Biocept, Inc. (Nasdaq: BIOC), a leading provider of molecular diagnostic assays, products and services, today announced a collaboration with Quest Diagnostics (NYSE: DGX) to provide laboratory testing services to Quest patients for its Target Selector™ NGS-based liquid biopsy targeted lung cancer panel. Quest Diagnostics is the leading provider of diagnostic information services, including in advanced diagnostics.
The Biocept Target Selector NGS-based liquid biopsy assay is a less invasive, lab developed test that can be used for genomic profiling in patients with advanced non-small cell lung cancer (NSCLC) to help qualify them for advanced targeted therapies and monitor the effectiveness of treatment. With a physician order, patients will be able to provide a blood specimen for testing at one of Quest’s 2,200 conveniently located patient service centers across the United States. The two parties expect the service to be available to Quest Diagnostics’ providers and patients in the fourth quarter of 2021.
"We are pleased to expand Biocept’s relationship with Quest Diagnostics, as we believe its expertise and reach will allow us to serve more patients and potentially grow our customer base,” said Michael Nall, President and CEO of Biocept. “Quest shares our focus on improving care for patients with lung cancer, and this agreement provides a strong collaborator to help us provide oncologists with the answers they need to create more personalized, responsive treatment plans for their patients.”
“Lung cancer is one of the most prevalent and deadliest cancers,” said Kristie Dolan, General Manager, Oncology Franchise, Quest Diagnostics. “Better tools to aid in therapy selection and monitoring are urgently needed to improve patient outcomes, which is why we are so excited to work with Biocept on this focused test. Quest has the national scale, oncology expertise and network provider relationships to broaden access to this important innovation in order to potentially improve care for patients in treatment for lung cancer."
Biocept Target Selector NGS-based targeted lung cancer panel includes the most prevalent clinically actionable genes for NSCLC. It combines Biocept’s liquid biopsy biomarker testing expertise with next-generation sequencing and decision support resources. The NGS solution is targeted and actionable—approximately 70% of the biomarkers investigated are based on National Comprehensive Cancer Center guidelines and/or FDA-approved therapies.
Biocept, Inc. develops and commercializes molecular diagnostic assays that provide physicians with clinically actionable information for treating and monitoring patients diagnosed with a variety of cancers. In addition to its broad portfolio of blood-based liquid biopsy assays, Biocept has developed the CNSide™ cerebrospinal fluid assay that detects cancer that has metastasized to the central nervous system. Biocept’s patented Target Selector™ technology captures and quantitatively analyzes CSF tumor cells for tumor-associated molecular markers, using technology first developed for use in blood. Biocept also is leveraging its molecular diagnostic capabilities to offer nationwide COVID-19 RT-PCR testing to support public health efforts during this unprecedented pandemic. For more information, visit www.biocept.com. Follow Biocept on Facebook, LinkedIn and Twitter.
Forward-Looking Statements Disclaimer
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 "will," ""expect," "believe," or "potentially," 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 regarding the expectation that the Biocept Target Selector NGS-based liquid biopsy assay will be available to Quest Diagnostics providers and patients in the fourth quarter of 2021, Biocept’s belief that its collaboration with Quest Diagnostics will allow Biocept to serve more patients and potentially grow its customer base, the ability of the Biocept Target Selector NGS-based liquid biopsy assay to potentially improve care for patients in treatment for lung cancer, and our ability to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with a variety of cancers, 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 risks and uncertainties, including the risk that the collaboration with Quest Diagnostics will not result in broadened patient access to the Biocept Target Selector NGS-based liquid biopsy assay and the risk that our products and services may not perform as expected. These and other risks are described in greater detail under the "Risk Factors" heading of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, as field with the Securities and Exchange Commission (SEC) on May 12, 2021. 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 http://www.sec.gov/.