[Featured Stock] LabGenomics, Anticipation Rises for Securing Korea's First US 'K-Diagnosis' Platform

[Asia Economy Reporter Jang Hyowon] LabGenomics is showing strong performance. This is interpreted as expectations that it will secure a ‘K-diagnostic’ platform in the U.S. as the acquisition of the U.S. CLIA Lab is entering its final stages.

As of 10:33 AM on the 12th, LabGenomics is trading at 7,870 KRW, up 5.92% from the previous day.

LabGenomics plans to enter the U.S. market through the acquisition of the U.S. contract analysis organization CLIA Lab. CLIA is a standard certification system that verifies the accuracy, reliability, and appropriateness of clinical laboratories performing tests for disease diagnosis, prevention, and treatment within the U.S.

CLIA Lab is a laboratory certified under this system, ensuring reliability and allowing early use of products not yet approved by the U.S. Food and Drug Administration (FDA). Accordingly, LabGenomics plans to utilize domestic diagnostic products in the U.S. based on CLIA Lab. Recently, LabGenomics has formed a portfolio for U.S. market entry by signing multiple memorandums of understanding (MOUs) with domestic diagnostic companies.

The corporate value of U.S. diagnostic companies specializing in cancer diagnosis based on CLIA Lab is highly evaluated. Myriad Genetics, which succeeded in commercializing breast cancer genetic testing, has a market capitalization of $1.67 billion (approximately 2.1 trillion KRW). Genomic Health, which launched prognostic diagnostic services for breast, prostate, and colorectal cancers, was acquired by Exact Sciences in 2019 for $2.8 billion (approximately 4 trillion KRW).

This content was produced with the assistance of AI translation services.