S.Korean biotech firm Genesystem to bring molecular testing to India
In-Hyuk Park
Feb 08, 2023 (Gmt+09:00)
Genesystem's on-site molecular testing platform UF340 Genesystem, a South Korean biotech firm specializing in on-site molecular testing platforms, announced on Tuesday its entry into the Indian market through a local sales and production partnership with an unnamed Indian company.
The deal will allow the company to supply its diagnostic products for infectious diseases, including the UF300 and UF340 diagnostic equipment, and more than 10 million diagnostic kits to India through a distributor agreement. Genesystem, however, declined to disclose the size of the contract or the supply period.
The firm is focused on developing diagnostic products for diseases prevalent in India such as tuberculosis, hepatitis B, hepatitis C, and HIV, with tuberculosis being the primary target.
In line with the Indian government's "Make in India" policy, Genesystem also intends to set up a local production base to reduce costs and streamline licensing procedures through localization.
Genesystem believes that production in India will secure its place in the Indian public procurement market, giving it the ability to deliver products to the public more efficiently.