SOURCE: Seegene

Seegene

April 07, 2015 07:44 ET

Seegene Establishes U.S. Subsidiary

Seegene Technologies Inc. to Drive Growth in the U.S. and Global Molecular Diagnostics Market

CONCORD, CA and SEOUL, KOREA--(Marketwired - Apr 7, 2015) - Seegene Inc. (KOSDAQ: 096530), a leading developer of multiplex PCR technologies, today announced the establishment of a new U.S. subsidiary, Seegene Technologies Inc., in Concord, California from which it will focus on growing its presence in the rapidly evolving global molecular diagnostics market.

Seegene plans to enhance its sales channel in the U.S. by directly managing its existing clients and further expanding its client base through Seegene Technologies. As part of initiatives to expand its global presence in the molecular diagnostics market, Seegene also will continue to pursue a series of future FDA submissions of multiplex reagents for respiratory and gastrointestinal infections that enable simultaneous multiple detection and quantification of various types of pathogens in a single test. In February, Seegene obtained its first 510(k) market clearance for its TOCE™-based herpes simplex virus (HSV) types 1 and 2 assay.

Furthermore, Seegene continues to actively develop mid- to long-term growth drivers through original design manufacturing (ODM) partnerships with global in-vitro diagnostics (IVD) companies. Seegene is currently under active discussion with major IVD firms. As part of these initiatives, Seegene Technologies plans to establish a cGMP facility and phase in a new U.S. manufacturing and supply system by 2017.

"We are very pleased to establish Seegene Technologies, which is an important building block in supporting Seegene's strong and growing global market presence. With the perfection of real time PCR technologies achieved in our technology portfolio of TOCE™ and MuDT™, we will concentrate all our efforts to achieve commercial success in the global molecular diagnostics market," said Dr. Jong-Yoon Chun, founder, CTO and CEO of Seegene.

About Seegene
Seegene is the world's leading developer of multiplex molecular technologies and multiplex clinical molecular diagnostics (M-MoDx). Seegene's core enabling technologies -- ACP™, DPO™, READ™, TOCE™, mTOCE™ and MuDT™ -- are the foundation for M-MoDx tests that can simultaneously detect multiple targets with high sensitivity, specificity and reproducibility. Seegene's products detect multi-pathogens with great reliability and throughput, ultimately providing the most economical basis for saving time, labor and cost. Seegene's mission is to maintain leadership in molecular diagnostics for infectious diseases, genetics, pharmacogenomics, and oncology using innovative proprietary technologies.

For more information please visit www.seegene.com or call +301-762-9066.

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