Collaboration to pioneer “one-stop” R&D solutions to empower the full cycle of new drug development in oncology
BEIJING, Sept. 17, 2020 (GLOBE NEWSWIRE) — Genetron Holdings Limited (“Genetron Health” or the “Company”) (Nasdaq: GTH), a leading precision oncology company in China that specializes in offering molecular profiling tests, and dMed Biopharmaceutical (“dMed”), a next generation full service Clinical Contract Research Organization (CRO) in China, today announced that the two companies have signed a partnership agreement that pioneers a “one-stop” new drug research and development (R&D) service offering and registration services in both China and the U.S. for biopharmaceutical companies.
Under the agreement, the two sides will join forces in the field of oncology. Genetron Health will provide its innovative technology and expertise in precision oncology, covering central laboratory services, new drug development and target screening, companion diagnostic development, clinical trial patient screening and enrollment. Meanwhile, dMed will devote its efforts to new drug R&D design, clinical operations, data management and statistical analysis, project management and regulatory affairs.
As a leading precision oncology company in China, Genetron Health has partnered with dozens of global and domestic pharmaceutical companies, providing standard “one-stop” R&D and registration services through its global molecular profiling platform. The Company also has five laboratories in China, which have passed external quality assessment by China’s National Center for Clinical Laboratories (NCCL) with full grades for five consecutive years. In addition, the Beijing lab is one of the few domestic labs that are both CAP and CLIA certified, while the CLIA lab in Maryland, U.S. is under construction to serve global pharmaceutical companies on R&D and commercialization. Currently, Genetron Health has received seven IVD product approvals, with seven others in the pipeline. These products and product candidates cover three major technology platforms: NGS, dPCR and qPCR. The NGS platform provides flexible combinations of targeted panel products and comprehensive genomic profiling product.
Since its launch four years ago, dMed has delivered high-quality clinical trial services for over 400 innovative Chinese and global biopharma companies, demonstrating the benefits of a next-generation CRO with global capacity and standards. dMed has recruited talents in both China and the U.S. and employs around 600 professionals globally. dMed has offices in major global cities, including Shanghai, Beijing, Wuhan, New York, Washington, San Francisco, and Brussels. In 2019, dMed completed the acquisition of Target Health, a full-service New York-based CRO, to further extend its global footprint and service offerings.
“We are impressed by dMed’s strengths in early R&D design, clinical capabilities and data analysis. Based on our proprietary technologies such as the One-Step Seq method and our experience in precision oncology, we have further enhanced our molecular diagnostic technology platforms and service systems to achieve higher efficiency. Joining forces with strategic partners such as dMed, Genetron Health’s capability will be further utilized to provide more comprehensive and flexible R&D solutions for domestic and global companies in oncology drug development,” said Sizhen Wang, co-founder and CEO of Genetron Health.
Dr. Lingshi Tan, founder and CEO of dMed, said: “Genetron Health is a leading precision oncology company in China and we are very excited about our collaboration. dMed has a strong team that is deeply experienced in the clinical development of oncology drugs, of which a quarter of our employees have more than ten years of work experience in top MNC pharmaceutical or leading CRO companies. Our company also strives for excellent customer service. I firmly believe that the strategic partnership with Genetron Health will allow us to leverage both parties’ strengths, and together we can help our customers increase their clinical R&D efficiencies, shorten their research cycles, boost their success rates, and ultimately benefit patients.”
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 dMed Biopharmaceutical
dMed is a full-service Clinical Contract Research Organization (CRO), which provides industry solutions to pharmaceutical and medical device companies in China and across the globe. dMed is led by experts in China and the US who are originated from leading multinational pharma companies and regulatory agencies. The company is uniquely positioned to leverage and integrate China’s new regulatory framework, offer innovative drug development strategies, and help their clients expand globally by tapping into the world’s second largest pharmaceutical market. dMed’s creative and flexible collaboration models will help Chinese and global innovative pharma companies raise efficiency in clinical R&D, scientifically shorten research cycle, and boost success rate.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the potential benefits and collaborations under the partnership with dMed. 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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