Biocept rallies after announcing Dubai company will validate patented liquid biopsy technology

Biocept Inc (NASDAQ:BIOC) climbed Thursday after announcing an agreement under which a Dubai company will validate its patented liquid biopsy technology in order to perform testing for the detection of tumor biomarkers. 

The molecular-diagnostics company said in a statement that subject to validation, Agiomix FZ-LLC will purchase Target Selector liquid biopsy kits for use in its lab to test samples received from the Middle East, Africa and Asia.

Shares of Biocept climbed 7% to $2 in Thursday’s Nasdaq trading.

READ: Biocept cites peer-reviewed study highlighting success of liquid biopsy testing in lung cancer patient

Biocept said tests will be performed at Dubai-based Agiomix’s diagnostics lab and will be validated to ensure comparability of results achieved at Biocept’s San Diego’s facility.

“At Agiomix, our focus is to provide tumor biomarker testing services to support the initiatives of global biotherapeutics companies that are bringing leading-edge targeted cancer therapies to emerging markets,” Agiomix CEO John Clarkson said. “We are dedicated to bringing the best-in-class liquid biopsy technologies into our laboratory.”

Biocept CEO Michael Nall added that the company is working “to enable molecular laboratories around the world to exclusively license and utilize our technologies.”

Earlier this week, Biocept said a peer-reviewed article in the medical journal Clinics in Oncology showed that the company’s liquid biopsy testing of three patients with a type of lung cancer detected activating mutations where tissue biopsies were inadequate.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors