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Monday, 22 November 2021, 16:57 HKT/SGT

Source: ACT Genomics Holdings Co., Ltd
ACT Genomics and Sanomics Merge to Unleash Hong Kong's Global Potential in Healthcare Technology
Asia-based next-generation oncology diagnostic powerhouse to take on global market
with total solutions to patients, medical professionals, pharmaceutical companies, and research institutes

HONG KONG, Nov 22, 2021 - (ACN Newswire) - ACT Genomics Holdings Co. Ltd. ("ACT Genomics" or "the Group") a leading cancer solution provider in Asia, announced today that it has merged with Sanomics Holdings Limited ("Sanomics"), a champion in lung cancer diagnostics in Hong Kong and Thailand. Both ACT Genomics and Sanomics are park companies of Hong Kong Science and Technology Parks Corporation (HKSTP) and located in the Hong Kong Science Park. The merger is set to create an integrated oncology diagnostic powerhouse in Asia and unleash the global potential of healthcare technology (healthtech) in Hong Kong, the Greater Bay Area and beyond.

Photo: Prof. Tony Mok (right), Chairman of Sanomics, and Mr. Victor Chan (left), Chief Financial Officer of ACT Genomics, officiating at the Merger Signing Ceremony. Witnessing the signing are (from left) Dr. Sunny Chai, Chairman of Hong Kong Science & Technology Parks Corporation, Mr. Alfred Sit, Secretary for Innovation and Technology, and Ms. Annie Choi, Permanent Secretary for Innovation and Technology. Prof. Tony Mok became Chairman of ACT Genomics upon signing is completed.

The next-generation oncology diagnostic powerhouse will offer a wide range of innovative and state-of-the-art products for both tissue and liquid-based tests, multiple diagnostic technology platforms including NGS, digital PCR and gene-chips. The portfolio also includes services covering cancer types at all different stages in clinical applications as well as assisting pharmaceutical companies in companion diagnostics development and drug discovery.

According to GLOBOCAN's latest cancer statistics, there were an estimated 19.3 million new cancer cases and 9.9 million cancer deaths occurred worldwide in 2020, among which 49.3% of all cases and 58.3% of cancer deaths are estimated to have occurred in Asia.

The combined group has four wholly owned laboratories, two in Hong Kong, one in Taipei and one in Bangkok, among which three (Hong Kong and Taipei) are CAP-accredited. The group also has a CAP-accredited laboratory in Kanagawa (Japan) under its joint venture with Canon Medical Systems, and one more newly formed laboratory in Taipei under another joint venture with Cerba Research on IHC/Flow Cytometry. The enlarged company has presences in Hong Kong, Taipei, Tokyo, Singapore, Bangkok and the Wales (UK). This helps promote a synergistic competitive advantage in serving the medical and pharmaceutical communities on the ground in Asia and Europe.

Dr. Hua Chien Chen, CEO of ACT Genomics, says "The union of ACT Genomics and Sanomics will significantly broaden our horizon in terms of product offerings, business strategy and vision. The combined group will be better able to take advantage of our respective clear leadership positions and form a next generation oncology diagnostics powerhouse with a keen devotion to ESG in Asia."

Dr. Tony Mok, Chairman of Sanomics, says "We are excited to join the ACT Genomics big family. Our team is ready to make meaningful contributions to the enlarged group with our technical expertise, especially in the field of lung cancer, as well as firsthand clinical experience. The synergy and combined resources will enable us to provide more comprehensive solutions and better services to clinicians and put patients first. This merger will enable us to further extend our reach to more patients and pharmaceutical companies in further geographies."

Dr. Tony Mok has now become the Chairman of ACT Genomics.

Both ACT Genomics and Sanomics were awarded the Elite Program funding by HKSTP. On top of solid endorsement given by industry experts, the grants have been fully used in Research & Development which is the core value of the enlarged group's culture in technology excellence.

Albert Wong, CEO of HKSTP says, "As HKSTP approaches 20 years of leading innovation in Hong Kong, we continue to forge the strongest I&T ecosystem to support for all park companies grow and thrive. We are delighted to witness the merger of two healthtech pioneers in Science Park which signifies the continuous growth of our vibrant ecosystem and healthtech market. With the government's support and new infrastructure and talent in place, Hong Kong is primed for lift-off as healthtech businesses expand and spearhead development in the Greater Bay Area and beyond."

About ACT Genomics Holdings Co. Ltd.
ACT Genomics is an innovation-driven cancer solution provider with offices in Hong Kong, Taipei, Singapore, Tokyo, Bangkok and Wales (UK). 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. Together, we "Turn Genomics into Action".

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

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

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