LabGenomics invests in 'Novomics' to strengthen cooperation for US market entry

Molecular diagnostics specialist LabGenomics announced on the 12th that it will participate in Novomics' paid-in capital increase. Since LabGenomics and Novomics began discussions for joint cooperation to enter the U.S. market in October last year, the two companies' entry into the U.S. market has been gradually materializing over approximately six months.

Novomics is a cancer prognosis diagnostics company with outstanding technology, having developed the world's first gastric cancer prognosis diagnostic kit, but it needed to secure funds for stable technology development. In this regard, LabGenomics explained that it highly evaluated Novomics' technology as a partner for pioneering, selling, and expanding in the U.S. molecular diagnostics market and decided to invest.

Novomics is conducting research not only on gastric cancer but also on various cancers such as colorectal and rectal cancer, making it likely to expand its business areas in the future.

A LabGenomics representative stated, "We are very pleased to invest in Novomics, a company with excellent technology," and added, "We look forward to cooperating with Novomics in various anti-cancer fields as well as gastric cancer in the future."

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