Ngenbio "Driving Growth with Liquid Biopsy Diagnostic Products and Entry into the U.S. Market"

Precision diagnostics platform company NGEN Bio (CEO Choi Dae-chul) held an online investor conference on the 25th to announce its core growth strategies for 2023.

Through this investor conference, NGEN Bio presented its core growth strategies for 2023 as ▲ commercialization of liquid biopsy diagnostic technology ▲ entry into the U.S. market. The company explained that the results of its focused investments in 2022 in liquid biopsy technology development and U.S. market expansion have become visible.

Liquid biopsy diagnostic technology overcomes the limitations of burdensome tissue biopsies, which require tumor samples obtained through invasive procedures or surgery, allowing for easy diagnosis and enabling repeated testing depending on the patient’s condition. This is expected to create new diagnostic demand in cancer treatment and management stages. Accordingly, NGEN Bio plans to target the global liquid biopsy market, which is estimated to reach approximately 5 trillion KRW by 2027, using domestically developed technology.

NGEN Bio plans to commercialize liquid biopsy diagnostic technologies for acute myeloid leukemia, lung cancer, and degenerative brain diseases such as Alzheimer’s dementia by combining them with its precision diagnostic platform 'NGeneAnalySys.'

NGEN Bio’s liquid biopsy diagnostic technologies include ▲ technology to detect cancer mutations from circulating tumor DNA fragments derived from micro cancer cells in the blood ▲ technology for recurrence monitoring of lung cancer using ctDNA ▲ highly accurate early diagnosis technology for dementia through multi-biomarker diagnosis from blood. These diagnostic technologies can provide information on recurrence and treatment response in acute myeloid leukemia patients, as well as recurrence, treatment response, and anticancer drug selection in lung cancer patients, thereby aiding future treatment directions. In particular, early diagnosis of degenerative brain diseases such as Alzheimer’s can maximize the effectiveness of therapeutic agents.

Additionally, to actively promote the NGS precision diagnostics business in the U.S. market, NGEN Bio plans to establish a U.S. subsidiary in the first half of the year and shift the center of its overseas business to the U.S. The company also plans to complete strategic investment and commercialization of a CLIA lab currently under discussion within the year. Through the invested CLIA lab, NGEN Bio will sequentially set up lab services using its cancer precision diagnostic and liquid biopsy products, and will pursue a dual expansion strategy by spreading products and services at once through NGS precision diagnostic business cooperation and product exports with CLIA labs in other regions.

CEO Choi Dae-chul of NGEN Bio emphasized, “The next COVID-19 for Korea will be NGS precision diagnostics,” adding, “This year, we will expand the NGS precision diagnostic lineup through commercialization of next-generation core technologies such as blood-based liquid biopsy, and focus on regional hubs including the U.S., Germany, Saudi Arabia, and Vietnam to expand our overseas business.”

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