SomaGen Signs MOU for Global Parkinson's Research 'GP2' Project: "31 Billion KRW-Scale Genomic Analysis"

Somagen, a US-based multi-omics specialized analysis company, announced on the 19th that it has secured an additional 21.6 million USD (approximately 28 billion KRW) worth of whole genome sequencing (WGS) volume over three years until 2026 through a memorandum of understanding (MOU) with the Michael J. Fox Foundation in the United States.

Through this MOU with the US Michael J. Fox Foundation, Somagen is expected to analyze a total of 80,000 samples over the next three years, including the WGS service volume for 8,000 Parkinson’s disease patients contracted on December 21, 2023.

In addition to the whole genome sequencing (WGS) service, Somagen is also expected to sign an additional contract to perform microarray-based DNA genotyping analysis through this MOU.

The GP2 project is a large-scale global project promoted by the global Parkinson’s disease collaborative research consortium Aligning Science Across Parkinson’s (ASAP), focusing on analyzing the genetic structure to understand the fundamental causes of Parkinson’s disease. GP2 has formed a global research community to quickly address the research demands necessary to overcome Parkinson’s disease. Currently, more than 160 member organizations worldwide participate in collecting samples and data for Parkinson’s disease-related research.

Since 2020, Somagen has participated in the US government-led GP2 project together with the Michael J. Fox Foundation. Through participation in this project, Somagen obtained Parkinson’s disease patient samples from global member organizations and conducted genomic sequencing analysis. It has been leading the provision of genomic analysis services aimed at identifying the causes of Parkinson’s disease and discovering treatments.

Additionally, since 2014, Somagen has continuously participated in national projects led by the US government as a clinical research organization (CRO) providing genomic analysis for various disease research programs and neurological disease conditions. Notably, prior to this recent order, Somagen signed a contract in the third quarter of last year to supply whole genome sequencing (WGS) services for 10,000 Alzheimer’s patients with the US National Institutes of Health (NIH), worth approximately 4.9 billion KRW.

Hong Soo, CEO of Somagen, stated, "By securing a large volume of global Parkinson’s disease genomic analysis, Somagen has established a stable revenue source for the next three years and laid the foundation to become a leading specialized analysis institution in disease and disorder-related research such as Parkinson’s and Alzheimer’s diseases." He added, "In the field of Parkinson’s disease genomic analysis, we have become a multi-omics specialized company with the most extensive data analysis expertise worldwide."