Benzinga exclusively broke the story. 

Plus Therapeutics is using CNSide in a clinical trial with their targeted radiotherapeutic to treat patients with carcinomas and/or melanomas with suspected leptomeningeal metastases (LM), cancer in the membranes surrounding the brain and spinal cord. 

CNSide is Biocept's proprietary cerebrospinal fluid (CSF)-based tumor cell capture and enumeration platform used in detecting, quantifying, and monitoring tumor status in LM.

Plus will pay Biocept an upfront fee of $150,000 in stock, plus $6,000 per CSF tumor cell enumeration analysis performed in Biocept's laboratory before the completion of the technology transfer. 

Once the technology transfer is complete, Plus will pay Biocept $300,000 plus fees on a sliding scale starting at $2,800 for each CNSide test they perform. 

The license agreement also gives Plus the option to negotiate for third-party exclusivity with a $1,000,000 payment to Biocept.

Price Action: BIOC shares are up 83.30% at $1.54 during the premarket session on the last check Friday.