Novomics expands presence in Chinese cancer market

South Korean molecular diagnostics company Novomics Co. announced on Wednesday that it has signed a collaboration agreement with Chinese molecular diagnostics company TopGene.

The purpose of the collaboration is to introduce Novomics' gastric cancer prognosis prediction test technology to the Chinese market. TopGene will provide genomic testing information for Chinese gastric cancer patients, and Novomics will provide diagnostic kits and genetic information consulting. The two companies will cooperate to apply the products and technologies to clinical settings in China.

China is a large market for Novomics, as it accounts for about 40% of the world's gastric cancer patients. However, China currently has no gastric cancer prognosis prediction technology. The collaboration will also allow Novomics to conduct clinical trials in China, where the export of patient specimens is prohibited.

Novomics will have the opportunity to enter the major markets of Zhejiang and Shanghai, and it will also have the opportunity to enter other regions in China. The company plans to expand its testing services to all of China and increase sales.

TopGene, a Guangzhou-based Chinese company specializing in molecular diagnostic analysis services for cancer, boasts a vast network of over 1,300 hospitals spanning more than 30 provinces in China.

Leveraging their expertise in NGS (Next Generation Sequencing) and PCR (Polymerase Chain Reaction), TopGene offers a range of prognostic and diagnostic services for various cancers, including gastric cancer, breast cancer, colorectal cancer, thyroid cancer, and lung cancer.

Write to Jeong Min Nam at peux@hankyung.com