[Asia Economy Reporter Jang Hyowon] Somagen, a US bio company and the first foreign company to be listed through a technology special listing, announced on the 30th that it has secured a contract for proteomics analysis services from Stanford University in the United States.
Proteomics analysis services are an omics approach analysis technique that can identify changes in the expression levels of specific proteins induced by external stress factors, treatment, and disease progression. This next-generation analysis service is widely used to discover protein biomarkers in various clinical research fields such as cancer, neurological, cardiovascular, and skin diseases.
The global proteomics market, which was valued at $25.9 billion last year, is expected to rapidly grow to $55.9 billion by 2026, with the US market accounting for about 30% of the global proteomics market.
Last November, Somagen signed a partnership with Olink Proteomics, a Sweden-based global clinical proteomics specialist and Nasdaq-listed company, to enter the multi-omics clinical research market. After launching proteomics analysis services earlier this year, Somagen provided this analysis service for some cancer patient samples from the world-renowned Huntsman Cancer Institute.
A company official stated, "The service provided to the Huntsman Cancer Institute last time was an entry process to verify Somagen's technological capabilities and analytical skills in the US proteomics analysis market. This recent contract not only significantly increased the order volume but also marks the starting point where proteomics analysis service sales become visible." He added, "Somagen has recently completed registration as a service provider with a global US biotechnology pharmaceutical company and expects to secure orders soon."
Hong Soo, Senior Vice President, who introduced the proteomics analysis service to Somagen and contributed to the successful establishment of this business, explained, "If the genome is the blueprint of the human body, the proteome reflects the actual expressed functional traits, providing more useful real-time information about diseases. This is why proteomics is a rapidly expanding field worldwide."
He continued, "In the US market, which holds the largest share in the proteomics field, Somagen will maintain continuous business cooperation with Olink and actively increase orders and sales of proteomics analysis services through vigorous sales activities targeting university research institutes and global pharmaceutical companies in the US starting in the second half of the year."
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