LabGenomics Signs Reagent Distribution Agreement with Twist Bioscience... "Expecting Strengthened NGS Position"

(From left) Emily M. Leproust, CEO of Twist Bioscience; Mark Dupal, Vice President; Kim Jung-joo, CEO of LabGenomics. / Photo by LabGenomics

Genome molecular diagnostics specialist LabGenomics announced on the 27th that it has signed a distribution agreement with Twist Bioscience (hereinafter Twist) for the sale of next-generation reagents.

Along with this distribution agreement, the two companies have also established a strategic partnership to expand the NGS (Next-Generation Sequencing) market. In particular, Twist's CEO Emily M. Leproust and Vice President Mark Dupal visited LabGenomics headquarters to discuss technical cooperation and sales strategies.

Kim Jeong-ju, CEO of LabGenomics, said, "We had detailed and close discussions regarding NGS business cooperation with Twist," adding, "It is expected that new annual sales exceeding approximately 10 billion KRW will be generated through domestic distribution and application product development of Twist's products."

He continued, "Both companies will actively leverage their respective future technologies and sales networks to create synergy and achieve revenue growth."

Twist is a company specializing in DNA (genome) synthesis and large-scale production based on proprietary cutting-edge miniaturization technology. It provides NGS application services used in fields such as disease diagnosis, pathogen identification, reproductive health, and agriculture.

CEO Kim stated, "We will jointly develop high-quality NGS test panels with Twist and actively expand our portfolio," adding, "We will continue to secure additional contracts with global leading companies in the genomics field to strengthen our position in the NGS sector."

Meanwhile, LabGenomics signed a licensing agreement on the 12th with New England Biolabs (NEB) in the United States for gene analysis reagents and equipment. Established in 1974, NEB is a diagnostic company specializing in the development and production of reagents necessary for cellular and genetic analysis.