DXVX announced on the 4th that it has signed a Memorandum of Understanding (MOU) for business cooperation with Panacura, a company developing treatments based on traditional Korean medicine materials, regarding the development and supply of traditional Korean medicine diagnostic kits.
Panacura is a new drug development company utilizing herbal medicine, founded by Jang Hyeong-jin, a professor at Kyung Hee University College of Korean Medicine. As a resident company in the Kyung Hee University Campus Town, it is leading the in vitro diagnostic medical device industry in the field of traditional Korean medicine by developing herbal allergy diagnostic kits and rapid diagnostic gene amplification (PCR) devices.
Through this MOU, the two companies plan to collaborate on jointly developing various in vitro diagnostic medical devices that can be used in the field of traditional Korean medicine. By combining DXVX’s in vitro diagnostic medical device technology, such as the companion diagnostic service Clidex, with Panacura’s expertise in traditional Korean medicine, they aim to accelerate the development and commercialization of practical products. Additionally, there is an expectation to explore further business opportunities through Panacura’s network of Korean medicine hospitals and clinics.
Park Sang-jin, head of DXVX’s Research and Development (R&D) Center, said, “This MOU with Panacura will be an important stepping stone to further advance DXVX’s Clidex business,” adding, “We will strengthen our diagnostic kit development capabilities and enhance our in vitro diagnostic medical device business to secure competitiveness and continuous growth momentum in the global companion diagnostics market.”
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