biocept's 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, the utility and effectiveness of our intellectual property protections, the financial impact of new contracts, and our ability to increase the number of products or services provided or the 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.