Press release Biocartis Group NV: Biocartis Receives EUR 1.4m Grant to Support Development of New Idylla™ Technology to Unlock Potential in Molecular Surveillance

Press release Biocartis Group NV: Biocartis Receives EUR 1.4m Grant to Support Development of New Idylla™ Technology to Unlock Potential in Molecular Surveillance

Press release Biocartis Group NV: Biocartis Receives EUR 1.4m Grant to Support Development of New Idylla™ Technology to Unlock Potential in Molecular Surveillance

PRESS RELEASE: 11 May 2021, 07:00 CEST

Biocartis Receives EUR 1.4m Grant to Support Development of New Idylla™ Technology to Unlock Potential in Molecular Surveillance

Mechelen, Belgium, 11 May 2021 – Biocartis Group NV (the ‘Company’ or ‘Biocartis’), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announces that it has received a EUR 1.4 million grant from VLAIO, the Flanders organization for Innovation & Entrepreneurship, for the ongoing development of a new generation technology that will be deployed on the easy-to-use and fully automated molecular diagnostics platform Idylla™.

The VLAIO grant is intended to support the ongoing development of a new Idylla™ technology, which will enable the off-line customization of the Idylla™ cartridge1. The first generation Idylla™ cartridges contain not only the generic components for sample preparation and biomarker detection, but also the biomarker-specific reagents. The next generation Idylla™ cartridges on the other hand would only contain the generic components for sample preparation and biomarker detection, and would be made biomarker-specific through the addition by the user of a ready-to-use mixture containing biomarker-specific reagents. This new Idylla™ technology would be fully compatible with the current Idylla™ cartridge manufacturing lines and installed base, and is expected to further reduce the Idylla™ assay development time and cost.

Molecular surveillance, where every patient is monitored repeatedly using a molecular test, is a rapidly growing field and represents a significant market opportunity in oncology. The development of an easy-to-use testing solution that can detect patient-specific biomarkers by using this new generation Idylla™ technology aims at decentralizing customized testing and personalized monitoring.

Benoit Devogelaere, Chief Technology Officer of Biocartis, commented: The products that will be based on this new Idylla™ technology could potentially be used across the entire spectrum of molecular surveillance, including treatment response monitoring, Molecular Residual Disease2 (MRD) and recurrence monitoring. The new technology could be used in the context of approved targeted therapies and immunotherapies, as well as for novel cell therapies, personalized cancer vaccines and neoantigen-targeted immunotherapies3. We also see applications in the area of infectious diseases, where it could allow to rapidly customize Idylla™ assays for the detection and discrimination of different viruses and viral strains, which may be important in the fight against pandemic threats.”  

Herman Verrelst, Chief Executive Officer of Biocartis, reacted: “We are very grateful for VLAIO’s support in bringing this new generation Idylla™ technology to market. The first generation Idylla™ technology today already disrupts the molecular diagnostics landscape thanks to its rapid, easy-to-use and fully automated nature, which enables labs to perform high-quality molecular diagnostic testing. As cancer treatment becomes increasingly personalized, we now want to enable customization and even personalization of the Idylla™ platform. This could give us an avenue into the vast market of molecular surveillance applications, where every patient is monitored repeatedly using a molecular test.”

Biocartis expects to launch the first Idylla™ products that make use of this new Idylla™ technology in the course of 2022.

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More information:

Renate Degrave
Head of Corporate Communications & Investor Relations Biocartis
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 is developing and marketing a continuously expanding test menu addressing key unmet clinical needs, with a focus in oncology, which represents the fastest growing segment of the MDx market worldwide. Today, Biocartis offers tests supporting melanoma, colorectal and lung cancer, as well as for SARS-CoV-2 and sepsis. More information: Follow us on Twitter: @Biocartis_.

Biocartis and Idylla™ are registered trademarks in Europe, the United States and other countries. The Biocartis and Idylla™ trademark and logo are used trademarks owned by Biocartis. Please refer to the product labeling for applicable intended uses for each individual Biocartis product.
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. 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.

Forward-looking statements
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ 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. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates 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, except if specifically required to do so by law or regulation. 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 Previously referred to as the Idylla™ ‘FLEX’ technology
2 Molecular Residual Disease is a small number of cancer cells left in the body after treatment. These cells have the potential to come back and cause relapse in patients. Source: MD Anderson Cancer Center, US; Last consulted here on 7 May 2021; Chin RI, Chen K, Usmani A, Chua C, Harris PK, Binkley MS, Azad TD, Dudley JC, Chaudhuri AA. Detection of Solid Tumor Molecular Residual Disease (MRD) Using Circulating Tumor DNA (ctDNA). Mol Diagn Ther. 2019 Jun;23(3):311-331. doi: 10.1007/s40291-019-00390-5. PMID: 30941670; PMCID: PMC6561896
3 Immunotherapies that target neoantigens, which are the somatic mutations expressed only by tumor cells. This might enable tumor destruction without causing undue damage to vital healthy tissues. Source: Yamamoto, T.N., Kishton, R.J. & Restifo, N.P. Developing neoantigen-targeted T cell–based treatments for solid tumors. Nat Med 25, 1488–1499 (2019)., last consulted on 7 May 2021