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Biocept to relocate corporate offices and lab to new San Diego location

The company's new 39,000 square-foot headquarters, manufacturing and lab facility will be located at 9955 Mesa Rim Road, in San Diego, California

Biocept Inc - Biocept to relocate corporate offices and lab to new San Diego location
Biocept said the move into its new office is expected to be completed by year-end 2020

Biocept Inc (NASDAQ:BIOC), a molecular diagnostics company, has announced that it is relocating its corporate offices and advanced laboratory to a new location in San Diego, California.

The company's new 39,000 square-foot headquarters, manufacturing and lab facility will be located at 9955 Mesa Rim Road, San Diego, CA 92121. The move is expected to be completed by year-end 2020, the company said.

READ: Biocept is changing the way physicians examine blood work for their cancer patients

"This location is well-suited to meet our commercial, development and administrative needs and aligns with our strategy of supporting growth while reducing rent expense and other facility costs," Tim Kennedy, CFO and senior vice president of operations with Biocept said in a statement.

"Our CLIA license will be transferred to the new location with our move and we anticipate a smooth transition without workflow disruption," he added.

Biocept CEO Michael Nall said the company was “grateful” to call San Diego it's home and to find “a well-suited location” that is convenient for its employees.

"We look forward to this next chapter in Biocept's history and further fulfilling our commitment to commercializing innovative diagnostic solutions that provide needed information for improving the outcomes of patients diagnosed with cancer," Nall added.

The company has developed a patented liquid biopsy technology called Target Selector that detects and isolates cancer biomarkers such as circulating tumor cells and cell-free circulating tumor DNA.

Biocept offers the tests commercially to doctors, hospitals, clinics and researchers, with a focus on lung, breast, gastric, colorectal and prostate cancers — which represent 45% of all metastatic cancers — as well as melanoma.

The company says these simple blood tests can obtain the needed molecular information non-invasively and more rapidly than a tissue biopsy.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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Price: 4.44 USD

NASDAQ:BIOC
Market: NASDAQ
Market Cap: $59.48 m
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Biocept announces Highmark has made a positive coverage determination on...

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on 23/9/20

2 min read