S.Korea's NGeneBio establishes US corporation NGeneBioAI

South Korean medical diagnostic company NGeneBio Co. announced on Monday that it has established an artificial intelligence (AI) precision diagnostic firm called "NGeneBioAI" in the US. 

NGeneBioAI has been fully funded by its parent company, NGeneBio. It is expected to play a pivotal role in entering the US cancer diagnostics market with its next-generation sequencing (NGS) precision diagnostic platform.

In the US market, NGeneBio will initiate cancer data analysis services utilizing precision diagnostic platforms and healthcare data analysis technology. It will also develop AI-based precision diagnostic software. Through the cancer data analysis services, the accumulated cancer genomic data will be applied to the AI precision diagnostic software, aiming to commercialize data-driven early cancer diagnosis technology.

NGeneBio is pursuing strategic investments in and business collaborations with Clinical Laboratory Improvement Amendments (CLIA) labs. The company plans to proceed with the acquisition of a local CLIA lab in the US and collaborate with other CLIA labs in the country, including those intended for acquisition by LabGenomics, to supply NGeneBio's NGS precision diagnostic products.

The precision diagnostic software "NGeneAnalySys" will be used to target the data-driven cancer genomic diagnostics market in the US. NGeneAnalySys is already being utilized for cancer precision diagnostic analysis in domestic and international medical institutions, including those in Europe and the Middle East.

"NGeneBio's precision diagnostic software technology has received high praise from clinical physicians for its performance and quality," the CEO of NGeneBio Choi Dae-Chul said. 

"With the establishment of NGeneBioAI, we aim to expand the presence of NGeneBio software in the US medical market, enhance the accuracy of cancer precision diagnostics and finalize our ongoing strategic investment in the CLIA lab within this year."

Write to Ye-na Kim at yena@hankyung.com