Benzinga | Aug 6, 2020 08:07AM EDT

Biocept Reports Deal With Aegea Biotech To Develop Highly-Sensitive PCR-Based Coronavirus Assay Utilizing Patented Switch-Block PCR Technology

Biocept, Inc. (NASDAQ:BIOC), a leading commercial provider of molecular technologies designed to provide physicians with clinically actionable information to improve the outcomes of patients with cancer, and Aegea Biotechnologies, Inc., an innovative private life science company with an extensive portfolio of issued patents in next-generation nucleic acid technologies, announce a development agreement focused on the co-development by Biocept and Aegea of a highly sensitive PCR-based assay designed by Aegea for detecting the COVID-19 virus. The COVID-19 PCR assay is based on the core Switch-Blocker technology used in Biocept's suite of ultra-sensitive oncology-focused assays. The collaboration will leverage Biocept's experience in developing high-performance assays based on the Switch-Blocker technology.



The COVID-19 PCR assay is being developed as a next-generation test designed for improved analytical performance in order to better assist healthcare providers in screening and managing patients. The test is designed to incorporate unique capabilities to increase the sensitivity in detecting SARS-CoV-2 (COVID-19 virus) and to provide additional information on specific strain types. As part of the development agreement, Biocept has first option to negotiate a license agreement to any resulting new COVID-19 PCR assay for commercialization in its CLIA-certified, CAP-accredited high-complexity molecular lab.

The Switch-Blocker technology is patent protected in the United States and in 10 major international territories. The intellectual property underlying the Switch-Blocker technology is jointly owned by Biocept and Aegea. Under Biocept and Aegea's cross licensing agreement relating to the Switch-Blocker intellectual property, Aegea has exclusive rights in the field of infectious disease, and Biocept has certain rights within the field of clinical oncology.

"This project further expands on Biocept's initiatives in the COVID-19 PCR testing market and highlights our capabilities to develop high-complexity molecular-based assays based on our core Switch-Blocker technology for multiple applications, including potentially COVID-19," said Michael Nall, President and CEO of Biocept. "This agreement provides Biocept with new incremental revenue for R&D development services and, if successfully developed, an option to expand our COVID-19 testing capabilities with a next-generation COVID-19 PCR assay that we believe will have competitive advantages."

"Working with Biocept better enables the potential rapid development of this new PCR-based COVID-19 assay," said Stella M. Sung, Ph.D., Chief Business Officer of Aegea. "Biocept has successfully utilized Switch-Blocker technology to test for rare oncology-related genetic mutations in tens of thousands of clinical samples. Moreover, Biocept's CLIA laboratory is actively involved in COVID-19 PCR testing, which makes them the ideal partner for Aegea."