Transformative deal significantly increases IVD development, manufacturing and sales channel for novel ELISA and Chemiluminescent immunoassay platforms
SOUTH SAN FRANCISCO, Calif., Aug. 19, 2021 /PRNewswire/ -- BioCheck, Inc. has announced that it has acquired DRG International, a leading manufacturer of clinical diagnostic and research ELISAs with distributors in over 110 countries. DRG is also the manufacturer of the DRG:HYBRiD-XL®, a fully automated analyzer for Immunoassays and Clinical Chemistry. DRG International, Inc. operates in accordance with the FDA 21 CFR 820 Quality System Regulation as well as the ISO 13485:2016 and MDSAP (Medical Device Single Audit Program) by TÜV Rheinland.
Roy Paxton Yih, CEO of BioCheck, Inc. said " the DRG:HYBRiD-XL® and BioCheck's new automated chemiluminescent platform (ACL-Platform) will enable us to accelerate the availability of optimized, reliable and accurate advanced clinical and research diagnostic tests in the neurological disorders and other diseases. Leveraging BioCheck's assay development capabilities with DRG's development center, the combined companies are well positioned to rapidly scale availability of current tests and develop novel IVD tests for several diseases in the future globally to over 110 countries."
Global IVD Diagnostic Market news provided by "Research and Markets Publication" June 8, 2021
"At an estimated value of over USD 72.02 billion in 2019, the Global In Vitro Diagnostics (IVD) Market is predicted to thrive at a CAGR of 4.1% and valued at over USD 112.05 billion over the forecast year 2020-2030.
"In vitro diagnostics is experiencing a significant popularity in healthcare sector due to its efficacy in diagnosing numerous medical conditions such as infectious diseases, cardiac disorders, cancer, and nephrological disorders.
Upsurge in number of in vitro diagnostic tests across the globe owing to the increased incidences of infectious and chronic diseases drives the growth of IVD market. In addition, rise in geriatric population, which is vulnerable to immunological disorders have been pushing the growth of the market globally."
Yih also added "We look forward to welcoming the highly talented members of the DRG team who bring additional R&D capabilities and manufacturing strength to BioCheck, helping to further elevate our clinical and research IVD business."
About BioCheck, Inc.
Since 1997, BioCheck, Inc. has been engaged in the development and manufacturing of high-quality in vitro diagnostic test kits for the worldwide biomedical, pharmaceutical, and scientific research markets under cGMP and ISO 13485 standards. BioCheck is commercializing the (automated chemiluminescent platform (ACL-Platform)) and associated Covid-19 and other cytokine, metabolic, and cardiovascular test kits to allow convenient, instant, and accurate diagnosis of disease markers with a bench top instrument. BioCheck is financed by seasoned biotech investors Emerging Technology Partners. www.biocheckinc.com
