SEOUL, South Korea, April 5, 2016 /PRNewswire/ -- Biodist SA de CV., a leader in molecular solutions in Mexico, and Seegene Inc. (096530.KQ), a leading developer of multiplex PCR technologies in Korea, are establishing a Joint Venture ("JV") in Mexico to target the Mexico and central and southern American market.
They announced that Biodist CEO, Rebeca Miramontes Vidal and Seegene's CEO, Dr. Jong-Yoon Chun held a Joint Venture Signing Agreement ceremony on the 4th of this month at the Hilton Hotel in Mexico City. This ceremony was arranged by the 'Business Partnership Observance' campaign under the Mexico-Korea Summit.
Biodist and Seegene are establishing a technology-based JV that has the ability to develop, manufacture and commercialize localized products by utilizing Seegene's transferred technologies and know-how. Biodist's major role is to assist the JV to get local licensing and provide a marketing and sales distribution network.
Both companies are planning to promptly develop human IVD products tailored for the Mexican market and to enhance cost competitiveness through local production to expand market share in Mexico and Latin American and invigorate business.
Additionally, through the JV, the companies are plaining to enter non-human IVD markets such as the Agricultural and Marine Products Quarantine and Food Safety Testing industry along with the human IVD market.
Mexico's major export commodities are pork, beef, shrimp, and other livestock products. But there has been immense damage from new types of infectious diseases such as FMD (food-and-mouth transmitted disease), mad cow disease and shrimp EMS (Early Mortality Syndrome). For example, for Mexico shrimp cultivation, the volume has decreased by 60% caused by the shrimp virus EMS where optimized quarantine inspection is necessary.
If Seegene's simultaneous high multiplex diagnostic technology is applied to Agricultural and Marine products quarantine, accurate and prompt testing would be possible at a fractional cost. It would also help develop a localized system that is highly cost effective for the government, and will help Mexico to have a quarantine system that will be more advanced compared to its neighboring counties.
Seegene's CEO, Dr. Jong-Yoon Chun said, "As the world's leading developer of multiplex molecular technologies, we are delighted that we have seized the opportunity to transfer innovative proprietary technologies to Mexico. Through this JV, we wish to contribute in advancing Mexico's diagnostic industry to the next level."
Biodist CEO, Rebeca Miramontes Vidal added, "We are delighted to venture out beyond the IVD industry and establish a footprint as a company with such a competitive technological edge as Seegene. We are hoping to contribute to localizing Seegene's advanced technology and expertise in the 'Epidemic Surveillance Program' led by the government."
The two parties have agreed to establish the JV by the end of April and to persistently enhance their competitiveness by providing an optimized system that is tailored for the local environment. Moreover, by utilizing Seegene's transferred technology and know-how, they will diversify business areas to all testing including human and non-human IVD to meet Mexican needs.
Contact:
Seegene
Mr. Israel Rivera Martinez
israel@seegene.com
Tel: +52 (1) 5522606966
Biodist
Dr. Eduardo López Orduña
eduardol@amplibio.com
Tel: + 52 (1) 5528883637
