Geninus-LabGenomics Collaborate to Enter US Market with Cancer Genomic Analysis Solution

Genius announced on the 14th that it signed a business agreement with Labgenomics on the 13th to enter the US diagnostic service market with a cancer genome analysis solution based on CliaLab. Park Woong-yang, CEO of Genius, and Shin Jae-hoon, Director of Labgenomics (from left), are posing for a commemorative photo. (Photo by Genius)

[Asia Economy Reporter Chunhee Lee] Geninus, a genome analysis specialist company, announced on the 14th that it has signed a memorandum of understanding (MOU) with Labgenomics to enter the U.S. diagnostic service market with its CLIA Lab-based cancer genome analysis solution.

On the 13th, the two companies held a signing ceremony at Geninus headquarters in Songpa-gu, Seoul, attended by key executives including Park Woongyang, CEO of Geninus, and Shin Jaehoon, Director of Labgenomics. Based on this agreement, the two companies plan to provide Laboratory Development Test (LDT) services in the field of cancer genome analysis through the CLIA Lab.

CLIA Lab is a certification system granted by the U.S. Food and Drug Administration (FDA) to laboratories conducting clinical tests for disease diagnosis, prevention, and treatment purposes. Utilizing CLIA Lab allows diagnostic services to be offered in the U.S. market, enabling rapid market entry. In addition, Geninus and Labgenomics have agreed to explore new business opportunities for expanding the domestic NGS business sector in the future.

Park Woongyang, CEO of Geninus, said, “We are now able to supply Geninus’ LDT services to the U.S. through Labgenomics’ CLIA Lab,” adding, “This lays the foundation for cooperation as partners in global expansion beyond past domestic technology transfer cases.”

Shin Jaehoon, Director of Labgenomics, also stated, “As partners for global expansion with Geninus, we will promote the status of K-bio and seek opportunities to develop various new businesses as companions leading the era of precision medicine through cooperation.”

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