BioCore has signed a memorandum of agreement with NGeneBio to jointly explore overseas markets of RT-PCR-based molecular diagnosis products by combining their business expertise and network.

Under the MOU, BioCore’s molecular diagnostic tests related to tuberculosis and organ transplantation will be marketed under the brand of NGeneBio, which has a network of 20 local distributors overseas, the two Korean companies said on Thursday.

BioCore, a precision medical genome analysis company, was recently accredited by the College of American Pathologists (CAP) for next-generation sequencing (NGS) and microarray clinical testing.

The company’s molecular diagnostic products received approval from the Ministry of Food and Drug Safety in Korea based on their clinical efficacy. The company is also cooperating with European regulatory authorities for marketing approval.

NGenBio is a precision diagnosis platform company that provides optimal and personalized treatment methods to patients through NGS diagnosis and genetic testing.

The company has developed precision diagnostic products such as ONCOaccuPanel, a solid cancer precision diagnostic product, and is increasing sales in genetic testing.

The global PCR-based diagnostics market is worth about $8.4 billion as of 2021, accounting for the largest share in the molecular diagnostics market.

By Lee Byung-moon and Minu Kim

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