SAN DIEGO, April 3, 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, announces that it has entered into a Preferred Provider Collaboration and Services Agreement with Oregon Health & Sciences University on behalf of the OHSU Knight Cancer Institute (collectively "OHSU"). The
multiphase agreement grants OHSU the rights to commercially offer Biocept's Target Selector™ liquid biopsy testing services
exclusively throughout the state of Oregon. Additionally, Biocept and OHSU plan to engage in
technology transfer, whereby OHSU will have the ability to use Target Selector™ assays in-house, and act as a secondary
laboratory for Biocept's research and testing activities. Biocept and OHSU also plan to co-develop additional liquid biopsy assay
technologies and platform capabilities including highly sensitive, multiplexed assay panels for molecular biomarker detection and
assessment.
OHSU's Knight Diagnostic Laboratories ("KDL") selected Biocept's Target Selector™ platform after evaluating several
commercially available and research-stage liquid biopsy technologies throughout the industry. Additional R&D and commercial
pilot projects are anticipated under the agreement. Financial terms were not disclosed.
"We are pleased to enter into this collaboration with Biocept, and to increase the use of liquid biopsy in our cancer center
and throughout the greater Oregon region," stated Christopher
Corless, M.D., Ph.D., Executive Director and Chief Medical Officer of KDL, and Professor of Pathology at OHSU. "Liquid
biopsy offers several advantages including the ability to obtain molecular information from a patient's cancer rapidly and
non-invasively. The high sensitivity and low cost potential of Biocept's Target Selector™ platform was attractive to us, and we
look forward to working with the Company to develop additional assays, multiplexed panels, and applications of this technology to
improve patient care."
The OHSU Knight Cancer
Institute is an international leader in cancer research and personalized cancer treatment. The institute's director,
Brian Druker, M.D.,
helped usher in the era of personalized cancer medicine with his discovery that cancer cells could be shut down by disabling the molecules
that drive their growth without harming healthy cells. The drug resulting from that research, Gleevec®, revolutionized how cancer
is treated, and inspired a new wave of exploration of targeted cancer therapies. The Knight Cancer Institute first received
National Cancer Institute (NCI) designation in 1997 – an honor earned only by the nation's top cancer centers. In
June 2015, Oregon Health & Sciences University announced that the
$1 billion fundraising challenge by Nike co-founder Phil Knight and
his wife Penny was reached, setting a new philanthropic record. With $1 billion in new funding, the
Knight Cancer Institute began to fast-track recruitment of scientists and physician investigators, and broke ground on the Knight
Cancer Research Building. As Oregon's only NCI-designated cancer center, the Knight Cancer
Institute is committed to partnering with physicians from across the region to care for patients with cancer.
"Our agreement with OHSU is a major milestone for Biocept, as we increase our commercial footprint by partnering with one of
the most prestigious cancer centers in the nation," said Michael W. Nall, Biocept's President and
CEO. "Our Target Selector™ platform was chosen by KDL based on several important differentiating features that we believe are
advancing liquid biopsy to transform the standard of care for cancer treatment. We look forward to working with KDL to develop
new applications for our technology and solidify our leadership position in the market."
About Biocept
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 clinically actionable
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
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.
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 outcomes of cancer patients, our ability to co-develop additional
liquid biopsy assay technologies and platform capabilities, liquid biopsy transforming the standard of care for cancer treatment,
our ability to solidify our leadership position in the liquid biopsy market, and our ability to increase the clinical adoption of
our testing services, 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.
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SOURCE Biocept, Inc.