LabGenomics Joins US Cancer Moonshot: "The Only Domestic Company Providing Local Cancer Diagnostic Services"

LabGenomics announced on the 6th that it will participate in the cancer conquest project 'Cancer Moonshot' promoted by the US Biden administration.

LabGenomics is the only domestic company providing cancer diagnostic services in the US and will officially join 'Cancer X,' a public-private partnership for promoting Cancer Moonshot.

Jonghoon Lee, CEO of LabGenomics, said, “By joining Cancer X, we have gained confidence that pure domestic cancer diagnostic technology is sufficiently competitive in the global market,” adding, “We will promote the development of diagnostic panels for various cancer types, including hematologic cancer diagnosis, within this year.”

Recently, LabGenomics launched 'OTD-Lung,' a companion diagnostic test targeting non-small cell lung cancer. Subsequently, it has been diversifying its cancer diagnostic portfolio by providing two new cancer panel tests, including 'OTD-Liquid,' a liquid biopsy test for stage 3 and 4 solid tumors, to major general hospitals in Korea. These services are also being immediately introduced to its US subsidiary.

In particular, the company has completed the development of three NGS (Next-Generation Sequencing)-based cancer diagnostic panels to be additionally introduced to CliaLab QDx in the US and is ready to launch K-cancer diagnostic panel services. The newly released cancer diagnostic panel analysis services have improved performance and reduced costs, which is expected to enhance profitability. The re-examination rate of BRCA1/BRCA2 panel analysis was reduced to 0%, increasing accuracy, and the average turnaround time (TAT) for solid tumor analysis services was shortened from 3 weeks to 2 weeks.

CEO Lee emphasized, “We will actively participate in Cancer X activities through our US corporation and contribute to conquering cancer by establishing various cooperative systems such as joint research with global healthcare companies.”

Following the AI healthcare solution EarlyQ service launched in July, LabGenomics has completed patent applications for the core technology of the cancer prediction diagnostic AI platform Mesemble.

Meanwhile, on the 5th, Tim Rich, CEO of QDx Pathology Services, expressed through the local media Business Wire that he expects synergy to be created with LabGenomics. He emphasized that they will strengthen each other's strengths and provide various diagnostic services to customers.