Biocept Inc (NASDAQ: BIOC), the cancer-focused diagnostic group, has struck a deal with a second California-based independent physician association (IPA) to provide its liquid biopsy assay services to doctors and patients in its network.
The latest deal comes after, in February this year, the San-Diego based company announced an agreement with another undisclosed independent physician association in the same US state.
As part of the tie-up, the firm revealed it will offer the association an array of cancer-detection tools such as biomarker tests as well as a liquid biopsy panel to help its physicians cater to their patients.
Today, Michael Nall, Biocept's President and CEO, said: "We are pleased to reach an agreement with a second large California-based IPA, this one in the southern part of the state, to provide liquid biopsy services for patients diagnosed with cancer.
"Our offerings provide evidence-based, clinically actionable results in a timely and cost-effective manner. This approach has been resonating with IPAs, ACOs, HMOs and other value-oriented stakeholders alike, and we look forward to further expanding our reach within our home state of California."
Biocept's so-called Target Selector offering includes the choice of individual biomarker tests or a larger liquid biopsy panel, enabling physicians to select the best approach for each patient, the firm said.
Another record quarter
Earlier this month, Biocept posted another record quarter - its sixth consecutive quarter of growth - as the company saw an increase in test volume.
The biotech firm delivered revenue of $1.8 million during the fourth quarter of 2019, an increase of 108% over the same period last year.
The gain was largely driven by commercial revenue, up 94% compared to 4Q 2018 and 11% over the previous quarter in 2019.
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