PRESS RELEASE - FOR IMMEDIATE RELEASE
17 November 2016, 07:00 CET: REGULATED INFORMATION - INSIDE INFORMATION
Thermo Fisher Scientific to Distribute Biocartis' Idylla Automated Molecular Diagnostics Testing Platform in U.S.
Mechelen, Belgium, 17 November 2016 - Biocartis Group NV ('Biocartis'), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announced it has granted rights in the U.S. to Thermo Fisher Scientific Inc. to distribute its rapid and fully automated molecular diagnostics Idylla platform and its accompanying assays, with a first focus on oncology products. The Idylla platform is a fully integrated system enabling laboratories to perform a broad range of applications in oncology and beyond.
Cancer is the second-most-common cause of death in the U.S. after cardiovascular diseases[1] (#_ftn1). The U.S. is expected to account for the largest share of the molecular diagnostics testing market in oncology and infectious diseases, Biocartis' two main focus areas, holding a value of respectively USD 1.45 billion by 2020 at a CAGR[2] (#_ftn2) of 6.8%[3] (#_ftn3) for infectious diseases and a value of USD 1.07 billion by 2020 at a CAGR of 16.9%[4] (#_ftn4) for oncology.
Under the terms of the agreement, Thermo Fisher Scientific will be granted distribution rights for Biocartis' Idylla molecular diagnostic assays for its customers in the U.S. Biocartis will retain the right to sell both its Idylla platform and assays via direct sales channels.
Biocartis' proprietary Idylla platform, first launched in September 2014, enables Thermo Fisher Scientific to offer its U.S. customers access to a fully automated, real-time PCR-based molecular diagnostics system, which provides fast and easy access to molecular biomarker information. The Idylla platform encompasses the entire process from sample to result in a time frame of approximately two hours[5] (#_ftn5). With less than two minutes of hands-on time, Idylla is applicable for a wide range of clinical sample types, and it can analyze both RNA and DNA directly from an FFPE (formalin-fixed paraffin embedded) sample. The fully integrated system will enable U.S. laboratories to perform a broad range of molecular tests. Both parties expect to start commercial roll-out as of mid-2017.
Rudi Pauwels, Chief Executive Officer of Biocartis, commented: "We are extremely proud to announce this collaboration. Thermo Fisher Scientific is a great match for Biocartis, holding an impressive track-record in improving patient diagnostics and increasing laboratory productivity. I am confident that this partnership will not only strengthen our commercialization efforts in the U.S., but also support us in taking the next step in our ambition of having an impact on molecular diagnostic testing throughout the world."
Mark Zacur, Vice President and General Manager of Thermo Fisher's healthcare market channel, added: "The Biocartis molecular diagnostics platform and assays are an important step forward in the fight against cancer. We are pleased to have been chosen as their channel for making these tests available to our customers in 2017."
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More information:
Renate Degrave
Manager Corporate Communications & Investor Relations
e-mail rdegrave@biocartis.com (mailto: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 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 launched the Idylla platform in September 2014. Biocartis is developing and marketing a rapidly expanding test menu addressing key unmet clinical needs in oncology and infectious diseases. These areas represent respectively the fastest growing and largest segments of the MDx market worldwide. Today, Biocartis offers five oncology tests and two infectious disease tests. More information: www.biocartis.com (http://www.biocartis.com/). Press Photo Library available here (https://investors.biocartis.com/en/press-image-library). Follow us on Twitter (https://twitter.com/biocartis_): @Biocartis_.
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[1] (#_ftnref1) MarketsandMarkets, Molecular Diagnostics Market - Forecast To 2020.
[2] (#_ftnref2) CAGR = Compound Annual Growth Rate.
[3] (#_ftnref3) During the forecasted period 2015-2020. Source: MarketsandMarkets, Molecular Diagnostics Market - Forecast To 2020.
[4] (#_ftnref4) MarketsandMarkets, Molecular Diagnostics Market - Forecast To 2020.
[5] (#_ftnref5) Actual turnaround time is assay-type dependent and ranges from 35 to 150 minutes.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Biocartis Group NV via Globenewswire
