Biocept Enters into Laboratory Services Agreements with Two Southern California Regional Independent Physician Associations
Biocept, Inc. (Nasdaq: BIOC) has established laboratory services agreements with two independent physician associations (IPAs) in San Diego, serving over 70,000 patients in Southern California. These agreements will allow IPAs to access Biocept's Target Selector™ liquid biopsy oncology assays, aimed at improving patient care through evidence-based results. CEO Michael Nall emphasized the importance of contracting with value-based providers to enhance cost-effective healthcare delivery, indicating plans for additional agreements in the future.
- Established agreements with two IPAs increase market access.
- Target Selector™ assays aim to improve patient outcomes, indicating potential for higher demand.
- Plans to enter additional services agreements signal future growth.
- None.
SAN DIEGO, Dec. 30, 2020 /PRNewswire/ -- Biocept, Inc. (Nasdaq: BIOC), a leading commercial provider of molecular diagnostic assays, products and services designed to provide physicians with clinically actionable information to improve patient outcomes, announces that it has entered into laboratory services agreements with independent physician associations (IPAs) providing physicians and patients in-network access to Biocept's full array of Target Selector™ liquid biopsy oncology assays and services. Both IPAs are headquartered in San Diego and combined serve more than 70,000 covered lives in the Southern California region.
"We see a role for our Target Selector™ assays and services in value based delivery health plans such as IPAs with goals to deliver cost-efficient and high-quality care," said Michael Nall, Biocept's President and CEO. "Our Target Selector™ provides evidence-based, clinically actionable results that allow physicians the ability to choose individual biomarker tests or larger liquid biopsy panels to provide the best approach for each patient. Contracting with value-based providers is a priority for Biocept and we expect to enter into additional services agreements in the future."
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. Additionally, Biocept is offering nationwide COVID-19 polymerase chain reaction (PCR) testing to support public health efforts during this unprecedented pandemic. 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 regarding our expectation of entering into additional services agreements in the future and the ability of our assays to improve the outcomes of patients diagnosed with cancer, 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 our products and services may not perform as expected and the risk that we will not be able to enter into additional services agreements. 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 September 30, 2020. 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.
Contact:
LHA Investor Relations
Jody Cain
Jcain@lhai.com
310-691-7100
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SOURCE Biocept, Inc.
