- Seegene announces partnership with Bio-Rad for the development and commercialization of infectious disease molecular diagnostic products
- Diagnostic tests designed for the pandemic and the post-pandemic era with high multiplex technology
- A significant step forward for Seegene in expanding its business to the U.S., the world’s biggest in vitro diagnostics market.
SEOUL, South Korea, July 6, 2021 /PRNewswire/ — Seegene Inc. (KQ 096530), a South Korean leading biotechnology firm has signed a partnership agreement with American biotechnology company Bio-Rad Laboratories, Inc. to support entering the U.S. market.
Seegene announced on June 1 that it has signed a partnership with Bio-Rad, laboratories, Inc. for the clinical development and commercialization of infectious disease molecular diagnostic products. Under the terms of the agreement, Seegene will provide diagnostic tests for use on Bio-Rad’s CFX96™ Dx Real-Time PCR System for the U.S. market, pending clinical development and approval from the U.S. Food & Drug Administration (FDA).
According to the ‘Report on the U.S. In Vitro Diagnostics market Trend’ released by the Korea Trade-Investment Promotion Agency (KOTRA) in 2020, North America is a very important market, accounting for about 37 percent of the global in vitro diagnostic industry. However, it has been difficult for newer foreign companies to enter the U.S. market because the market has already been dominated by well-established global companies and the U.S. government prioritizes its domestic products. Under such circumstances, the supply deal with Bio-Rad, a biotech giant with over 60 years of history, is expected to be a significant step forward for Seegene in entering the U.S. market.
Founded in 1952, Bio-Rad is a global leader in the fields of life science and clinical diagnostics. The company has been Seegene’s major partner over the past ten years. Previously, Seegene was able to generate some 1 trillion won worth of sales revenue by applying its diagnostic assays to Bio-Rad’s PCR systems that had already been installed globally. This new partnership is expected to streamline the process for Seegene to seek U.S. FDA clearance and the partnership of the two world class companies
Seegene plans to submit applications for FDA approval for its diagnostic reagent made of the firm’s high-multiplex diagnostic technology, which is unique in its capability to simultaneously screen multiple target genes on a high throughput real time PCR system. Using Seegene’s proprietary technologies, it can also selectively amplify target genes while identifying different viruses and the number of viruses. Thanks to the deal, Seegene will partner with Bio-Rad to plan to seek U.S. FDA clearance and offer a wide range of its products to U.S. customers.
Under the deal, Seegene intends to seek U.S. FDA clearance for clinical assays on Bio-Rad’s real-time PCR system ‘CFX96 (TM) Dx Real-Time PCR System’.
This includes an intent to clear Seegene’s ‘AllplexTM SARS-CoV-
The AllplexTM SARS-CoV-2/FluA/
Ho Yi, Chief Sales and Marketing Officer of Seegene said, “To expand our business in the U.S. market, it is important to work closely with a global company like Bio-Rad that has comprehensive network in the region. Together with Seegene’s advanced