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- Collaboration includes the transfer of GC Genome's essential wet lab know-how for SNP genotyping service.
YONGIN, South Korea, Nov. 10, 2023 /PRNewswire/ -- GC Genome Corporation, a leading diagnostics company, today announced that it has entered into a collaboration and exclusive license agreement with MP Group CO., LTD, Bangkok, Thailand to commercialize 'Genome Health' for genetic health checkups. Genome Health, a SNP genotyping service, utilizing next-generation sequencing (NGS) to identify risk alleles associated with major cancer types and general diseases, has been developed by GC Genome.
"Genome Health is actively securing a robust presence in South Korea's genetic health checkup market, with a primary focus on disease-related health assessments. With the capability to analyze 45 diseases in a single test, our service ensures efficient and accurate personalized health management. We are enthusiastic about the positive impact Genome Health will make in Thailand and beyond," said Dr. Chang-Seok Ki, MD, CEO at GC Genome.
Under the terms of the agreement, GC Genome will grant MP Group an exclusive license to commercialize Genome Health within the territory of Thailand. This collaboration includes the transfer of essential wet lab technology and know-how required to operate a genetic laboratory within Thailand by GC Genome. Once the technology is handed over, MP Group plans to launch the product under the name "genechecks" and initiate a marketing program to promote it in Thailand. Financial terms have not been disclosed.
"In a country like Thailand, individuals who are not in high-income communities do not receive the same access to care. This is, even more, the case in low to middle-income countries. While we hoped that genome technologies would make access to care more affordable and accessible, this has not happened," said Nathporn Boonbuppa, Chief Executive Officer of MP Group. "Partnership with GC Genome for our genechecks product will bring rapid diagnosis to the masses. We are pleased to be partnering with GC Genome to extend the reach of our genetic technology platform and bring novel new product candidates forward with the potential to benefit Thai citizens."
Along with this collaboration, GC Genome and MP Group have inked a Memorandum of Understanding (MoU) to further their partnership in expanding the range of products developed by GC Genome. This expansion includes technology transfer and encompasses areas such as Health Checkup, Pre&Neonatal Health, Precision Oncology, and Rare Diseases within the territory of Thailand. This MoU will further help increase the strengthen its presence in the Southeast Asian healthcare market by establishing a value chain in the diagnostic field through a strategic partnership with MP Group.
About GC Genome
GC Genome is a leading diagnostics company that aims to connect the care and cure to the world by offering genetic diagnosis services for Oncology, Pre&Neonatal, Rare Diseases, and Health Check-ups and suggesting personalized treatment for longer and healthier lives. Established in 2013 as a GC company, GC Genome operates a CAP-accredited laboratory and places the utmost emphasis on R&D. With steadfast partnerships established worldwide, GC Genome has shown impressive growth momentum, continually expanding our testing capacities.
About MP Group
Headquartered in Bangkok, Thailand, MP Group is a leading distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities. The company is widely recognized for providing pharmaceuticals, medical products and services that help healthcare providers. focuses on creating innovative solutions in medical and genomics solutions that help improve patients' conditions and hospital outcomes. The accelerated our investment in innovation, as well as standardization across platforms, will drive revenue and margin growth. MP Group is seeing customers continue to invest along with macroeconomic tailwinds, such as increasing healthcare digitization, expanding access to care, and an aging population globally. MP Group is well positioned to deliver on our 2024 commitments.
Investor/Media Contact
Sohee Kim
shkim20@gccorp.com
Yelin Jun
yelin@gccorp.com