Precision diagnostics company NGeneBio and molecular diagnostics firm Genolution have signed a memorandum of understanding to develop and launch an automated next-generation sequencing (NGS) system.
The Seoul, South Korea-based companies plan to launch a system automating the NGS testing workflow, including nucleic acid extraction, library construction, and data analysis, NGeneBio said in a statement. The scalable system will be designed to provide faster and more accurate NGS results, reducing test times and errors, the firm added.
As part of the agreement, the companies will also work together on the NGS automation equipment and precision diagnostic panels, as well as using the global sales networks of both companies for marketing and distribution.
Financial and other terms of the agreement were not disclosed.
NGeneBio offers NGS IVD products and software; Genolution specializes in nucleic acid extraction automation equipment solutions. In a statement, Genolution said that the agreement would accelerate the firm's entry into the field of NGS-based precision diagnostics; NGeneBio added that the two firms working together would have a "synergistic effect."
