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Tuesday, 6 July 2021, 16:45 HKT/SGT

Source: ACT Genomics Holdings Co., Ltd
ACT Genomics Completes Acquisition of MC Diagnostics

HONG KONG, July 6, 2021 - (ACN Newswire) - ACT Genomics Co. Ltd. ("ACT Genomics" or "the Group") has completed the acquisition of MC Diagnostics Ltd. ("MCD"), a specialist molecular diagnostic company based in the United Kingdom, which marks the Group's entry into the European precision medicine market.

MCD machine in operation

Founded in 2006, MCD provides expertise in the automation of multiplexed molecular assays as well as custom-designed image analysis and interpretation software. MCD has designed, developed and manufactured an automated low density array platform ("ALDAS"), which is currently providing proven clinical diagnostic assays in the fields of HLA typing and blood group diagnostics.

Revolutionary Breakthrough in Genechip Technology

Effective and affordable cancer diagnostics testing tools with quick turnaround time and high sensitivity have always been sought after in the market. As a company at the forefront of Next Generation Sequencing (NGS) molecular diagnostics in the field of oncology, ACT Genomics has partnered with MCD to develop fusion genechips on its ALDAS platform, which has recently yielded a notable breakthrough. Tests can now be easily and automatically performed at the point of care to achieve a result that is very close to that obtained by NGS. The first genechip - ACTSpot NTRK - will be launched in August 2021.

A New Chapter for ACT Genomics

ACT Genomics is an NGS-based assays specialist and a pioneer in oncology molecular diagnostics in Asia. The creation of this union with MCD not only secures the global pioneering position of ACT Genomics in the development and applications of genechips, but also reflects the Group's strategy to embrace new and exciting growth opportunities through diversification and globalization.

Mr. Peter Maguire, Chief Executive Officer of MCD said, "Scientists at MCD are experts in transplant diagnostics, pcr-based diagnostic tests, microarray fabrication, robotics and automation, as well as software engineering. We are heavily focused on field application and have successfully optimized our manufacturing, assay and automation processes. The ALDAS system offers maximum flexibility as its 8-well strip array allows any throughput from 1 to 96 samples per run and the turnaround time is only 3 hours from sample extraction to report. I am excited to ally with ACT Genomics to bring our knowledge and experience to Asia."

Mr. Hua Chien Chen, Chief Executive Officer of ACT Genomics said, "With a vision to transform genomic information into action for the benefit of cancer patients, we at ACT Genomics are dedicated to develop innovative and effective products that can cover a broader spectrum of patient needs. Working hand-in-hand with MCD has brought us to the frontier of genechip technology and we are excited to have already accomplished a promising breakthrough. We look forward to continue our close relationship with the experts at MCD to perfect the ALDAS system and develop additional practical products that exploit this cutting-edge platform for the well-being of cancer patients and also the general public at large."

About ACT Genomics Holdings Co., Ltd
ACT Genomics is an innovation-driven cancer solution provider in Asia with offices in Taipei, Hong Kong, Singapore and Tokyo. After setting up our laboratories in Taiwan and Japan, we opened our third laboratory in Asia at Hong Kong Science Park in July 2019. With our Next-Generation Sequencing (NGS) technology, CAP-accredited laboratories, experienced bioinformatics team and proprietary AI algorithms, we provide optimal cancer treatment planning, immunotherapy evaluation, cancer relapse & drug resistance monitoring, as well as cancer risk assessment services to medical professionals.

Our team is specialized in biomarker identification, underlying disease mechanism discovery and genetic alteration exploration. Pharmaceutical communities are also able to benefit from our expertise in identifying targets for drug development, stratifying patients for clinical studies, and delineating drug responses with efficiency and efficacy. We also participate in various international precision medicine biomarker programs, such as the TMB and HRD Harmonization Programs led by FOCR in the United States. Together, we "Turn Genomics into Action".

For further information, please contact:
Strategic Financial Relations Limited
Angelus Lau Tel: (852) 2864 4805 Email: angelus.lau@sprg.com.hk
Karen Kwan Tel: (852) 2114 4171 Email: karen.kwan@sprg.com.hk
Doris Ho Tel: (852) 2114 4916 Email: doris.ho@sprg.com.hk

Topic: Press release summary
Source: ACT Genomics Holdings Co., Ltd

Sectors: BioTech, Healthcare & Pharm
From the Asia Corporate News Network

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