Knight Diagnostic Laboratories to work with Biocept to co-develop highly sensitive, multiplexed assay panels leveraging OHSU's next generation sequencing (NGS) expertise
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.
