LabGenomics, NGeneBio join forces for US market
NGeneBio supplies NGS diagnostic products to LabGenomics
By Dec 02, 2022 (Gmt+09:00)
Samsung steps up AR race with advanced microdisplay for smart glasses


When in S. Korea, it’s a ritual: Foreigners make stops at CU, GS25, 7-Eleven


Maybe Happy Ending: A robot love story that rewrote Broadway playbook


NPS yet to schedule external manager selection; PE firms’ fundraising woes deepen


US auto parts tariffs take effect; Korea avoids heavy hit



Korea's two diagnostics companies, NGeneBio Co. and LabGenomics Co., signed a memorandum of understanding (MOU) on Thursday to cooperate in the field of next-generation sequencing (NGS) services.
The two companies will work together in developing NGS-based services both in the domestic and the US market.
For this, they intend to take advantage of a US Clinical Laboratory Improvement Amendments (CLIA) Lab, which LabGenomics plans to acquire.
After taking over a CLIA, LabGenomics, together with NGeneBio, plans to develop LDT services that applied their advanced diagnostic technologies to CLIA Lab's diagnostic process.
NGeneBio will supply LabGenomics with NGS diagnostics products, bioinformatics software, and laboratory-developed test (LDT) services. It will export NGS products to the US once LabGenomics completes the acquisition of the CLIA Lab.
Meanwhile, the biggest shareholder LabGeneomics signed in September a contract to sell its managerial rights to Luha Private Equity, South Korea, at 90 billion won. Capitalizing on 94.1 billion won in cashable assets, Luha plans to promote genetic testing molecular diagnosis services and new overseas business.
Write to In-Hyuk Park at hyuk@hankyung.com
-
Bio & PharmaLabGenomics unites with Humanscape on Asia, US genetic testing biz
Dec 20, 2022 (Gmt+09:00)
1 Min read -
Korean startupsData startup BankSalad begins monetizing free genetic testing
Nov 17, 2022 (Gmt+09:00)
1 Min read -
Bio & PharmaPet health: Korean genetic testing firms' new target market
Jun 20, 2022 (Gmt+09:00)
2 Min read