Biocept Secures Agreements with Preferred Provider Organizations Stratose and Galaxy Health Network for its Proprietary Blood-Based Oncology Diagnostic Assays

Increases coverage to approximately 31 million PPO members

SAN DIEGO--()--Biocept, Inc. (NASDAQ: BIOC), a molecular diagnostics company commercializing and developing assays for liquid biopsies to improve the detection and treatment of cancer, announces additional agreements with preferred provider organizations (PPOs). Stratose, Inc. and Galaxy Health Network (GHN) members will now have network access to Biocept’s proprietary non-invasive liquid biopsy testing. With these new agreements, which cover over 12 million members, approximately 31 million Americans have coverage for Biocept’s blood-based liquid biopsy testing through their healthcare plans.

“The healthcare community recognizes the importance of determining molecular biomarker status in making treatment decisions for cancer patients”

Stratose maintains one of the largest directly managed PPO networks in the U.S., including more than 850,000 direct and affiliate medical, dental and workers’ compensation provider contracts.

GHN includes a network of more than 400,000 directly contracted physicians, facilities and hospitals.

“The healthcare community recognizes the importance of determining molecular biomarker status in making treatment decisions for cancer patients,” said Michael Nall, President and CEO of Biocept. “Our Target SelectorTM assays, which are available today, utilize a blood sample to provide biomarker analysis to physicians when tissue biopsies are inadequate or when the risk to the patient is too great to attempt a surgical procedure. We are pleased to partner with managed care organizations such as Stratose and Galaxy in order to expand access to our liquid biopsy assays.”

Biocept offers clinically valuable molecular analysis from a non-invasive blood sample, known as a liquid biopsy, to aid physicians when they are making decisions about treatment for a wide number of recurrent and metastatic cancers. Biocept’s blood based-tests are also used by physicians for non-invasive monitoring of the biomarker status of cancer patients. Biocept now offers blood based biomarker analysis for multiple important biomarkers including Her2, ER, ALK, FGFR1, Met, EGFR, KRAS and BRAF, which are important in treatment decisions for patients with lung, breast, colorectal and melanoma.

Amy McNeal, Biocept’s Senior Director of Strategic Reimbursement, stated, “Biocept’s liquid biopsy testing is changing the way physicians evaluate tumor status and monitor both response and resistance to treatment. We are offering patients and their physicians a solution for the previously unmet medical need for when tissue biopsy is not an option and therefore, important treatment information was not possible.”

About Biocept

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 and melanoma, and plans to introduce CLIA-validated assays for prostate cancer and other solid tumors in the near term. 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 improvement of patient outcomes and our impact on diagnostic strategies, 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.

Contacts

Investor Contact:
LHA
Jody Cain, 310-691-7100
jcain@lhai.com

Release Tags

Biocept, Inc.