SAN DIEGO, March 28, 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 that it has entered into a non-binding memorandum of understanding with Thermo Fisher Scientific, Inc. to collaborate together commercially. In the first phase of the collaboration, the parties plan to work together to validate Thermo Fisher's Oncomine™ next-generation sequencing (NGS) liquid biopsy panels in Biocept's CLIA-certified laboratory. Once validation is complete in addition to other requirements, Thermo Fisher intends to designate Biocept as a "Center of Excellence" for oncology-focused liquid biopsy initiatives and jointly pursue various commercial opportunities. The companies intend to initially target the pharmaceutical industry to provide diagnostic testing services for drug development, to support clinical trials, and for companion diagnostic (CDx) initiatives.
The collaboration also includes a plan to evaluate the feasibility of developing best-in-class products based on the integration of Biocept's Target Selector™ technology with Thermo Fisher's Ion Torrent™ NGS platform and Oncomine™ liquid biopsy-based NGS panels.
"We are excited to expand our work with Thermo Fisher by deriving synergies from the combination of cutting-edge technologies and services from both companies," said Biocept's President and CEO Michael Nall. "We have enjoyed a strong working relationship with Thermo Fisher from the time we launched our Target Selector™ liquid biopsy molecular platform, and look forward to bringing additional best-in class liquid biopsy tests to both pharmaceutical and clinical clients from this collaboration."
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 diagnosis and treatment of cancer, the success of the collaboration with Thermo Fisher including our ability to develop best-in-class products and services, our ability to undertake joint commercialization activities with Thermo Fisher, our ability to validate Thermo Fisher's Oncomine™ NGS liquid biopsy panels, our ability to jointly pursue commercial opportunities with Thermo Fisher, and our ability to achieve synergies from the collaboration, 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.