China has been a huge market for global biotech and pharmaceutical firms to invest in. To establish an additional headquarter in China, Geneseeq Technology, a precision oncology company, has collaborated with AstraZeneca to build a Bio-Diagnostic Innovation Center in Guangzhou, China. This is Geneseeq’s fourth core laboratory in the country.
Focus on Early Detection of Cancer
Early detection has a big impact on the survival rate of cancer patients, and it’s one of Geneseeq’s key market focuses. Dr. Yang Shao, The founder and CEO of Geneseeq China, pointed out that “the spotlight for the future of cancer care is on the full-course management approach to bring greater benefits to patients, including perioperative monitoring for early-to-mid stage cancers, and cancer early screening and detection.”
The innovation center will leverage Geneseeq’s cancer diagnostics tools and AstraZeneca’s experience in oncology therapeutics to provide an improved stand-of-care solution and scalable diagnostic tools to Chinese patients. It is expected to create a program that can bring disease diagnosis, treatment, and rehabilitation together.
The Bio-Diagnostic Innovation Center in Guangzhou will be Geneseeq’s fourth laboratory in South China other than Nanjing, Shanghai, and Beijing.
Long Term Investment in China
Founded in Toronto in 2008, Geneseeq established a headquarter in Nanjing in 2013 to develop genomic diagnostic tools on lung cancer, gastrointestinal cancer, breast cancer, prostate cancer for the China market. In December 2019, Geneseeq secured a $114 million investment in a Series D financing round led by China Reform Holdings and other investors such as Lilly Asia Ventures, SoftBank China Venture Capital, and SoftBank Group.
In March 2021, Geneseeq teamed up with Illumina to develop comprehensive in-vitro diagnostic (IVD) NGS testing kits for cancer patients in China. The collaboration aims to combine Illumina’s sequencing platform with Geneseeq’s genomic profiling panel to detect genomic alterations in 425 cancer-related genes.
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