SomaGen Extends Genomic Analysis Service Contract with US Moderna Worth 8.5 Billion KRW for One Year

Somagen, a U.S.-based multi-omics specialized analysis company, announced on the 5th that it has signed a one-year contract to extend the supply of genomic analysis (Sequencing) services for DNA and RNA with Moderna, a global COVID-19 vaccine developer, from the second half of this year to the first half of next year.

Somagen has been steadily increasing its supply volume through an extension contract worth $2.78 million (approximately 3.6 billion KRW) last year and an extension contract worth $1.86 million (approximately 2.4 billion KRW) in the first half of this year with Moderna. This time, it has completed an additional order for one year starting from July this year, worth $6.48 million (approximately 8.5 billion KRW), more than twice the contract volume of last year.

Jungyong Park, head of the CES department at Somagen, stated, “The driving force behind securing this large-scale contract with Moderna was Somagen’s technology, which shortened data production time recently while maintaining high quality, and providing more agile business services than competitors through a close partnership with Moderna’s expansion plans.”

As Moderna’s business continues to expand in COVID-19 vaccine development and cancer therapeutics, it is known that the order volume to Somagen, its genomic analysis service partner, has steadily increased. Meanwhile, Somagen has been providing continuous services to Moderna for nine years since signing the genomic analysis (Sequencing) service supply contract for DNA and RNA in 2014.

Su Hong, CEO of Somagen, said, “With the expansion of orders from Moderna and continuous new orders for NGS and CES services from global pharmaceutical companies such as AstraZeneca, global big pharma GlaxoSmithKline, and Sanofi, Somagen is currently expanding its laboratory and increasing staff at its Boston branch. We will continue to strive to become the leader in the North American genomic analysis market by discovering new clients such as global large pharmaceutical companies like Moderna.”

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