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Berry Genomics and Prenetics Establish JV to Enter China's Consumer Genetics Market

2018-11-09 00:22

- Global genetics testing market expected to be worth USD 50-billion per annum by 2026 [1]

BEIJING and HONG KONG, Nov. 9, 2018 /PRNewswire/ -- China's leading clinical genomics testing company, Berry Genomics (SHE: 000710), and Prenetics Limited -- the leading consumer digital health and genetics testing company in Southeast Asia and Europe -- today announce that both parties will establish a joint venture company that will deliver transformative consumer digital health and genetics testing services in mainland China.

The joint venture, the first of its kind to operate in China, will provide an array of integrated digital health and genetics testing services aimed at helping millions of consumers in mainland China understand their genes and how it relates back to their health. 

The joint venture will work on a direct-to-consumer model, allowing consumers the ability to purchase its suite of genetics enabled health services directly online. The joint venture will also seek collaborations with insurers, governments and other key stakeholders to ensure local market needs are met. The services will launch in the first quarter of next year.

Daixing Zhou, CEO and Co-Founder, Berry Genomics, says: "We are extremely excited about the potential of the direct-to-consumer testing market in mainland China. Consumer genetics can provide a genetic reference for people's health and promote people's wellness. By joining forces with Prenetics, we believe that we can effectively complement one another and ultimately provide valuable benefits to millions of people across mainland China. This has the potential to make a huge impact in the lives of many families across the country."

Danny Yeung, CEO and Co-Founder, Prenetics says, "We are thrilled to partner with Berry Genomics. Berry is an industry leader in NIPT and has developed a proven business model in genomics around a complex challenge in mainland China. Prenetics was founded on the principle of giving everyone the power to be in control of their own health. We believe everyone should have access to high-quality and affordable genetic testing and digital health services. Together with Berry, we will create awareness on health and the power of prevention through genetic understanding."

About Berry Genomics:

Founded in May 2010, Berry Genomics (SHE: 000710) is a pioneer in China's genomics industry, dedicated to transforming gene testing technologies from lab only into clinical applications. Berry Genomics has successfully spread genomics testing as a valuable disease screening technology, and built a strong network with academics and doctors. Berry Genomics keeps continuous investment in R&D, and exploring more solutions of detecting more diseases. Berry's mission is to serve society to improve the genetic health of all peoples for the benefit of humankind.

Berry Genomics is headquartered in Beijing and has set up 8 medical testing laboratories in 8 cities. It has a production base in Hangzhou, and set up Xcelom Limited in Hong Kong. The company serves over 2,000 hospitals in more than 30 provinces. In August 2017, Berry Genomics was successfully listed on the main board of China A shares. For more information, please visit the company's official website: http://www.berrygenomics.com/

About Prenetics

Prenetics is one of the leading global genetics testing and digital health companies. The Company has a team of over 120 people, and is spread across eight offices in Asia, Europe and South Africa.

Prenetics' mission is to help people lead healthier, more active lives by empowering them with personalized, predictive, and preventive measures in the form of the latest, proven innovations in DNA and mobile technology. With backing of over US$50mn strategic investments from powerhouses such as Alibaba and Ping An, Prenetics is helping millions of people live healthier lives. Learn more at www.prenetics.com

[1] Craig, Wylie. The Advent of Consumer Owned Genetic Profiles. Arthur D. Little, 2017.
http://www.adlittle.us/sites/default/files/viewpoints/adl_the_advent_of_consumer_owned_genetic_profiles.pdf

Media contact:

Berry Genomics: Ms. Karen Jiang, jiangke@berrygenomics.com
Prenetics: Ms. Colleen Wong, colleen@prenetics.com

Cision View original content:http://www.prnewswire.com/news-releases/berry-genomics-and-prenetics-establish-jv-to-enter-chinas-consumer-genetics-market-300746560.html

Source: Berry Genomics and Prenetics

Related stocks: Shenzhen:000710

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