BEIJING, Aug. 23, 2021 (GLOBE NEWSWIRE) — Genetron Holdings Limited (“Genetron Health” or the “Company”, NASDAQ: GTH), a leading precision oncology platform company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development, today announced the signing of a strategic partnership with Shanghai Yikon Genomics Technology Co., Ltd. (“Yikon Genomics”), a company that focuses on reproductive health diagnostic testing. Genetron Health expects this partnership to contribute to its 2021 revenues.
Under the agreement, Yikon Genomics will have the exclusive rights to use Genetron Health’s S5 instrument for reproductive health applications in the China market. Yikon Genomics currently offers pre-pregnancy, prenatal and inheritance disorder testing solutions for a network of over 400 hospital partners in China. The partners will cooperate with each other to drive forward registration processes for new assays that are developed on the S5 platform. Genetron Health will also support Yikon Genomics’ commercialization efforts. GENETRON S5 has been successfully used in many different oncology settings, and through this partnership, will be expanding its applications to include reproductive health, widening the Company’s scope of precision medicine.
Approved by the NMPA in 2019 and based on new semiconductor sequencing technology, GENETRON S5 is China’s desktop, clinical-grade, medium-throughput next generation sequencing (NGS) platform. GENETRON S5’s advantages lie in its fast detection, flexible throughput, low initial sample size requirements, and comprehensive range of different applications. Genetron Health has used this platform to develop in-vitro diagnostic (IVD) kits that cover multiple cancer types and different sample types, including the 8-gene Lung Cancer (Tissue) assay. With GENETRON S5, the Company has developed an integrated solution for molecular diagnostics laboratories, and carried out clinical trials and scientific research partnerships with many different organizations. These efforts have enabled hospitals in China to adopt NGS technology for independent, clinical diagnostic use.
“GENETRON S5’s flexible and open characteristics have laid the groundwork for clinical applications in the reproductive health field. We are committed to using an open platform to provide versatile, multi-dimensional solutions for our hospital partners,” said Sizhen Wang, co-founder and CEO of Genetron Health. “We are pleased to become Yikon Genomics’ strategic partner. We hope to leverage our respective strengths so that we can introduce a comprehensive range of high-performance, personalized, precision medicine solutions to patients, making innovative genetic technology more accessible to the public.”
“Genetron Health focuses on precision medicine and genomics research, possesses a high-quality innovation platform, and has a strong track record of successfully commercializing new technologies,” said Sijia Lu, co-founder and CEO of Yikon Genomics. “We think there are significant synergies in this partnership, and we are excited to adopt the ‘platform + reagent’ strategy for China’s reproductive health market.”
About Genetron Holdings Limited
Genetron Holdings Limited (“Genetron Health” or the “Company”) (Nasdaq:GTH) is a leading precision oncology platform company in China that specializes in cancer molecular profiling and harnesses advanced technologies in molecular biology and data science to transform cancer treatment. The Company has developed a comprehensive oncology portfolio that covers the entire spectrum of cancer management, addressing needs and challenges from early screening, diagnosis and treatment recommendations, as well as continuous disease monitoring and care. Genetron Health also partners with global biopharmaceutical companies and offers customized services and products. For more information, please visit ir.genetronhealth.com.
About Yikon Genomics
Yikon Genomics, established in 2012, is dedicated to the development and application of single-cell whole-genome amplification and sequencing technologies. The company’s primary focus is reproductive health, providing sophisticated testing solutions for pre-pregnancy, prenatal and inheritance disorders in China. Yikon Genomics have partnered with over 400 medical institutions and hospitals in China, as well as a number of world-class research institutes. Its business covers 32 provinces and municipalities in China, and through partnerships with international reproductive medicine centers, has expanded to more than 20 countries worldwide, including the United States, United Kingdom, Russia, and Japan.
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This press release contains forward-looking statements within the meaning of federal securities laws which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
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