LabGenomics Signs Liquid Biopsy Contract with Dong-A University Hospital... "Cancer Diagnosis with a Drop of Blood, Entering the 230 Trillion Won Market"

LabGenomics announced on the 28th that it has signed a contract with Dong-A University Hospital for cancer diagnostic liquid biopsy services.

LabGenomics will provide the NGS (Next-Generation Sequencing)-based OmniTumorDetect-Liquid service (hereinafter, liquid biopsy diagnostics for solid tumors) to Dong-A University Hospital, a leading university hospital in the Yeongnam region, targeting solid tumors.

The newly introduced liquid biopsy diagnostic service for solid tumors detects DNA fragments (circulating Tumor DNA) shed from cancer cells in the blood through an NGS-based precise and highly sensitive analysis method. It is expected to increase treatment possibilities for cancer patients who have difficulty undergoing tissue biopsy and provide opportunities for optimal drug selection.

Compared to conventional tissue biopsy, which involves removing tumor tissue from the patient's body for examination, liquid biopsy diagnostics can significantly reduce both testing time and costs. By simply collecting blood and checking cell-free DNA (cfDNA) in the blood, even early-stage cancer can be diagnosed, making it a next-generation diagnostic technology gaining attention.

According to JP Morgan and IVD Market reports, the liquid biopsy market size is expected to grow to $200 billion (approximately 230 trillion KRW) by 2027. Many domestic diagnostic companies, including global diagnostic firm Guardant Health, are focusing their capabilities on developing liquid biopsy technologies.

The NGS-based liquid biopsy diagnostic service for solid tumors introduced by LabGenomics this time provides diagnostic accuracy similar to Guardant Health’s “Guardant 360 test.” However, the service cost can be significantly reduced, which is expected to enable rapid market penetration.

Myungshin Kim, Executive Director of LabGenomics and Head of the Clinical Diagnostics Division, stated, “We have already built trust by providing our NGS-based cancer gene panel service at Dong-A University Hospital, which led to the adoption of this liquid biopsy diagnostic service for solid tumors. In particular, the medical staff at Dong-A University Hospital showed high confidence in the liquid biopsy sample results for solid tumors, and since the reimbursement code for this liquid biopsy service is open, we expect to provide it to patients starting in September.”

He added, “Dong-A University Hospital has also shown great interest in the 'NGS Cancer Companion Diagnostic Test (ODxTT)' service used for targeted anticancer drug treatment in non-small cell lung cancer patients, which was previously introduced at Konyang University Hospital. We plan to have positive discussions with cancer specialists. We will actively promote the introduction of upgraded cancer diagnostic services, focusing on tertiary general hospitals, including university hospitals that already use our cancer gene panel services.”

In the diagnostic industry market, this liquid biopsy cancer diagnostic service is evaluated as having quickly entered the market through technological cooperation with IMBDX. Following the recent launch of cancer diagnostic services in the U.S. market through technological cooperation with NgenBio, LabGenomics is creating synergies with various domestic diagnostic companies.

Jonghoon Lee, CEO of LabGenomics, emphasized, “We are the first in Korea to acquire a mid-to-large-sized clinical lab in the U.S. and are currently discussing collaborations with various diagnostic content companies. We will successfully lead Korean diagnostic companies’ entry into the U.S. market.”

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