Shares of Biocept (NASDAQ: BIOC) a US provider of molecular technologies to clinicians today rallied 36.2% high rafter the company unveiled an agreement with Aegea Biotechnologies to develop a highly sensitive PCR-based assay designed by Aegea for detecting the COVID-19 virus.
The COVID-19 PCR assay is built on the core Switch-Blocker technology developed by Biocept and used in its suite of ultra-sensitive oncology-focused assays.
Michael Nall, President and CEO of Biocept commented that: “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.”
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Stella M. Sung, Ph.D., Chief Business Officer of Aegea explained that: “Working with Biocept better enables the potential rapid development of this new PCR-based COVID-19 assay. Biocept has successfully utilized Switch-Blocker technology to test for rare oncology-related genetic mutations in tens of thousands of clinical samples.”
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