Biocartis Group NV: Thermo Fisher Scientific to Distribute Biocartis' Idylla(TM) Automated Molecular Diagnostics Testing Platform in U.S.



Thermo Fisher Scientific to Distribute Biocartis' Idylla(TM) 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(TM) platform and its accompanying assays, with a first focus on oncology products. The Idylla(TM) 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]. 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] of 6.8%[3] for infectious diseases and a value of USD 1.07 billion by 2020 at a CAGR of 16.9%[4] for oncology.

Under the terms of the agreement, Thermo Fisher Scientific will be granted distribution rights for Biocartis' Idylla(TM) molecular diagnostic assays for its customers in the U.S. Biocartis will retain the right to sell both its Idylla(TM) platform and assays via direct sales channels.

Biocartis' proprietary Idylla(TM) 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(TM) platform encompasses the entire process from sample to result in a time frame of approximately two hours[5]. With less than two minutes of hands-on time, Idylla(TM) 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."

--- END ---
More information:
Renate Degrave
Manager Corporate Communications & Investor Relations
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 launched the Idylla(TM) 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: Press Photo Library available here. Follow us on Twitter: @Biocartis_.

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company or, as appropriate, the Company directors' current expectations and projections concerning future events such as the Company's results of operations, financial condition, liquidity, performance, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future.  In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. 

[1] MarketsandMarkets, Molecular Diagnostics Market - Forecast To 2020.

[2] CAGR = Compound Annual Growth Rate.

[3] During the forecasted period 2015-2020. Source: MarketsandMarkets, Molecular Diagnostics Market - Forecast To 2020.

[4] MarketsandMarkets, Molecular Diagnostics Market - Forecast To 2020.

[5] Actual turnaround time is assay-type dependent and ranges from 35 to 150 minutes.


About Thermo Fisher Scientific