PRESS RELEASE 7 January 2019, 07:00 CET
Biocartis and Nichirei Bioscience
Announce Commercialization Collaboration
for Japanese Market
Mechelen, Belgium, 7 January 2019 - Biocartis Group NV (the 'Company' or 'Biocartis'), an innovative molecular diagnostics company (Euronext Brussels: BCART) announces to have signed an agreement with Nichirei Bioscience, a leading supplier of biological and diagnostics products in Japan, for the product registration and exclusive distribution of Biocartis' molecular diagnostic (MDx) oncology tests in Japan, operating on the fully automated sample-to-result Idylla(TM) platform.
Under the terms of the agreement, Nichirei Bioscience will seek the regulatory approval of Idylla(TM) MDx oncology tests with the Japanese Ministry of Health, Labor and Welfare. Upon successful registration, Nichirei Bioscience's sales force plans to distribute Biocartis' Idylla(TM) platform across its commercial network of some 2,000 pathology laboratories in Japan.
Biocartis' Idylla(TM) platform is a fully automated, real-time PCR based molecular testing system designed to offer results in a minimum amount of time, making oncology molecular diagnostic testing fast, convenient and suitable for local laboratory partners and hospitals in Japan, as such enabling patient access to more efficient targeted cancer treatments. Thanks to this agreement, Nichirei Bioscience intends to enable local pathology labs to generate accurate oncology MDx test results with efficient turnaround time and the consistent high quality and clinical utility that physicians and patients have come to expect when making cancer treatment decisions.
Nichirei Bioscience is part of Nichirei Corporation (TYO: 2871), a holding company with an annual turnover of approximately ¥ 550 billion with activities across the world in the fields of food, logistics and biosciences. Within biosciences, Nichirei Bioscience has developed and is commercializing products for immunohistochemistry and point-of-care diagnostics for which immunohistochemistry has a top three market position in Japan. Today, Japan represents one of the largest MDx markets in the APAC (Asia-Pacific) region, expected to reach $2.86 billion by 2021 with a market share of 14.3% for oncology.
Herman Verrelst, Chief Executive Officer at Biocartis commented: "Nichirei Bioscience is a trusted supplier of the Japanese pathology market with a well-established commercial network and extensive experience in the registration of pathology products. We are confident that Nichirei Bioscience is the right partner for Biocartis in a market where a growing cancer incidence drives the need for rapid and easy automated MDx solutions to capture the growing volume of tests."
Masato Takenaga, President at Nichirei Bioscience, added: "We are excited to strengthen our existing product portfolio with the fully automated Idylla(TM) platform and its rapid and easy molecular diagnostic tests. We believe this highly innovative MDx solution will be an important catalyst in growing our extensive network of pathology laboratory customers in Japan."
Financial details of the agreement are not disclosed.
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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_.
About Nichirei Bioscience
Nichirei Bioscience Inc., who started its biosciences business in 1983, aims to contribute to the development of the global bio-industry, including the medical, cosmetic and healthcare business, by offering high-quality products and services based on its advanced technology. Today, the company develops, produces and distributes immunohistochemistry products, diagnostic products, cell-biology products, functional materials, and other related products. More information on www.nichirei.co.jp/bio/english/index.html.
Biocartis and Idylla(TM) are registered trademarks in Europe, the United States and other countries. The Biocartis trademark and logo and the 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.
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.
 Polymerase Chain Reaction.
 Source: Nichirei Bioscience website and company information.
 The APAC MDx market was worth $1.72 billion in 2016 and is expected to reach $2.86 billion by 2021, at a CAGR of 10.7%. Infectious disease represents the highest market share of 72.0%, followed by oncology (14.3%), genetic disorders (10.0%) and pharmacogenomics (3.7%). Source: Frost & Sullivan, "APAC Molecular Diagnostics Market, Forecast to 2021", 23 March 2017, available online at https://store.frost.com/apac-molecular-diagnostics-market-forecast-to-2021.html.