· Partnership with Genecast Biotechnology which specialises in oncology testing and diagnostics for cancer diagnosis, tumor profiling and monitoring in the People’s Republic of China (“PRC”)
· Both parties will collaborate to develop and market laboratory-developed tests (“LDTs”) in the field of circulating tumor cells (“CTCs”) based on Biolidics’ technology
· Further validation of Biolidics’ unique and position as an upstream technology within the cancer diagnostic value-chain in the field of liquid biopsy
· New channel to potentially increase the sales of Biolidics’ ClearCell® FX1 System and CTChip® FR1 biochips in the PRC
Biolidics Limited (“Biolidics” or the “Company”), a medical technology company with a focus on cancer diagnostic solutions, is pleased to announce that it has entered into a partnership with Genecast Biotechnology Co., (“Genecast Biotechnology”) (臻和(北京)科技有限公司) to develop new commercial applications in the PRC using Biolidics’ ClearCell® FX1 System and CTChip® FR1 biochips.
As an upstream technology within the cancer diagnostic value-chain in the field of liquid biopsy, the ClearCell® FX1 System has the potential, when coupled with other downstream analytical tests, to serve as a platform technology for the diagnosis, prognosis, treatment selection and treatment monitoring of various types of cancers, through the development of a wide range of clinical or LDTs.
Based in Beijing, Genecast Biotechnology focuses on next generation sequencing technology and bioinformatics in oncology testing and diagnostics for cancer diagnosis, tumor profiling and monitoring.
Genecast Biotechnology has attracted more than US$65 million of venture capital funding since December 2014, with Matrix Partner China and Loyal Valley Capital as its Series C investors. It has established several partnerships and collaborations with many globally reputable medical institutions, life sciences, biotech and pharmaceutical companies to develop in vitro diagnostic device (“IVD”) and companion diagnostic tests.
With more than 400 employees (more than 20% having a doctorate degree) and a nationwide sales network, Genecast Biotechnology also has a laboratory, accredited by the prestigious College of American Pathologists (“CAP”) and ISO 15189 certified, dedicated to the molecular biology medical tests for cancer patients.
Bringing Clarity to Cancer Under the partnership agreement, Biolidics will provide the ClearCell® FX1 System, CTChip® FR1 biochips and other ancillary materials and consumables, as well as installation and training to Genecast Biotechnology and assist in the development of LDTs in the field of CTCs based on Biolidics’ technology.
This partnership is Biolidics’ third partnership in the PRC. It has previously entered into agreements with Hunan Agen Medicine Laboratory Technology Co., (“Hunan Agen Lab”) and Holistic Integrative Pharmacy Institute, Hangzhou Normal University for similar commercial application objectives.
It is worth noting that Hunan Agen Lab has recently started to offer LDTs (related to CTCs) as clinical services to cancer patients in Hunan Province.
Mr. Ivan Lew (廖光品), Executive Director and CEO of Biolidics, said: “By combining our novel, patented technology with Genecast Biotechnology’s focus on cancer diagnostics and precision medicine in the PRC, we are working together to develop exciting clinical innovations to provide more sophisticated, healthcare solutions to benefit a greater number of cancer patients. This partnership will be one of our strategic initiatives to unlock the full potential of our liquid biopsy technology and generate industry- diagnostic services for cancer patients in the PRC.”
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