SAN DIEGO, March 10, 2016 /PRNewswire/ -- Biocept, Inc. (NASDAQ: BIOC), a molecular diagnostics company commercializing and developing liquid biopsies to improve the detection and treatment of cancer, announces that Progenetics LTD will market and distribute Biocept's complete portfolio of Target Selector™ liquid biopsy assays in Israel. Terms of the transaction were not disclosed.
"We are delighted to partner with Progenetics to bring our liquid biopsy assays and services to patients diagnosed with cancer in Israel. Our molecular assays use a simple blood draw to provide physicians with valuable information in therapeutic decision-making and in therapeutic course-corrections over time," said Raaj Trivedi, Biocept's Vice President of Commercial Operations. "Importantly, this agreement serves to expand Biocept's reach outside of the U.S., which is a component of our growth strategy. We see our agreement with Progenetics as a model for additional agreements with distributors in select global markets."
"We are excited by the revolution in personalized medicine and we intend to be at its forefront," said Yoav Manaster, Ph.D., Market Director at Progenetics. "We believe that molecular tumor profiling will become an indispensable diagnostic tool in the standard protocol of oncological treatment. Our partnership with Biocept will enable us to provide Israeli physicians access to highly sensitive molecular diagnostic information using blood as a sample type for identifying predictive biomarkers."
About Progenetics LTD
Progenetics is an innovative company in the relatively new field of molecular tumor profiling in Israel. Founded as a result of strong consumer demand for advanced cancer testing, the company is expanding fast, and is well-positioned to become a market leader in the emerging field of personalized medicine for the treatment of cancer. For more information please visit: www.progenetics.co.il
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 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 other solid tumors in the near term. For additional information, please visit www.biocept.com.
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 expand into international markets, our impact on diagnostic strategies, our ability to enhance individual cancer treatments and 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.