NGeneBio to transfer NGS tech to UAE company

South Korean medical diagnostic company NGeneBio Co. announced on Tuesday that it signed a contract with the United Arab Emirates (UAE)-based medical company Euro Alliance to transfer next-generation sequencing (NGS)-based precision diagnostic medical device manufacturing technology.

Euro Alliance is an investment and medical technology commercialization specialist company based in Switzerland and Dubai, the UAE. It conducts healthcare-related businesses in India as well.

Under the contract, NGeneBio will transfer NGS precision diagnostic products, analysis software, and production know-how to Euro Alliance in the UAE region.

The two companies will also establish a joint venture in India and the UAE for NGS business operations.

NGeneBio will receive royalties proportional to future sales over the 10 years as fees for the technology transfer. Meanwhile, Euro Alliance will handle business operations and infrastructure investments.

Write to Jeong Min Nam at peux@hankyung.com