DigitalOptic-NobleBio Launch Rapid Diagnostic Kit Development... "Partnering with BioFront"

[Asia Economy Reporter Jang Hyowon] Digital Optics is expanding its bio business portfolio by partnering with a specialized in vitro diagnostics company to develop rapid diagnostic kits.

Digital Optics announced on the 7th that it has signed a tripartite Memorandum of Understanding (MOU) with its largest shareholder Noble Bio and Biofront for the joint commercialization of COVID-19 rapid diagnostic kits and in vitro diagnostic devices, including development, production, and domestic and international sales.

From the left, Seo Jeong-gu, CEO of BioFront; Baek Gye-seung, Chairman of NobleBio; Kim Ki-tae, President of DigitalOptic Medical Device Business Division. / Photo by DigitalOptic

Through this tripartite agreement, Digital Optics, Noble Bio, and Biofront plan to cooperate mutually to jointly promote the COVID-19 rapid diagnostic kits and other in vitro diagnostic devices business. Noble Bio, a specialized manufacturer of specimen collection kits, will receive raw materials from Biofront, a rapid diagnostic kit development specialist, and jointly conduct research and development through production of rapid diagnostic kits and other in vitro diagnostic devices.

With its global network, Digital Optics plans to promote domestic and international sales based on the sales rights of products jointly developed by Noble Bio and Biofront, and aims to enter the global market for in vitro diagnostic devices including rapid diagnostic kits.

In particular, Biofront has experience and know-how in developing and obtaining export approval for the high-performance COVID-19 rapid antigen diagnostic kit RapiSure COVID-19 Ag, which has a sensitivity (positive detection rate) of 93.8% and specificity (negative detection rate) of 100%, developed earlier this year. The synergy is expected in the commercialization of in vitro diagnostic devices by combining Noble Bio’s specimen collection kit development technology and Digital Optics’ global sales network.

Additionally, to actively expand its in vitro diagnostic device business, Digital Optics has recruited Kim Gitae, head of research at Noble Bio, as the president in charge of the medical device business.

President Kim Gitae graduated with a Ph.D. in Biochemistry and Molecular Biology from Hanyang University and completed the top researcher course in life sciences at the National Cancer Center. Having served as head of research at Noble Bio and as an evaluation committee member at the Korea Health Industry Development Institute, he is expected to greatly contribute to the expansion of Digital Optics’ new growth engine in the medical device business.

A company official stated, “So far, Digital Optics has focused on expanding its bio business portfolio that can maximize profits based on a stable sales foundation related to COVID-19 specimen collection transport kits. Through this tripartite agreement, we expect to achieve performance growth this year by actively discovering new items such as rapid diagnostic kits and in vitro diagnostic device development.”