Seegene Establishes Joint Venture in Mexico
News May 11, 2016
Seegene Inc. has announced that they have established a Joint Venture with a renowned business partner in Mexico, Biodist Group. Partnering with Biodist Group, Seegene will accelerate the adoption of innovative molecular diagnostic (MDx) technologies in the Latin American market that includes Mexico and all the other Central and South American countries.
The new company, “Biodist- Seegene Diagnostics”, was established with an ownership stake of 50% for each company. Seegene will license its proprietary MDx technologies and know-hows to Biodist- Seegene Diagnostics. Biodist Group will provide a marketing and sales distribution network.
With Seegene’s multiplex technologies that enable simultaneous detection and identification of multiple pathogens or targets in a single test, Biodist-Seegene Diagnostics will create new business opportunities to address the local market needs. Biodist- Seegene Diagnostics aims to develop, manufacture and commercialize localized products in Mexico and to expand its market presence to the fast-growing Latin American markets.
In addition to its current business in human IVD, Seegene is seeking to expand the applicability of its technologies into the non-human IVD markets such as those in the agricultural, marine products quarantine and food safety testing industries.
Molecular diagnostic methods, despite their accuracy compared to other conventional methods, have limitedly been used in the human IVD field due to their high costs. Seegene’s technologies, by greatly reducing the test cost through simultaneous detection of multiple pathogens or targets in a single test, will open up new business opportunities in the non-human IVD market space.