[Special Stock] Labgenomics Likely to Pass US Biosecurity Act in Senate... Expected to Benefit Domestic Genome Analysis

Labgenomics is showing strong performance. This is attributed to expectations that it will benefit from the passage of the 'Biosecure Act' targeting China in the U.S. House of Representatives.

As of 12:37 PM on the 11th, Labgenomics is trading at 2,920 KRW, up 6.38% compared to the previous day.

According to industry sources, the likelihood of the Biosecure Act passing the U.S. Senate has increased, leading to forecasts that domestic bio companies will benefit.

The 'Biosecure Act,' proposed by the U.S. Congress to curb Chinese bio companies, has passed the House and now awaits Senate approval and the President's signature for final enactment. Bloomberg estimates the probability of final passage at around 70%.

If Chinese companies BGI and MGI become regulated entities, domestic genome analysis companies such as Labgenomics, which localize their genome analysis services in the U.S. through American subsidiaries, are expected to gain indirect benefits.

Labgenomics already provides gene analysis services such as Whole Exome Sequencing and Whole Genome Sequencing in global markets including Korea, the Middle East, and Europe, and owns a medium-to-large scale CLIA lab in the U.S., making it highly likely to attract significant attention domestically.

The Biosecure Act is legislation aimed at restricting transactions with companies designated by the U.S. Congress, based on concerns over the leakage of Americans' genetic information and the development of biological weapons through Chinese genome analysis companies.