NGS (Next-Generation Sequencing) based precision diagnostic platform specialist company Ngenbio (CEO Choi Dae-chul) announced on the 23rd that it has signed a business agreement with PCL, located in Indiana, USA.
Since its establishment in 2013, PCL has obtained the US Clinical Laboratory Improvement Amendments (CLIA) certification and the College of American Pathologists (CAP) accreditation, providing toxicology, infectious disease, and hematologic disorder testing services to patients and hospitals/clinics in 17 states, with annual sales of 47 million dollars, making it a large-scale lab.
PCL highly evaluated Ngenbio's NGS precision diagnostic products, analysis software, and technological capabilities, and it was reported that this business agreement was made to expand testing services. Ngenbio expects to quickly supply products and services through the various US insurance networks that PCL possesses by utilizing its accumulated NGS diagnostic experience.
Meanwhile, since establishing its US corporation last July, Ngenbio has been diligently progressing business cooperation and acquisition preparations with several CLIA labs in the US. The first due diligence for acquiring an NGS specialized CLIA lab was completed in July, and that CLIA lab is currently conducting product testing for laboratory-developed test (LDT) services using Ngenbio products.
The lab Ngenbio is negotiating with is already performing NGS testing and providing testing services by receiving high reimbursement rates from insurance companies. Starting with blood cancer and solid tumors among Ngenbio products, they plan to add NGS cancer diagnostic testing services. A Ngenbio representative stated, “We will complete acquisition negotiations this year and expand the NGS business in the US.”
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