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Biocartis Group N.V.. (4/23/19). "Press Release: Biocartis Announces Global Collaboration with Covance". Mechelen.

Organisations Organisation Biocartis Group N.V. (Euronext Brussels: BCART)
  Group Biocartis (Group)
  Organisation 2 Covance Inc.
  Group LabCorp (Group)
Products Product Idylla™ molecular diagnostics system
  Product 2 drug development services
Index term Index term LabCorp–Biocartis: molecular diagnostics, 201904– collab ww €na offering of Idylla platform + oncology assays by Covance for drug development
Persons Person Verrelst, Herman (Biocartis 201709– CEO before Agilent + Cartagenia + Medicim + Data4s)
  Person 2 Anderson, Steve (LabCorp 201904 CSO at Covance)
     


Biocartis Group NV (the 'Company' or 'Biocartis'), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announces the global strategic commercialization agreement with Covance, LabCorp's Drug Development business. The agreement aims at offering the Idylla(TM) platform and its existing Idylla(TM) oncology assay menu[1] to Covance's customer base. Several Idylla(TM) instruments have already been placed at Covance sites in the US and China[2] to support global oncology trials. The agreement provides for additional placement of Idylla(TM) instruments at Covance sites globally to support customer needs for clinical trials and, when appropriate, to validate and implement companion diagnostic[3] applications.

Covance has been involved in the development of all of the current top 50 drugs on the market as measured by sales revenue. Furthermore, it has the leading central laboratory network serving the biopharma industry, across multiple therapeutic areas, with a specific focus on precision medicine.

Today, the market for targeted treatments is expanding rapidly with an increasing number of pharmaceutical companies that have a biomarker component built into their drug development pipeline. In 2018, over 1,100 cancer treatments were in development in the US[4], and 42% of all 2018 new approved therapies represented a personalized medicine approach[5]. Clinical studies for these therapies, which include testing that is performed in global laboratories such as Covance, require rapid and standardized biomarker molecular diagnostic testing platforms to help customers meet their needs for efficient patient enrollment and trial execution.

Herman Verrelst, Chief Executive Officer of Biocartis, commented: "We are proud to announce today the partnership with Covance, which is another important step in building an ecosystem around Idylla(TM), this time by deploying our Idylla(TM) technology in one of the largest laboratory networks used by the pharmaceutical industry to conduct drug development. We believe that the fully automated and standardized workflow of our Idylla(TM) platform can be of significant value here, potentially paving the way for new partnerships with pharmaceutical companies in the context of their oncology treatment developments."

Steve Anderson, Ph.D., Chief Scientific Officer of Covance, said: "This collaboration demonstrates our continued commitment to advances in precision medicine. Idylla(TM) is a unique rapid molecular diagnostic platform, which we believe offers a wide range of benefits to our customers. Its standardized and fully automated workflow can provide short turnaround times combined with excellent performance. These features are necessary to facilitate the rapid identification and efficient enrollment of patients into clinical trials."

Financial details of the agreement are not disclosed.


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More information:

Renate Degrave
Manager Corporate Communications & Investor Relations
e-mail rdegrave@biocartis.com
tel +32 15 631 729
mobile +32 471 53 60 64


About Biocartis

Biocartis (Euronext Brussels: BCART) is an innovative molecular diagnostics (MDx) company providing next generation diagnostic solutions aimed at improving clinical practice for the benefit of patients, clinicians, payers and industry. Biocartis' proprietary MDx Idylla(TM) platform is a fully automated sample-to-result, real-time PCR (Polymerase Chain Reaction) system that offers accurate, highly reliable molecular information from virtually any biological sample in virtually any setting. Biocartis is developing and marketing a rapidly expanding test menu addressing key unmet clinical needs in oncology. This area represents the fastest growing segment of the MDx market worldwide. Today, Biocartis offers tests supporting melanoma, colorectal and lung cancer. More information: www.biocartis.com. Press Photo Library available here. Follow us on Twitter: @Biocartis_.

Biocartis and Idylla(TM) are registered trademarks in Europe, the United States and other countries. The Biocartis and Idylla(TM) trademark and logo are used trademarks owned by Biocartis. This press release is not for distribution, directly or indirectly, in any jurisdiction where to do so would be unlawful. Any persons reading this press release should inform themselves of and observe any such restrictions. Biocartis takes no responsibility for any violation of any such restrictions by any person. Please refer to the product labeling for applicable intended uses for each individual Biocartis product. This press release does not constitute an offer or invitation for the sale or purchase of securities in any jurisdiction. No securities of Biocartis may be offered or sold in the United States of America absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended.


Forward-looking statements

This press release may contain forward-looking statements. Such forward-looking statements are not guarantees of future performance. These forward-looking statements speak only as of the date of this press release. Biocartis expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release, except if specifically required to do so by law or regulation. You should not place undue reliance on forward-looking statements.


[1] Research Use Only, not for use in diagnostic procedures.

[2] Idylla(TM) Assays currently available in the USA and China are for Research Use Only, not for use in diagnostic procedures. Any support of clinical trials in the USA, China, or other locations will follow applicable regulations.

[3] A CDx test is a test used as a companion to a therapeutic drug that helps predict if a patient is likely to respond to a treatment or not.

[4] Source: https://www.statista.com/statistics/268805/number-of-cancer-drugs-in-development-since-2005/, last consulted on 19 April 2019.

[5] Source: PMC, 'Personalized Medicine at FDA', A progress and outlook report', 2018.

   
Record changed: 2019-04-23

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