Werfen, a worldwide leader in specialized diagnostics, becomes the first European company to finalize the partnership agreement to join Seegene's technology-sharing initiative
The two companies will co-establish a NewCo in Spain to serve as a strategic hub in Europe, accelerating global expansion of the initiative
Localization of Seegene's syndromic real-time PCR product development and manufacturing will bring diagnostic products specifically tailored to the needs of the local market
SEOUL, South Korea, Oct. 8, 2024 /CNW/ -- Seegene Inc., a leading South Korean company providing a total solution for PCR molecular diagnostics, announced today the finalization of a partnership agreement with Werfen, a worldwide leader in specialized diagnostics, on the technology-sharing initiative. Under the agreement, Seegene and Werfen will set up a NewCo in Spain, Werfen-Seegene, upon the conclusion of mandatory government approvals anticipated by the first half of 2025.
Logo (PRNewsfoto/Seegene Inc.)
This partnership builds on the momentum of the technology-sharing initiative, which includes the first NewCo partnership in March 2023 with Hylabs, a leading diagnostic company in Israel.
The technology-sharing initiative aims to share Seegene's advanced diagnostic and data analysis technologies globally, including syndromic real-time PCR and an automated product development system (SGDDS), with a leading company partnered in each country. Seegene's syndromic real-time PCR technology represents a breakthrough in molecular target detection. It enables the simultaneous detection of up to 14 pathogens in a single reaction tube, with quantitative information for each target.
Partnering companies will collaborate with local scientists and experts to develop diagnostic tests tailored to the needs of their communities and fields, spanning a wide range of human and non-human diseases. Amidst the challenges of climate change and the anticipated rise in outbreaks, the initiative's ultimate vision is to create 'a world free from diseases'—a future where people no longer suffer from infectious diseases and cancer and where animals and plants thrive without illness.
Werfen-Seegene will prioritize developing products for infectious diseases, including antimicrobial and drug resistance testing, viral load testing, monitoring tests for organ transplant patients, sexually transmitted infections (STIs), and emerging diseases specific to the region. The NewCo will leverage Werfen's extensive local infrastructure and network to provide products tailored to meet local needs, thereby contributing to healthcare in Spain.
As Europe's fourth-largest in vitro diagnostics (IVD) market, Spain is poised to serve as a strategic hub for this expansion. As a result, the NewCo is expected to lead efforts in securing in vitro diagnostic medical devices regulation (CE-IVDR) approval and expanding into both European and global markets.
"Over the past decade, our collaboration with Seegene has showcased the significant impact of their syndromic PCR diagnostic tests on healthcare. We are excited to leverage Seegene's unparalleled technology and manufacturing expertise to develop products tailored for the Spanish and Portuguese market, where there is a high demand for rapid product development due to the frequent emergence of new infectious diseases and viral mutations. This partnership with Seegene will enable us to expand our footprint and respond swiftly to any outbreaks," said Carlos Pascual, CEO of Werfen.
"We have high expectations for this NewCo, which will combine Werfen's extensive business experience with Seegene's leading syndromic product development and production capabilities. We will continue to share our technology with leading global companies and countries that are interested in our technology-sharing initiative. Werfen-Seegene will play a pivotal role in accelerating global expansion of our initiative" Dr. Jong-Yoon Chun, CEO and founder of Seegene.
Seegene has also secured major strategic partnerships for this initiative with Microsoft and Springer Nature. The goal of partnership with Microsoft is to empower global companies participating in the technology-sharing initiative with a streamlined product development system augmented by advanced IT system operations and AI-powered data analysis. Springer Nature is fostering innovation in PCR diagnostic products through its Open Innovation Program (OIP), which was launched in 2023, followed by the 'Nature Awards MDx Impact Grants in 2024. It plans to further expand and advance this program to support NewCos to collaborate with local scientists and experts to develop innovative products in extensive fields.
About Seegene Seegene has 24 years of dedicated experience in R&D, manufacturing, and business related to syndromic real-time PCR technologies. This expertise was particularly highlighted during the COVID-19 pandemic when Seegene provided over 340 million COVID-19 tests to more than 100 countries worldwide. The core feature of Seegene's syndromic real-time PCR technology is the ability to simultaneously test for 14 pathogens that cause similar symptoms in a single tube with quantitative information.
About Werfen Founded in 1966, Werfen is a developer, manufacturer, and worldwide distributor of specialized diagnostic instruments, related reagents, automation work cells, and data management solutions for use primarily in hospitals and independent clinical laboratories. The company's business lines include Hemostasis, Acute Care Diagnostics, Transfusion, Autoimmunity and Transplant. Werfen operates directly in more than 30 countries and more than 100 territories through distributors.
