Global Bio Company 'NEW ENGLAND BioLabs' Senior Executive Visits LabGenomics

by Jang Hyowon

Published 24 Apr.2023 10:23(KST)

LabGenomics announced on the 24th that senior executives from NEW ENGLAND BioLabs (hereinafter NEB), including Carole Keating, Executive Vice President of Overseas Business, Andrew Bertera, Executive Vice President of Sales and Marketing, Isaac B. Meek, Executive Vice President of U.S. Business Development, Bryan Beattie, Executive Vice President of Canadian Business, and Sue Yap, Executive Vice President of Singapore Business, visited LabGenomics. This visit is analyzed as being aimed at discussing mutual strategic partnerships between LabGenomics and NEB.

Global Bio Company 'NEW ENGLAND BioLabs' Senior Executive Visits LabGenomics

A company representative stated, “On the 20th, NEB’s executives in charge of overseas business and sales marketing visited LabGenomics headquarters in person and discussed with LabGenomics management ▲the current status of the domestic Next Generation Sequencing (NGS) market ▲LabGenomics’ technological competitiveness ▲LabGenomics’ K-DNA business ▲and strategic business cooperation plans between the two companies.”

Over the past three years, amid the pandemic period, global leading companies have shown increasing interest in K-diagnostic kits and domestic molecular diagnostic technologies. Against this backdrop, the visit by NEB’s senior executives in overseas business and sales marketing to LabGenomics is interpreted as a strategic move to actively enter the domestic molecular diagnostics market.

Founded in 1974, NEB is a globally leading company in the molecular diagnostics field with over 50 years of experience, specializing in the development of natural enzymes, reagents necessary for cell and gene analysis, and also developing COVID-19 vaccines.

Meanwhile, LabGenomics is a molecular diagnostics specialist company with strengths in the genetic diagnostics field, including the development of Korea’s first NGS-based non-invasive prenatal screening test for fetal abnormalities. Additionally, LabGenomics is creating growth momentum by diversifying its revenue sources through investments in various diagnostic companies with potential business synergies and signing memorandums of understanding.