Healthcare service provider NGeneBio Co., Ltd. receives $10 million from multiple investors

NGeneBio Co., Ltd. a leading company in molecular diagnostics (MDx) and companion diagnostics (CDx), recently received 12 billion won or $ 10 million worth of investment from multiple venture capitals like UTC Investment, IMM Investment, DSC Investment and SL Investment.

NGeneBio, which was founded in October 2015, is headquartered in Seoul and is a joint venture between Genecurix and Korea Telecom.

Innovator in Precision Medicine

NGeneBio is known for its innovative products and services based on competencies in bioinformatics and expertise in molecular diagnostics (MDx). The startup’s focus is to develop various MDx and companion diagnostics (CDx) products which predict efficacy and safety of targeting therapeutics. The company also develops and provides next-generation sequencing (NGS)-based in vitro diagnostics (IVD) panel and clinical analysis software (SW).

“NGeneBio’s product & services are convenient

for both of physicians and patients.”

The company also launched an NGS-based hereditary breast/ovarian cancer panel (BRCAaccuTestTM) with clinical analysis S/W (NGeneAnalysisTM) and received their CE-IVD mark in June 2017. In the near future, the startup wants to launch NGS panels for a solid tumour/hematologic malignancies and BRCA PARP inhibitor CDx test, inclusive of clinical data analysis SW platform.

Mission to become leading global healthcare service provider

NGeneBio’s mission is to work with the support of the laboratory medicine community to provide clinically validated NGS-IVD / CDx products/services with the convergence of innovative biotechnology and bioinformatics.

The company is already working on research and development projects in cooperation with an anticancer diagnosis project team, domestic and foreign hospitals and biotech companies. The firm is striving to secure technology and develop a business model of mid- to long-term perspectives through external patent license-in, in addition to the company’s own patent discovery.

The latest investment has certainly boosted the chances of further developments in the field of molecular diagnostics (MDx) and companion diagnostics (CDx) for the company. “We will grow into a global healthcare company leading the precision medical market in the era of the Fourth Industrial Revolution by focusing on high-quality service development, technological advancement and global market expansion through investment attraction,” said Daechul Choi, the CEO of NGeneBio.

The company’s goal is to be a global healthcare service provider based on four core values ​​of challenging execution, respect for life, human resource development and customer trust.