Biocept (NASDAQ: BIOC) recently completed a sale of 4,320,000 shares of common stock at a price of $2.15 per share, with ROTH Capital Partners as lead placement agent in the offering. The gross proceeds of the offering are expected to be approximately $9.3 million, which the company intends to use the proceeds for working capital and general corporate purposes. Additionally, the company said today that is 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). Per the multiphase agreement, OHSU is granted the right to commercially offer Biocept’s Target Selector™ liquid biopsy testing services exclusively throughout the state of Oregon and will have the ability to use Target Selector™ assays in-house. The agreement includes technology transfer, permitting OHSU to 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.
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.
About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit www.roth.com.
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